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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 419 $ 9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, and amortization 2,000 2,115
Amortization of deferred financing fees and discounts/premiums on debt 74 85
Amortization of net origination fees related to notes receivable   (1)
Stock based compensation, net of forfeitures 242 394
Loss (gain) on disposition of assets 86 (418)
Bad debt expense 41 177
Changes in operating assets and liabilities:    
Increase in accounts receivable (294) (1,735)
Increase in interest receivable (49) (209)
Increase in other assets 759 1,093
(Decrease) in inventory (69) 278
(Decrease) Increase in accrued interest 317 (327)
Decrease in accrued expenses (1,306) (187)
(Decrease) Increase in deferred revenue 10,109 12,096
(Decrease) Increase in accrued property taxes 538 460
Net cash provided by (used in) operating activities 12,867 13,830
CASH FLOWS FROM INVESTING ACTIVITIES    
Real estate and other improvements (1,148) (2,183)
Principal receipts on notes receivable 441 307
Issuance of notes receivable (5) (246)
Proceeds from sale of property 167 4,725
Net cash provided by (used in) investing activities (545) 2,603
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments on mortgage notes payable (42) (2,133)
Participating preferred stock repurchased (977) (164)
Common stock repurchased (1,397) (6,540)
Payment of debt issuance costs (130)  
Dividends on common stock (1,498) (1,759)
Distributions to non-controlling interest in operating partnership (95) (78)
Net cash used in financing activities (9,889) (14,174)
NET DECREASE IN CASH 2,433 2,259
CASH, BEGINNING OF PERIOD 12,561 16,891
CASH, END OF PERIOD 14,994 19,150
Cash paid during period for interest 4,352 5,157
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable, common stock 1,498 1,592
Dividend payable, common units 95 120
Additions to real estate improvements included in accrued expenses   155
Right of Use Asset 198 166
Lease Liability 198 166
Series A Preferred Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends on Series A preferred units (3,510) (3,500)
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable, common units 900  
Preferred distributions accrued 878 878
Series B Participating Preferred Stock    
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends on Series A preferred units $ (2,240)  
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Preferred distributions accrued   $ 2,249