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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities    
Net income $ 21,370 $ 18,516
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,132 9,864
Amortization from above (below) market lease intangibles, net 3,809 3,276
Amortization from financing and credit facility costs 323 325
Stock-based compensation 1,014 913
Provision for impairment 0 416
Settlement of interest rate swap (17)  
(Gain) loss on sale of assets (1,645) (3,427)
(Increase) decrease in accounts receivable (1,284) (2,148)
(Increase) decrease in other assets 50 (1,169)
Increase (decrease) in accounts payable, accrued expenses, and other liabilities (9,056) (3,059)
Net Cash Provided by Operating Activities 28,696 23,507
Cash Flows from Investing Activities    
Acquisition of real estate investments and other assets (229,586) (142,269)
Development of real estate investments and other assets (including capitalized interest of $25 in 2020, $90 in 2019) (1,217) (6,116)
Payment of leasing costs (189) (100)
Net proceeds from sale of assets 24,383 9,834
Net Cash Used in Investing Activities (206,609) (138,651)
Cash Flows from Financing Activities    
Proceeds (costs) from common stock offerings, net 104,615 57,845
Repurchase of common shares (1,627) (1,398)
Unsecured revolving credit facility borrowings (repayments), net 153,000 52,000
Payments of mortgage notes payable (3,005) (672)
Payments of unsecured term loans   (190)
Dividends paid (24,811) (20,838)
Distributions to Non-Controlling Interest (203) (193)
Payments for financing costs (73) (36)
Net Cash Provided by Financing Activities 227,896 86,518
Net Increase (Decrease) in Cash and Cash Equivalents 49,983 (28,626)
Cash and cash equivalents and cash held in escrow, beginning of period 42,157 53,975
Cash and cash equivalents and cash held in escrow, end of period 92,140 25,349
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest (net of amounts capitalized) 9,669 6,902
Cash paid for income tax 760 646
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 26,880 21,535
Accrual of development, construction and other real estate investment costs $ 3,034 $ 2,629