XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 49,644 $ 38,587
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 7,240 7,543
Straight-line rental income (482) 552
Other amortization 1,299 1,281
Amortization of right-of-use asset 50 0
Share-based compensation 5,189 10,977
Change in assets and liabilities:    
Rents receivable and other assets (582) (1,523)
Accounts payable, accrued expenses and other (7,725) (6,832)
Rent collected in advance 716 777
Net cash provided by operating activities 55,349 51,362
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (10,925) (3,073)
Cash used in investing activities (10,925) (3,073)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase and retirement of common shares (3,056) (3,395)
Distributions to common shareholders (2,036) (468,232)
Distributions to preferred shareholders (3,994) (3,994)
Distributions to holders of noncontrolling interest (50) (1,843)
Net cash used in financing activities (9,136) (477,464)
Increase (decrease) in cash and cash equivalents 35,288 (429,175)
Cash and cash equivalents at beginning of period 2,160,535 2,582,222
Cash and cash equivalents at end of period 2,195,823 2,153,047
SUPPLEMENTAL CASH FLOW INFORMATION:    
Taxes paid, net 182 1,946
Recognition of right-of-use asset and lease liability 873 0
NON-CASH INVESTING ACTIVITIES:    
Accrued capital expenditures 2,108 1,697
NON-CASH FINANCING ACTIVITIES:    
Distributions payable 3,663 6,868
OP Unit redemption $ 1,444 $ 0