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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 38,260 $ 35,751
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 26,428 25,354
Amortization of deferred financing costs 975 1,028
Amortization of stock-based compensation 1,847 2,141
Straight-line rental income (48) (937)
Noncash interest income 0 (21)
Loss on sale of real estate 56 0
Interest income distribution from other real estate investment 1,346 463
Change in operating assets and liabilities:    
Accounts and other receivables, net 806 (2,091)
Prepaid expenses and other assets 528 (185)
Accounts payable and accrued liabilities (2,256) 235
Net cash provided by operating activities 67,942 61,738
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied (25,905) (285,946)
Improvements to real estate (6,122) (68)
Purchases of equipment, furniture and fixtures (112) (2,613)
Investment in real estate mortgage and other loans receivable (13,958) (11,389)
Principal payments received on real estate mortgage and other loans receivable 66,961 482
Repayment of other real estate investment 2,327 2,204
Net proceeds from sales of real estate 2,134 131
Net cash provided by (used in) investing activities 25,325 (297,199)
Cash flows from financing activities:    
Proceeds from (costs paid for) the issuance of common stock, net (404)  
Proceeds from (costs paid for) the issuance of common stock, net   196,041
Proceeds from the issuance of senior unsecured term loan 0 200,000
Borrowings under unsecured revolving credit facility 15,000 195,000
Payments on unsecured revolving credit facility (75,000) (245,000)
Payments on senior unsecured term loan 0 (100,000)
Payments of deferred financing costs 0 (4,534)
Net-settle adjustment on restricted stock (1,986) (2,524)
Dividends paid on common stock (45,406) (37,685)
Net cash (used in) provided by financing activities (107,796) 201,298
Net decrease in cash and cash equivalents (14,529) (34,163)
Cash and cash equivalents, beginning of period 20,327 36,792
Cash and cash equivalents, end of period 5,798 2,629
Supplemental disclosures of cash flow information:    
Interest paid 11,586 12,963
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 2,456 3,834
Right-of-use asset obtained in exchange for new operating lease obligation 599 1,010
Transfer of pre-acquisition costs to acquired assets 167 242
Increase in pre-acquisition costs payable 0 86
Sale of real estate settled with note receivable $ 32,400 $ 0