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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 $ 4,237 $ 3,333
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,906 4,806
Amortization of intangibles and deferred charges 2,166 1,775
Stock-based compensation 731 564
Rental income in excess of amount billed (594) (558)
Distributions from unconsolidated affiliate 61 56
(Income) from equity investment in unconsolidated affiliate (61) (56)
Changes in operating assets and liabilities:    
Other assets (1,928) (1,123)
Accounts payable and accrued expenses (487) (307)
Other liabilities (1,204) (1,154)
Net cash provided by operating activities 7,827 7,336
CASH FLOWS FROM INVESTING ACTIVITIES:    
Expenditures for improvements to real estate (839) (1,188)
Return of capital from unconsolidated affiliate 139 44
Net cash used in investing activities (700) (1,144)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from mortgage notes payable   8,400
Loan costs from mortgage notes payable   (246)
Proceeds from revolving credit facility   10,000
Payment of mortgage principal (380) (6,407)
Cash distributions to noncontrolling interests (2,893) (2,155)
Cash dividends paid (5,451) (4,061)
Net cash (used in) provided by financing activities (8,724) 5,531
Net (decrease) increase in cash and cash equivalents (1,597) 11,723
Cash and cash equivalents including restricted cash of $1,662 and $2,232, respectively, at the beginning of period 43,917 29,085
Cash and cash equivalents including restricted cash of $2,165 and $2,568, respectively, at the end of period 42,320 40,808
SUPPLEMENTAL DISCLOSURE CASH FLOW INFORMATION:    
Cash paid during the period for interest, net of amount capitalized of $0 for 2021 and $96 for 2020 8,094 8,181
Non-cash expenditures for real estate 108 278
Right-of-use assets, operating leases obtained in exchange for operating lease liabilities   145
Cash paid for income taxes $ 90 $ 43