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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 198,014 $ 87,254 $ 79,795
Adjustments to reconcile net income to net cash provided by operating activities      
Straight-line rents (9,353) (8,683) (361)
Amortization of lease intangibles (16,271) (7,686) (5,420)
Depreciation and amortization 65,763 50,687 45,875
Gain on sales of real estate investments (112,166) (16,627) (26,766)
Deferred financing cost amortization 1,371 1,335 1,391
Deferred senior secured loan fee amortization 0 0 (57)
Stock-based compensation 10,171 9,554 9,826
Changes in assets and liabilities      
Other assets (1,368) (3,669) (3,911)
Accounts payable and other liabilities 7,049 20,043 678
Net cash provided by operating activities 143,210 132,208 101,050
CASH FLOWS FROM INVESTING ACTIVITIES      
Cash paid for property acquisitions (407,558) (644,956) (98,088)
Proceeds from sales of real estate investments, net 162,145 41,082 70,685
Additions to construction in progress (25,638) (11,274) (8,989)
Additions to buildings, improvements and leasing costs (66,611) (51,290) (31,611)
Repayments on senior secured loan 0 0 15,915
Net cash used in investing activities (337,662) (666,438) (52,088)
CASH FLOWS FROM FINANCING ACTIVITIES      
Issuance of common stock 78,851 462,386 64,767
Issuance costs on issuance of common stock (1,163) (5,683) (940)
Repurchase of common stock related to employee awards (1,045) (582) (9,837)
Borrowings on credit facility 208,000 75,000 0
Payments on credit facility (208,000) (75,000) 0
Borrowings on term loans payable 100,000 0 0
Borrowings on senior unsecured notes 0 275,000 0
Payments on senior unsecured notes (50,000) 0 0
Payments on mortgage loan payable 0 (11,271) (33,077)
Payment of deferred financing costs (1,498) (4,027) 0
Dividends paid to common stockholders (107,411) (84,628) (74,778)
Net cash provided by financing activities 17,734 631,195 (53,865)
Net (decrease) increase in cash and cash equivalents and restricted cash (176,718) 96,965 (4,903)
Cash and cash equivalents and restricted cash at beginning of year 204,801 107,836 112,739
Cash and cash equivalents and restricted cash at end of year 28,083 204,801 107,836
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid for interest, net of capitalized interest 25,219 15,144 16,315
Supplemental disclosures of non-cash transactions      
Accounts payable related to capital improvements 18,158 16,873 10,552
Non-cash issuance of common stock to the deferred compensation plan (11,265) (7,651) (7,546)
Lease liability arising from recognition of right-of-use asset 1,192 3,287 0
Reconciliation of Cash Paid for Property Acquisitions [Abstract]      
Acquisition of properties 422,298 681,970 100,391
Assumption of other assets and liabilities (14,740) (37,014) (2,303)
Net cash paid for property acquisitions $ 407,558 $ 644,956 $ 98,088