XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 17,663 $ 17,491
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of deferred leasing costs 12,017 12,327
Amortization of deferred debt costs 559 477
Compensation costs of stock and option grants 290 286
Credit losses (recoveries) on operating lease receivables, net (96) 25
Decrease in accounts receivable and accrued income 3,805 2,277
Additions to deferred leasing costs (1,519) (496)
Decrease in other assets 1,083 2,519
Increase in accounts payable, accrued expenses and other liabilities 2,495 6,386
Decrease in deferred income (199) (1,321)
Net cash provided by operating activities 36,098 39,971
Cash flows from investing activities:    
Additions to real estate investments (5,019) (2,653)
Additions to development and redevelopment projects (38,137) (14,176)
Net cash used in investing activities (43,156) (16,829)
Cash flows from financing activities:    
Proceeds from notes payable 15,300 0
Repayments on notes payable (17,419) (36,473)
Repayments on revolving credit facility (11,000) (8,000)
Additions to deferred debt costs (378) (3,194)
Proceeds from the issuance of:    
Common stock 543 3,257
Partnership units 0 653
Distributions to:    
Common stockholders (14,171) (13,583)
Noncontrolling interests (5,486) (5,284)
Net cash provided by (used in) financing activities 5,591 (25,423)
Net decrease in cash and cash equivalents (1,467) (2,281)
Cash and cash equivalents, beginning of period 13,279 14,594
Cash and cash equivalents, end of period 11,812 12,313
Supplemental disclosure of cash flow information:    
Cash paid for interest 11,002 9,737
Accrued capital expenditures included in accounts payable, accrued expenses, and other liabilities 29,323 12,135
Revolving Credit Facility    
Cash flows from financing activities:    
Proceeds from revolving credit facility 41,000 40,000
Series D Cumulative Redeemable Preferred Stock    
Distributions to:    
Preferred stockholders (1,148) (1,149)
Series E Cumulative Redeemable Preferred Stock    
Distributions to:    
Preferred stockholders $ (1,650) $ (1,650)