XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net income $ 10,340 $ 11,207
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 9,411 8,343
Stock-based compensation 2,052 1,890
Straight-line rent receivable (3,192) (2,697)
Straight-line rent liability 75 79
Construction mortgage interest income (527)  
Write-off of pre-acquisition costs 190 137
Changes in operating assets and liabilities    
Other assets (5,493) 1,446
Accounts payable and accrued liabilities 1,166 (913)
Deferred revenues (954) (169)
Net cash provided by operating activities 13,068 19,323
Investing activities    
Acquisitions of real estate (23,432) (10,092)
Capital expenditures for real estate (761) (769)
Funding of mortgage notes and note receivable (31,667) (12,500)
Repayments of mortgage note and note receivable 1,000 125
Capitalized pre-acquisition costs, net (311) (263)
Capital expenditures for corporate property   (5)
Net cash used in investing activities (55,171) (23,504)
Financing activities    
Net borrowings (repayments) on secured revolving credit facility 48,800 (104,500)
Dividends paid to common stockholders (13,406) (13,320)
Distributions to noncontrolling interest (1,601) (1,700)
Taxes remitted upon vesting of restricted stock (75)  
Deferred loan costs (65) (2,738)
Capitalized pre-offering costs (18)  
Proceeds from borrowings on term loan   125,000
Cancellation of restricted stock   (50)
Offering costs   (42)
Net cash provided by financing activities 33,635 2,650
Decrease in cash, cash equivalents, and restricted cash (8,468) (1,531)
Cash, cash equivalents and restricted cash at beginning of period 12,640 9,771
Cash, cash equivalents and restricted cash at end of period 4,172 8,240
Supplemental Cash Flow Information    
Interest paid 4,858 2,465
Texas gross margins taxes paid, net of reimbursement 180 71
Accrued pre-acquisition costs 116 100
Accrued deferred loan costs $ 9 $ 27