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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 194,074 $ 141,258
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 224,336 219,213
Loss on impairment 888 4,967
Gain on involuntary conversion (1,855) (9,285)
Non-cash portion of interest expense 4,044 3,201
Amortization of above and below market leases, net (1,894) 2
Straight-line rent adjustments, net (15,244) (11,384)
Debt extinguishment and modification expenses 30 36
Gain on the sales of rental property, net (57,801) (23,281)
Non-cash compensation expense 9,581 8,824
Change in assets and liabilities:    
Tenant accounts receivable 7,062 9,273
Prepaid expenses and other assets (28,199) (28,596)
Accounts payable, accrued expenses and other liabilities 25,007 38,317
Tenant prepaid rent and security deposits (1,108) 2,818
Total adjustments 164,847 214,105
Net cash provided by operating activities 358,921 355,363
Cash flows from investing activities:    
Additions of land and buildings and improvements 143,893 83,082
Acquisitions of land and buildings and improvements (150,415) (358,146)
Payments to Acquire Other Property, Plant, and Equipment 0 196
Proceeds from sale of rental property, net 78,319 97,718
Acquisition deposits, net (30) (245)
Acquisitions of deferred leasing intangibles (20,838) (46,570)
Net cash used in investing activities (236,857) (390,521)
Cash flows from financing activities:    
Proceeds from unsecured credit facility 873,000 1,043,000
Repayment of unsecured credit facility (1,172,000) (1,189,000)
Proceeds from unsecured term loans 55,000 0
Repayment of unsecured term loans (55,000) 0
Proceeds from unsecured notes 550,000 450,000
Repayment of unsecured notes (175,000) 0
Repayment of mortgage notes (166) (161)
Payment of loan fees and costs (4,747) (12,379)
Proceeds from sales of common stock, net 595 342
Dividends and distributions (212,999) (206,105)
Repurchase and retirement of share-based compensation (649) (1,014)
Contributions from noncontrolling interest in joint ventures 2,128 435
Net cash provided by (used in) financing activities (141,028) 84,434
Increase (decrease) in cash and cash equivalents and restricted cash (18,964) 49,276
Cash and cash equivalents and restricted cash—beginning of period 37,393 21,868
Cash and cash equivalents and restricted cash—end of period 18,429 71,144
Supplemental disclosure:    
Interest Paid, Capitalized, Investing Activities 2,605 1,770
Interest Paid, Excluding Capitalized Interest, Operating Activities 76,375 66,339
Supplemental schedule of non-cash investing and financing activities    
Acquisitions of land and buildings and improvements (342) (2,456)
Acquisitions of deferred leasing intangibles (58) (357)
Additions to building and other capital improvements from involuntary conversion (1,855) (12,253)
Investing other receivables due to involuntary conversion of building 0 (2,968)
Change in additions of land, building, and improvements included in accounts payable, accrued expenses and other liabilities 1,493 17,110
Additions to building and other capital improvements from non-cash compensation (203) (137)
Change in loan fees, costs, and offering costs included in accounts payable, accrued expenses and other liabilities (452) (559)
Dividends and distributions payable $ 23,669 $ 22,937