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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 16,053 $ 14,607
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including a below-market ground lease) 11,906 11,582
Amortization of deferred financing costs 541 484
Amortization of stock-based compensation 994 904
Straight-line rental income (463) (591)
Noncash interest income (10) (106)
Gain on sale of real estate 0 (2,051)
Change in operating assets and liabilities:    
Accounts and other receivables, net (1,220) (155)
Prepaid expenses and other assets (116) (36)
Accounts payable and accrued liabilities 2,389 (2,579)
Net cash provided by operating activities 30,074 22,059
Cash flows from investing activities:    
Acquisitions of real estate (52,697) (47,103)
Improvements to real estate (452) (11)
Purchases of equipment, furniture and fixtures (1,806) (27)
Investment in real estate mortgage and other loans receivable (11,389) 0
Principal payments received on real estate mortgage and other loans receivable 411 23
Escrow deposits for acquisitions of real estate (375) (1,000)
Net proceeds from the sale of real estate 131 13,004
Net cash used in investing activities (66,177) (35,114)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net 47,260 (10)
Proceeds from the issuance of senior unsecured term loan 200,000 0
Borrowings under unsecured revolving credit facility 185,000 60,000
Payments on senior unsecured term loan (100,000) 0
Payments on unsecured revolving credit facility (95,000) (25,000)
Payments of deferred financing costs (4,390) 0
Net-settle adjustment on restricted stock (1,495) (605)
Dividends paid on common stock (17,710) (14,044)
Net cash provided by financing activities 213,665 20,341
Net increase in cash and cash equivalents 177,562 7,286
Cash and cash equivalents, beginning of period 36,792 6,909
Cash and cash equivalents, end of period 214,354 14,195
Supplemental disclosures of cash flow information:    
Interest paid 2,242 2,675
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 2,303 1,564
Increase in deferred financing costs payable $ 144 $ 0