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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 27,874 $ 12,311
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including a below-market ground lease) 22,885 18,419
Amortization of deferred financing costs 969 1,131
Loss on the extinguishment of debt 0 11,883
Amortization of stock-based compensation 1,828 1,136
Straight-line rental income (933) (115)
Noncash interest income (217) (320)
Gain on sale of real estate (2,051) 0
Interest income distribution from other real estate investment 0 1,500
Impairment of real estate investment 0 890
Change in operating assets and liabilities:    
Accounts and other receivables, net (2,837) (3,414)
Prepaid expenses and other assets (462) (311)
Accounts payable and accrued liabilities (4,940) 1,791
Net cash provided by operating activities 42,116 44,901
Cash flows from investing activities:    
Acquisitions of real estate (47,310) (96,641)
Improvements to real estate (506) (598)
Purchases of equipment, furniture and fixtures (702) (233)
Investment in real estate mortgage and other loans receivable (1,390) 0
Principal payments received on mortgage loan receivable 58 0
Sale of other real estate investment 0 7,500
Escrow deposits for acquisitions of real estate (2,250) (4,335)
Net proceeds from the sale of real estate 13,004 0
Net cash used in investing activities (39,096) (94,307)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net 47,547 170,485
Proceeds from the issuance of senior unsecured notes payable 0 300,000
Borrowings under unsecured revolving credit facility 60,000 63,000
Payments on senior unsecured notes payable 0 (267,639)
Payments on unsecured revolving credit facility (75,000) (158,000)
Payments of deferred financing costs 0 (5,511)
Net-settle adjustment on restricted stock (1,288) (866)
Dividends paid on common stock (29,628) (24,497)
Net cash provided by financing activities 1,631 76,972
Net increase in cash and cash equivalents 4,651 27,566
Cash and cash equivalents, beginning of period 6,909 7,500
Cash and cash equivalents, end of period 11,560 35,066
Supplemental disclosures of cash flow information:    
Interest paid 13,411 10,585
Supplemental schedule of noncash operating, investing and financing activities:    
Increase in dividends payable 2,205 2,973
Increase in deferred financing costs payable 0 525
Increase in offering costs payable 7 50
Application of escrow deposit to acquisition of real estate $ 0 $ 700