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CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
OPERATING ACTIVITIES    
Net Income $ 35,617 $ 23,612
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization from continuing operations 52,101 48,784
Depreciation and amortization from discontinued operations 0 107
Stock-based compensation expense 4,005 3,204
Gain on sales of land and real estate investments (7,610) (24)
Changes in operating assets and liabilities:    
Accrued income and other assets 2,197 2,222
Accounts payable, accrued expenses and prepaid rent 8,658 10,765
Other (53) (71)
NET CASH PROVIDED BY OPERATING ACTIVITIES 94,915 88,599
INVESTING ACTIVITIES    
Real estate development (80,748) (61,561)
Purchases of real estate (41,751) (72,397)
Real estate improvements (12,931) (16,053)
Proceeds from sales of land and real estate investments 17,269 1,313
Repayments on mortgage loans receivable 118 78
Changes in accrued development costs 7,483 2,062
Changes in other assets and other liabilities (15,529) (9,431)
NET CASH USED IN INVESTING ACTIVITIES (126,089) (155,989)
FINANCING ACTIVITIES    
Proceeds from unsecured bank credit facilities 251,033 307,725
Repayments on unsecured bank credit facilities (255,465) (272,218)
Repayments on secured debt (43,268) (51,920)
Proceeds from unsecured debt 75,000 100,000
Debt issuance costs (434) (1,650)
Distributions paid to stockholders (not including dividends accrued on unvested restricted stock) (52,231) (48,252)
Proceeds from common stock offerings 59,110 33,490
Proceeds from exercise of stock options 0 120
Proceeds from dividend reinvestment plan 154 156
Other (2,410) (1,112)
NET CASH PROVIDED BY FINANCING ACTIVITIES 31,489 66,339
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 315 (1,051)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 8 1,258
CASH AND CASH EQUIVALENTS AT END OF PERIOD 323 207
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest, net of amount capitalized of $3,682 and $3,841 for 2014 and 2013, respectively $ 26,788 $ 24,852