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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES    
Net Income $ 31,845 $ 9,156
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 35,803 31,211
Stock-based compensation 2,614 1,948
Amortization of straight-line rent receivable (1,751) (2,132)
Amortization of straight-line rent liability 156 184
Gain on sales of real estate assets (23,408)  
Impairment of real estate assets 323  
Provision for bad debts, net 66 (39)
Changes in operating assets and liabilities:    
Other assets (1,662) 76
Accounts payable and accrued liabilities (14,633) (14,267)
Other liabilities 19 (2,550)
Net cash provided by operating activities 29,372 23,587
INVESTING ACTIVITIES    
Acquisitions of real estate (14,143) (37,953)
Development of real estate (2,804) (7,995)
Additional long-lived assets (18,997) (10,835)
Proceeds from sales of real estate 79,747  
Proceeds from mortgages and notes receivable repayments 3 5
Net cash provided by (used in) investing activities 43,806 (56,778)
FINANCING ACTIVITIES    
Net borrowings (repayments) on unsecured credit facility 15,000 (7,000)
Borrowings of mortgage notes and bonds payable   11,500
Repayments on notes and bonds payable (1,032) (11,317)
Dividends paid (34,937) (30,727)
Net proceeds from issuance of common stock 791 70,181
Common stock redemptions (1,125) (1,264)
Debt issuance and assumption costs   (110)
Net cash provided by (used in) financing activities (21,303) 31,263
Increase (decrease) in cash, cash equivalents and restricted cash 51,875 (1,928)
Cash, cash equivalents and restricted cash at beginning of period 54,507 4,102
Cash, cash equivalents and restricted cash at beginning of period 106,382 2,174
Supplemental Cash Flow Information:    
Interest paid 14,536 15,151
Invoices accrued for construction, tenant improvements and other capitalized costs 11,394 16,177
Capitalized interest $ 237 $ 179