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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities    
Net income $ 42,119 $ 32,891
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 14,366 10,958
Amortization 8,590 5,943
Amortization from financing and credit facility costs 730 523
Stock-based compensation 1,748 1,726
(Gain) loss on extinguishment of debt 0 33
(Gain) loss on sale of assets (10,045) (7,133)
(Increase) decrease in accounts receivable (4,192) (3,204)
(Increase) decrease in other assets (148) 167
Increase (decrease) in accounts payable 1,837 2,798
Increase (decrease) in deferred revenue (371) (541)
Increase (decrease) in accrued interest 549 1,608
Increase (decrease) in tenant deposits 2 65
Net Cash Provided by Operating Activities 55,185 45,834
Cash Flows from Investing Activities    
Acquisition of real estate investments and other assets (241,132) (235,855)
Development of real estate investments and other assets (including capitalized interest of $297 in 2017 and $28 in 2016) (27,240) (20,262)
Payment of leasing costs (544) (648)
Cash held in escrows on sale of assets (1,779) (12,292)
(Increase) decrease in Net proceeds from sale of assets 29,414 22,098
Net Cash Used In Investing Activities (241,281) (246,959)
Cash Flows from Financing Activities    
Proceeds from common stock offerings, net 136,733 124,099
Repurchase of common shares (1,108) (712)
Unsecured revolving credit facility borrowings 184,000 227,000
Unsecured revolving credit facility repayments (198,000) (198,000)
Payments of mortgage notes payable (1,794) (31,059)
Unsecured term loan proceeds 0 60,283
Payments of unsecured term loans (549) 0
Senior unsecured notes proceeds 100,000 60,000
Dividends paid (40,392) (30,593)
Distributions to Non-Controlling Interest (520) (490)
Payments for financing costs (159) (624)
Net Cash Provided by Financing Activities 178,211 209,904
Net Increase (Decrease) in Cash and Cash Equivalents (7,885) 8,779
Cash and Cash Equivalents, beginning of period 33,395 2,712
Cash and Cash Equivalents, end of period 25,510 11,491
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest (net of amounts capitalized) 12,658 9,159
Cash paid (refunded) for income tax 3 8
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Shares issued under equity incentive plans (in dollars) 3,022 3,059
Dividends and limited partners' distributions declared and unpaid $ 14,930 $ 11,631