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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,194 $ 13,927
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation, depletion and amortization 4,325 5,905
Amortization of deferred financing fees and discounts/premiums on debt 555 509
Amortization of net origination fees related to notes receivable (17) (16)
Stock-based compensation 1,873 1,353
(Gain) on disposition of assets, net (1,884) (23,179)
(Income) from forfeited deposits (1,205)  
(Income) loss from equity method investment (103) 17
Bad debt expense   15
Current and expected credit losses (27)  
Impairment of assets   3,840
Amortization of dedesignated interest rate swap   162
Loss on debt modification 55  
Changes in operating assets and liabilities:    
(Increase) Decrease in accounts receivable (2,903) 1,425
(Increase) Decrease in interest receivable (2) (51)
(Increase) Decrease in other assets 2,421 2,384
(Increase) Decrease in inventory (450) (450)
Increase (Decrease) in accrued interest 323 670
Increase (Decrease) in accrued expenses (3,157) (2,162)
Increase (Decrease) in deferred revenue 88 603
Increase (Decrease) in accrued property taxes 442 780
Net cash and cash equivalents provided by operating activities 1,528 5,732
CASH FLOWS FROM INVESTING ACTIVITIES    
Real estate acquisitions (16,255) (20,010)
Real estate and other improvements (1,304) (4,322)
Distributions from equity method investees 161 50
Collections of principal on loans 10,011 2,107
Issuance of loans and financing receivables (1,184)  
Proceeds from sale of property 1,522 121,741
Net cash and cash equivalents provided by (used in) investing activities (7,049) 99,566
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from mortgage notes payable 81,001 77,501
Repayments on mortgage notes payable (50,134) (94,199)
Issuance of stock 34 121
Common stock repurchased   (68,429)
Payment of debt issuance costs (93) (222)
Payment of swap fees (328) (291)
Redemption of Series A preferred units   (8,100)
Redemption of common units   (432)
Dividends on common stock (18,740) (9,373)
Shares withheld for income taxes on vesting of equity-based compensation (179) (38)
Distributions on Series A preferred units (2,970) (3,210)
Distributions to non-controlling interests in operating partnership, common (469) (223)
Net cash and cash equivalents provided by (used in) financing activities 8,122 (106,895)
Net increase (decrease) in cash and cash equivalents 2,601 (1,597)
Cash and cash equivalents, beginning of period 5,489 7,654
Cash and cash equivalents, end of period 8,090 6,057
Cash paid during period for interest 15,948 16,631
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Deferred net gain from seller-financed dispositions 2,107  
Additions to real estate improvements included in accrued expenses 242 314
Origination fees included in notes receivable 15  
Swap fees payable included in accrued interest 36 36
Prepaid property tax liability acquired in acquisitions 32 3
Right-of-use assets obtained in exchange for new operating lease liabilities 13 386
Common stock    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable, common stock 2,893 2,900
Common Unit Holders    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable, common units 72 72
Series A Preferred Units    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Distributions payable, Series A preferred units $ 2,228 $ 2,228