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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities    
Net income $ 52,739 $ 46,794
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 44,676 29,740
Amortization from above (below) market lease intangibles, net 10,015 7,588
Amortization from financing and credit facility costs 948 647
Stock-based compensation 2,974 2,238
Provision for impairment 0 1,128
(Gain) loss on settlement of interest rate swaps 16,748 (33)
(Gain) loss on sale of assets (9,712) (6,597)
Write-off of unamortized finance costs upon debt extinguishment 1,250  
(Increase) decrease in accounts receivable (9,381) (8,125)
(Increase) decrease in other assets 2,113 (435)
Increase (decrease) in accounts payable, accrued expenses, and other liabilities 5,576 (5,166)
Net Cash Provided by Operating Activities 117,946 67,779
Cash Flows from Investing Activities    
Acquisition of real estate investments and other assets (741,353) (504,390)
Development of real estate investments, net of reimbursements (including capitalized interest of $163 in 2021, $55 in 2020) (28,748) (6,961)
Payment of leasing costs (296) (388)
Net proceeds from sale of assets 35,377 42,599
Net Cash Used in Investing Activities (735,020) (469,140)
Cash Flows from Financing Activities    
Proceeds from common stock offerings, net 594,980 541,715
Repurchase of common shares (1,780) (1,630)
Unsecured revolving credit facility borrowings (repayments), net (92,000) (89,000)
Payments of mortgage notes payable (393) (3,238)
Payments of unsecured term loans (240,000)  
Senior unsecured notes proceeds 640,623  
Dividends paid (102,110) (51,488)
Distributions to non-controlling interest (582) (407)
Payments for financing costs (1,238) (364)
Net Cash Provided by Financing Activities 797,500 395,588
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow 180,426 (5,773)
Cash and cash equivalents and cash held in escrow, beginning of period 7,955 42,157
Cash and cash equivalents and cash held in escrow, end of period 188,381 36,384
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest (net of amounts capitalized) 18,822 17,930
Cash paid for income tax 1,794 841
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Additional operating lease right of use assets added under new ground leases after January 1, 2019 6,302  
Dividends and limited partners' distributions declared and unpaid 15,029 32,519
Accrual of development, construction and other real estate investment costs $ (1,825) $ 1,787