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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 41,803 $ 38,260
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 27,345 26,428
Amortization of deferred financing costs 1,012 975
Amortization of stock-based compensation 3,395 1,847
Straight-line rental income (20) (48)
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 (93) 806
Prepaid expenses and other assets, net 88 528
Accounts payable and accrued liabilities (3,165) (2,256)
Net cash provided by operating activities 70,557 67,942
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied (147,807) (25,905)
Purchases of equipment, furniture and fixtures and improvements to real estate (3,463) (6,234)
Investment in real estate mortgage and other loans receivable (700) (13,958)
Principal payments received on real estate mortgage and other loans receivable 113 66,961
Repayment of other real estate investment 0 2,327
Net proceeds from sales of real estate 6,814 2,134
Net cash (used in) provided by investing activities (145,043) 25,325
Cash flows from financing activities:    
Proceeds from (costs paid for) the issuance of common stock, net 22,946  
Proceeds from (costs paid for) the issuance of common stock, net   (404)
Proceeds from the issuance of senior unsecured notes payable 400,000 0
Borrowings under unsecured revolving credit facility 170,000 15,000
Payments on unsecured revolving credit facility (170,000) (75,000)
Payments of deferred financing costs (5,577) 0
Net-settle adjustment on restricted stock (1,331) (1,986)
Dividends paid on common stock (49,513) (45,406)
Net cash provided by (used in) financing activities 366,525 (107,796)
Net increase (decrease) in cash, cash equivalents, and restricted cash 292,039 (14,529)
Cash, cash equivalents, and restricted cash as of the beginning of period 18,919 20,327
Cash, cash equivalents, and restricted cash as of the end of period 310,958 5,798
Supplemental disclosures of cash flow information:    
Interest paid 10,664 11,586
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 1,834 2,456
Right-of-use asset obtained in exchange for new operating lease obligation 0 599
Increased in deferred financing costs payable 618 0
Transfer of pre-acquisition costs to acquired assets 358 167
Sale of real estate settled with note receivable $ 0 $ 32,400