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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flow from Operating Activities:      
Net Income (Loss) Attributable to the Company $ (1,965) $ 5,530 $ 3,158
Adjustments to Reconcile Net Income (Loss) Attributable to the Company to Net Cash Provided by Operating Activities:      
Depreciation and Amortization 65,049 44,173 28,855
Amortization of Intangible Liabilities to Income Property Revenue (254) 2,303 2,161
Amortization of Deferred Financing Costs to Interest Expense 1,047 970 755
Amortization of Discount on Convertible Debt 159 159 189
Gain on Disposition of Real Estate and Intangible Lease Assets and Liabilities (3,763) (7,543) (3,869)
Gain on Disposition of Subsurface Interests (4,545)    
Gain on Disposition of Commercial Loans and Investments     (802)
Loss on Disposition of Mitigation Bank     11,713
Provision for Impairment 676 1,556 0
Accretion of Commercial Loans and Investments Origination Fees (276) (137) (174)
Non-Cash Imputed Interest (29) (29) (126)
Deferred Income Taxes (458) 521 (3,013)
Unrealized Loss on Investment Securities 1,081 3,902 1,697
Extinguishment of Contingent Obligation   (2,815)  
Non-Cash Compensation 3,637 3,673 3,232
Decrease (Increase) in Assets:      
Refundable Income Taxes 176 202 (5)
Land and Development Costs 2 (46) 7
Mitigation Credits and Mitigation Credit Rights 1,044 1,537 10,427
Other Assets (4,047) (4,617) (5,067)
Increase (Decrease) in Liabilities:      
Accounts Payable 522 214 1,866
Accrued and Other Liabilities 6,311 (2,597) 3,863
Deferred Revenue 4,983 (535) 1,230
Net Cash Provided By Operating Activities 69,350 46,421 56,097
Cash Flow from Investing Activities:      
Acquisition of Real Estate and Intangible Lease Assets and Liabilities (224,406) (80,279) (297,831)
Investments in and Improvements to Real Estate (17,492) (22,670) (16,095)
Acquisition of Commercial Loans and Investments (63,930) (32,869) (53,369)
Proceeds from Disposition of Property, Plant, and Equipment, Net 37,157 84,336 40,777
Proceeds from Disposition of Subsurface Interests 4,974    
Principal Payments Received on Commercial Loans and Investments 20,335 986 61,628
Acquisition of Investment Securities (447) (3,239) (2,739)
Proceeds from the Sale of Investment Securities 1,655 1,174  
Net Cash Used In Investing Activities (242,154) (52,561) (267,629)
Cash Flow From Financing Activities:      
Proceeds from Long-Term Debt 366,000 148,850 380,500
Payments on Long-Term Debt (342,000) (99,600) (233,750)
Cash Paid for Loan Fees (1,093) (180) (2,724)
Cash Received Exercise of Stock Options and Common Stock Issuance 647 375 315
Proceeds from Issuance of Preferred Stock, Net of Underwriting Discount and Expenses 32,996    
Cash Used to Purchase Common and Preferred Stock (664) (6,439) (2,792)
Cash Paid for Vesting of Restricted Stock (1,274) (1,028) (845)
Proceeds from (Cash Paid for) Issuance of Common and Preferred Stock, Net 164,828 (175) 94,350
Dividends Paid - Preferred Stock (6,814) (4,772) (4,781)
Dividends Paid - Common Stock (40,280) (34,266) (28,896)
Net Cash Provided By Financing Activities 172,346 2,765 201,377
Net Decrease in Cash, Cash Equivalents and Restricted Cash (458) (3,375) (10,155)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 17,819 21,194 31,349
Cash, Cash Equivalents and Restricted Cash, End of Period 17,361 17,819 21,194
Reconciliation of Cash to the Consolidated Balance Sheets:      
Cash and Cash Equivalents 9,017 10,214 19,333
Restricted Cash 8,344 7,605 1,861
Total Cash $ 17,361 $ 17,819 $ 21,194