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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 19,325 $ 16,053
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 13,175 11,906
Amortization of deferred financing costs 487 541
Amortization of stock-based compensation 884 994
Straight-line rental income (26) (463)
Noncash interest income 0 (10)
Loss on sale of real estate 56 0
Interest income distribution from other real estate investment 1,346 0
Change in operating assets and liabilities:    
Accounts and other receivables, net 335 (1,220)
Prepaid expenses and other assets 454 (116)
Accounts payable and accrued liabilities 482 2,389
Net cash provided by operating activities 36,518 30,074
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied (25,905) (52,697)
Improvements to real estate (2,345) (452)
Purchases of equipment, furniture and fixtures (73) (1,806)
Investment in real estate mortgage and other loans receivable (100) (11,389)
Principal payments received on real estate mortgage and other loans receivable 662 411
Repayment of other real estate investment 2,327 0
Escrow deposits for potential acquisitions of real estate (1,000) (375)
Net proceeds from sales of real estate 2,134 131
Net cash used in investing activities (24,300) (66,177)
Cash flows from financing activities:    
Proceeds from (costs paid for) the issuance of common stock, net (90)  
Proceeds from (costs paid for) the issuance of common stock, net   47,260
Proceeds from the issuance of senior unsecured term loan 0 200,000
Borrowings under unsecured revolving credit facility 15,000 185,000
Payments on unsecured revolving credit facility 0 (95,000)
Payments on senior unsecured term loan 0 (100,000)
Payments of deferred financing costs 0 (4,390)
Net-settle adjustment on restricted stock (1,986) (1,495)
Dividends paid on common stock (21,532) (17,710)
Net cash (used in) provided by financing activities (8,608) 213,665
Net increase in cash and cash equivalents 3,610 177,562
Cash and cash equivalents, beginning of period 20,327 36,792
Cash and cash equivalents, end of period 23,937 214,354
Supplemental disclosures of cash flow information:    
Interest paid 2,289 2,242
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 2,399 2,303
Increased in deferred financing costs payable 0 144
Transfer of pre-acquisition costs to acquired assets 167 0
Sale of real estate settled with note receivable $ 32,400 $ 0