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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 20,486 $ 19,325
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 13,486 13,175
Amortization of deferred financing costs 487 487
Amortization of stock-based compensation 1,585 884
Straight-line rental income (12) (26)
Loss on sale of real estate 192 56
Interest income distribution from other real estate investment 0 1,346
Change in operating assets and liabilities:    
Accounts and other receivables, net (100) 335
Prepaid expenses and other assets, net 278 454
Accounts payable and accrued liabilities (2,453) 482
Net cash provided by operating activities 33,949 36,518
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied (138,151) (25,905)
Purchases of equipment, furniture and fixtures and improvements to real estate (1,319) (2,418)
Investment in real estate mortgage and other loans receivable (700) (100)
Principal payments received on real estate mortgage and other loans receivable 56 662
Repayment of other real estate investment 0 2,327
Escrow deposits for potential acquisitions of real estate 0 (1,000)
Net proceeds from sales of real estate 6,814 2,134
Net cash used in investing activities (133,300) (24,300)
Cash flows from financing activities:    
Proceeds from (costs paid for) the issuance of common stock, net 16,191  
Proceeds from (costs paid for) the issuance of common stock, net   (90)
Borrowings under unsecured revolving credit facility 120,000 15,000
Net-settle adjustment on restricted stock (1,330) (1,986)
Dividends paid on common stock (23,960) (21,532)
Net cash provided by (used in) financing activities 110,901 (8,608)
Net increase in cash and cash equivalents 11,550 3,610
Cash and cash equivalents, beginning of period 18,919 20,327
Cash and cash equivalents, end of period 30,469 23,937
Supplemental disclosures of cash flow information:    
Interest paid 1,325 2,289
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 1,673 2,399
Transfer of pre-acquisition costs to acquired assets 358 167
Sale of real estate settled with note receivable $ 0 $ 32,400