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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities    
Net income $ 18,516 $ 16,636
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,864 7,761
Amortization from above (below) lease intangibles, net 3,276 2,243
Amortization from financing and credit facility costs 325 267
Stock-based compensation 913 602
Provision for impairment 416 0
(Gain) loss on sale of assets (3,427) (4,598)
(Increase) decrease in accounts receivable (2,148) (2,817)
(Increase) decrease in other assets (1,169) 83
Increase (decrease) in accounts payable, accrued expenses, and other liabilities (3,059) (2,363)
Net Cash Provided by Operating Activities 23,507 17,814
Cash Flows from Investing Activities    
Acquisition of real estate investments and other assets (142,269) (99,392)
Development of real estate investments and other assets (including capitalized interest of $90 in 2019 and $144 in 2018) (6,116) (4,843)
Payment of leasing costs (100) (10)
Net proceeds from sale of assets 9,834 20,044
Net Cash Used In Investing Activities (138,651) (84,201)
Cash Flows from Financing Activities    
Proceeds from common stock offerings, net 57,845 (93)
Repurchase of common shares (1,398) (1,074)
Unsecured revolving credit facility borrowings (repayments), net 52,000 62,000
Payments of mortgage notes payable (672) (25,630)
Payments of unsecured term loans (190) (190)
Dividends paid (20,838) (16,122)
Distributions to Non-Controlling Interest (193) (181)
Payments for financing costs (36) (1)
Net Cash Provided by Financing Activities 86,518 18,709
Net Increase (Decrease) in Cash and Cash Equivalents (28,626) (47,678)
Cash and cash equivalents and cash held in escrow, beginning of period 53,975 58,782
Cash and cash equivalents and cash held in escrow, end of period 25,349 11,104
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest (net of amounts capitalized) 6,902 6,226
Cash paid for income tax 646 324
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Operating lease right of use assets added upon implementation of leases standard on January 1, 2019 7,505  
Additional operating lease right of use assets added under new ground leases after January 1, 2019 12,167  
Dividends and limited partners' distributions declared and unpaid $ 21,535 $ 16,318