XML 33 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows
3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
Sep. 30, 2020
USD ($)
Sep. 30, 2019
USD ($)
OPERATING ACTIVITIES      
Net (loss) income $ 1,404,000 $ (6,703,000) $ 11,480,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Gain on sales (679,000) (679,000) (2,942,000)
Impairment charges   7,607,000  
Straight-line rents and expenses, net   1,304,000 (298,000)
Provision for doubtful accounts   1,010,000 233,000
Depreciation and amortization 10,035,000 38,208,000 31,022,000
Amortization of intangible lease liabilities, net (299,000) (1,065,000) (2,212,000)
Expense relating to share-based compensation, net   2,753,000 3,078,000
Amortization of deferred financing costs   969,000 967,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Rents and other receivables   (3,381,000) (2,068,000)
Prepaid expenses and other   (12,280,000) (5,788,000)
Accounts payable and accrued liabilities   (1,574,000) 2,922,000
Net cash provided by operating activities   26,169,000 36,394,000
INVESTING ACTIVITIES      
Expenditures for real estate improvements   (29,815,000) (23,816,000)
Net proceeds from sales of real estate   5,013,000 18,651,000
Acquisition of real estate     (9,083,000)
Net cash (used in) investing activities   (24,802,000) (14,248,000)
FINANCING ACTIVITIES      
Repayments under revolving credit facility   (83,100,000) (16,000,000)
Advances under revolving credit facility   98,000,000 23,000,000
Mortgage repayments   (797,000) (766,000)
Payments of debt financing costs   (305,000)  
Noncontrolling interests:      
Distributions to limited partners   (37,000) (84,000)
Redemption of OP Units     (43,000)
Common stock sales less issuance expenses, net   11,000 18,000
Common stock repurchases     (6,844,000)
Preferred stock dividends   (8,064,000) (8,064,000)
Distributions to common shareholders   (6,254,000) (13,357,000)
Net cash (used in) financing activities   (546,000) (22,140,000)
Net increase in cash, cash equivalents and restricted cash   821,000 6,000
Cash, cash equivalents and restricted cash at beginning of year   2,747,000 1,977,000
Cash, cash equivalents and restricted cash at end of period 3,568,000 3,568,000 1,983,000
Reconciliation to consolidated balance sheets:      
Cash and cash equivalents 3,568,000 3,568,000 1,983,000
Cash, cash equivalents and restricted cash at end of period $ 3,568,000 $ 3,568,000 $ 1,983,000