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CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
OPERATING ACTIVITIES    
Net Income $ 8,514 $ 7,308
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization from continuing operations 17,168 15,562
Depreciation and amortization from discontinued operations 0 53
Stock-based compensation expense 1,677 1,370
Gain on sales of land and real estate investments (95) 0
Changes in operating assets and liabilities:    
Accrued income and other assets 1,768 (24)
Accounts payable, accrued expenses and prepaid rent (11,320) (6,910)
Other (101) (98)
NET CASH PROVIDED BY OPERATING ACTIVITIES 17,611 17,261
INVESTING ACTIVITIES    
Real estate development (21,231) (17,254)
Real estate improvements (4,258) (4,577)
Proceeds from sales of real estate investments 3,471 0
Repayments on mortgage loans receivable 39 26
Changes in accrued development costs 3,413 473
Changes in other assets and other liabilities (2,325) (2,214)
NET CASH USED IN INVESTING ACTIVITIES (20,891) (23,546)
FINANCING ACTIVITIES    
Proceeds from unsecured bank credit facilities 64,078 66,325
Repayments on unsecured bank credit facilities (53,671) (50,890)
Repayments on secured debt (5,532) (6,106)
Debt issuance costs (21) (1,441)
Distributions paid to stockholders (not including dividends accrued on unvested restricted stock) (17,322) (15,975)
Proceeds from common stock offerings 19,602 13,798
Proceeds from dividend reinvestment plan 50 50
Other (2,032) (710)
NET CASH PROVIDED BY FINANCING ACTIVITIES 5,152 5,051
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,872 (1,234)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 8 1,258
CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,880 24
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest, net of amount capitalized of $1,110 and $1,291 for 2014 and 2013, respectively $ 9,701 $ 8,257