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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 42,384 $ 23,622
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including a below-market ground lease) 34,240 28,168
Amortization of deferred financing costs 1,453 1,615
Loss on the extinguishment of debt 0 11,883
Amortization of stock-based compensation 2,816 1,792
Straight-line rental income (1,631) (117)
Noncash interest income (228) (496)
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 (5,499) (6,948)
Prepaid expenses and other assets (159) (182)
Accounts payable and accrued liabilities 1,065 5,206
Net cash provided by operating activities 72,390 66,933
Cash flows from investing activities:    
Acquisitions of real estate (75,621) (222,463)
Improvements to real estate (5,401) (621)
Purchases of equipment, furniture and fixtures (1,262) (359)
Investment in real estate mortgage and other loans receivable (2,598) 0
Principal payments received on real estate mortgage and other loans receivable 893 0
Sale of other real estate investment 0 7,500
Escrow deposits for acquisitions of real estate (1,000) (1,000)
Net proceeds from the sale of real estate 13,004 0
Net cash used in investing activities (71,985) (216,943)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net 130,546 170,414
Proceeds from the issuance of senior unsecured notes payable 0 300,000
Borrowings under unsecured revolving credit facility 60,000 158,000
Payments on senior unsecured notes payable 0 (267,639)
Payments on unsecured revolving credit facility (135,000) (158,000)
Payments of deferred financing costs 0 (6,047)
Net-settle adjustment on restricted stock (1,288) (866)
Dividends paid on common stock (45,827) (38,544)
Net cash provided by financing activities 8,431 157,318
Net increase in cash and cash equivalents 8,836 7,308
Cash and cash equivalents, beginning of period 6,909 7,500
Cash and cash equivalents, end of period 15,745 14,808
Supplemental disclosures of cash flow information:    
Interest paid 15,772 19,349
Supplemental schedule of noncash operating, investing and financing activities:    
Increase in dividends payable 3,202 2,971
Application of escrow deposit to acquisition of real estate $ 0 $ 700