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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES              
Net income $ 981 $ 2,021 $ 1,317 $ 1,484 $ 19 $ (612)  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation, depletion and amortization 2,126 2,056   4,256 3,544    
Amortization of deferred financing fees and discounts/premiums on debt       221 103    
Amortization of net origination fees related to notes receivable       (5) (5)    
Stock based compensation       729 788    
(Gain) loss on disposition of assets (143) 92   (135) 92    
Bad debt expense       556 206    
Changes in operating assets and liabilities:              
Decrease in accounts receivable       2,108 1,579    
(Increase) in interest receivable       (60) (10)    
Decrease (increase) in other assets       665 (492)    
(Increase) decrease in inventory       (295) 306    
Increase in accrued interest       966 1,541    
(Decrease) in accrued expenses       (135) (14,256)    
Increase in deferred revenue       3,428 4,508    
Increase in accrued property taxes       320 367    
Net cash provided by (used in) operating activities       14,103 (1,710)    
CASH FLOWS FROM INVESTING ACTIVITIES              
Real estate acquisitions       (26,820) (91,675)    
Real estate and other improvements       (8,970) (11,270)    
Principal receipts on notes receivable       3,469      
Casualty loss insurance recovery       (2)      
Issuance of note receivable       (6,113) (3,101)    
Proceeds from the sale of property       2,000      
Net cash used in investing activities       (36,436) (106,046)    
CASH FLOWS FROM FINANCING ACTIVITIES              
Borrowings from mortgage notes payable       21,000 101,790    
Repayments on mortgage notes payable       (1,218)      
Common stock repurchased       (6,517)      
Payment of offering costs       (152) (274)    
Payment of debt issuance costs       (235) (659)    
Dividends on common stock       (8,381) (6,350)    
Dividends on Series A preferred units       (3,510) (2,915)    
Dividends on Series B participating preferred stock       (4,528)      
Distributions to non-controlling interests in operating partnership, common       (1,248) (1,580)    
Net cash (used in) provided by financing activities       (4,789) 90,012    
NET DECREASE IN CASH       (27,122) (17,744)    
CASH, BEGINNING OF PERIOD       53,536 47,166    
CASH, END OF PERIOD 26,414 29,422   26,414 29,422    
Cash paid during period for interest       7,761 4,712    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:              
Distributions payable, Common units 4,767     4,767     $ 4,847
Additions to real estate improvements included in accrued expenses       626 1,286    
Financing fees included in accrued expenses         104    
Issuance of equity and contributions from redeemable non-controlling interests and non-controlling interest in operating partnership in conjunction with acquisitions         181,510    
Deferred offering costs amortized through equity in the period         104    
Real estate acquisition costs included in accrued expenses         1    
Property tax liability assumed in acquisitions       5      
Offering costs included in accrued expenses         31    
Common stock              
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:              
Distributions payable, Common units $ 4,191 $ 4,186   4,191 4,186    
Series A Preferred Units              
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:              
Distributions payable, preferred units       1,755 1,755    
Common Unit Holders              
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:              
Distributions payable       $ 584 $ 812