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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash flow from operating activities:            
Net income $ 5,353   $ 60,409 $ 20,655 $ 74,364  
Adjustments to reconcile net income to net cash flow provided by operating activities:            
Depreciation and amortization 58,698   51,021 112,714 101,385  
Stock-based compensation       3,635 3,628  
Amortization and write-off of debt issuance costs and fair market value of debt adjustments       2,206 2,782  
Equity in net income of joint ventures (4,618)   (1,381) (5,977) (1,550)  
Operating cash distributions from joint ventures       258 1,111  
Gain on sale and change in control of interests 0 $ (3,700) (41,970) (3,749) (45,326)  
Gain on disposition of real estate, net 22   (4,597) (183) (4,455)  
Impairment charges 0   2,536 0 2,536  
Assumption of building due to ground lease termination       0 (1,800)  
Net change in accounts receivable       3,250 5,110  
Net change in accounts payable and accrued expenses       (1,623) (1,659)  
Net change in other operating assets and liabilities       (4,389) (4,019)  
Total adjustments       106,142 57,743  
Net cash flow provided by operating activities       126,797 132,107  
Cash flow from investing activities:            
Real estate acquired, net of liabilities and cash assumed       (74,783) (297,966)  
Real estate developed and improvements to operating real estate       (51,278) (57,092)  
Proceeds from disposition of joint venture interests       3,405 39,247  
Proceeds from disposition of real estate       0 21,555  
Equity contributions to joint ventures       (86) (117)  
Repayment of joint venture advances, net       318 0  
Distributions from unconsolidated joint ventures       9,468 5,422  
Net cash flow used for investing activities       (112,956) (288,951)  
Cash flow from financing activities:            
Proceeds from revolving credit facility, net       175,000 125,000  
Proceeds from unsecured term loan       0 100,000  
Payment of debt issuance costs       0 (7,582)  
Repayment of senior notes       (87,209) 0  
Repayment of mortgage debt       (625) (35,134)  
Proceeds from issuance of common shares, net of offering expenses       0 36,857  
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan       (4,844) (5,469)  
Repurchase of common shares       (26,611) 0  
Repurchase of operating partnership units       (1,735) 0  
Distributions to redeemable operating partnership units       (37) (35)  
Dividends paid       (60,401) (58,865)  
Net cash flow (used for) provided by financing activities       (6,462) 154,772  
Net increase (decrease) in cash, cash equivalents and restricted cash       7,379 (2,072)  
Cash, cash equivalents and restricted cash, beginning of period   $ 21,214   21,214 43,252 $ 43,252
Cash, cash equivalents and restricted cash, end of period $ 28,593   $ 41,180 $ 28,593 $ 41,180 $ 21,214