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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 111,853 $ 112,658
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 96,774 97,585
Amortization of deferred financing costs and debt premiums 3,334 2,762
Amortization of above and below market lease intangibles, net (6,215) (5,287)
Stock-based compensation, net of capitalization 4,966 6,294
Equity in income of investments in real estate partnerships (14,495) (11,961)
Gain on sale of real estate, net of tax (101) (11,403)
Loss on early extinguishment of debt   180
Distribution of earnings from investments in real estate partnerships 16,076 16,960
Deferred compensation (income) expense (521) 2,089
Realized and unrealized loss (gain) on investments 686 (2,358)
Changes in assets and liabilities:    
Tenant and other receivables 9,051 1,220
Deferred leasing costs (1,748) (3,714)
Other assets (16,176) (15,724)
Accounts payable and other liabilities (43,735) (19,410)
Tenants' security, escrow deposits and prepaid rent 1,282 (2,133)
Net cash provided by operating activities 161,031 167,758
Cash flows from investing activities:    
Acquisition of operating real estate, net of cash acquired of $787 (83,232)  
Real estate development and capital improvements (101,386) (60,850)
Proceeds from sale of real estate 0 30,033
Proceeds from property insurance casualty claims 0 4,110
Issuance of notes receivable   (29,830)
Collection of notes receivable 120 1,561
Investments in real estate partnerships (230) (4,156)
Return of capital from investments in real estate partnerships   3,152
Dividends on investment securities 988 122
Purchase of investment securities (2,233) (92,527)
Proceeds from sale of investment securities 5,825 6,049
Net cash used in investing activities (180,148) (142,336)
Cash flows from financing activities:    
Tax withholding on stock-based compensation (6,760) (8,730)
Proceeds from sale of treasury stock 462 210
Contributions from noncontrolling interests 2,977 1,472
Distributions to and redemptions of noncontrolling interests (3,510) (4,364)
Distributions to exchangeable operating partnership unit holders (773) (742)
Dividends paid to common shareholders (127,684) (123,507)
Dividends paid to preferred shareholders (3,413) (3,413)
Proceeds from issuance of fixed rate unsecured notes, net of debt discount   398,468
Proceeds from unsecured credit facilities 280,000 132,419
Repayment of unsecured credit facilities (80,000) (254,419)
Proceeds from notes payable 10,000  
Repayment of notes payable (32,787) (7,597)
Scheduled principal payments (2,548) (3,183)
Payment of financing costs (194) (13,289)
Net cash provided by financing activities 35,770 113,325
Net increase in cash and cash equivalents and restricted cash 16,653 138,747
Cash and cash equivalents and restricted cash at beginning of the period 61,884 91,354
Cash and cash equivalents and restricted cash at end of the period 78,537 230,101
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $2,112 and $1,656 in 2025 and 2024, respectively) 64,540 47,981
Cash paid for income taxes, net of refunds   6,070
Supplemental disclosure of non-cash transactions:    
Common and Preferred stock, and exchangeable operating partnership dividends declared but not paid 131,020 126,807
Right of use assets obtained in exchange for new operating lease liabilities   829
Sale of leased asset in exchange for net investment in sales-type lease   703
Acquisition of operating real estate / unconsolidated real estate investments:    
Change in accrued capital expenditures 13,144 1,619
Stock-based compensation capitalized 583 434
Operating Real Estate    
Acquisition of operating real estate / unconsolidated real estate investments:    
Tenant and other receivable and other assets 593  
Acquired lease intangible assets 9,725  
Notes payable assumed in acquisition, at fair value 40,060  
Intangible liabilities, Accounts payable and other liabilities 18,957  
Unconsolidated Real Estate Investments    
Acquisition of operating real estate / unconsolidated real estate investments:    
Tenant and other receivable and other assets 941  
Acquired lease intangible assets 4,308  
Notes payable assumed in acquisition, at fair value 16,749  
Intangible liabilities, Accounts payable and other liabilities 1,119  
Partnership Interest [Member]    
Cash flows from operating activities:    
Net income 111,853 112,658
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 96,774 97,585
Amortization of deferred financing costs and debt premiums 3,334 2,762
Amortization of above and below market lease intangibles, net (6,215) (5,287)
Stock-based compensation, net of capitalization 4,966 6,294
Equity in income of investments in real estate partnerships (14,495) (11,961)
Gain on sale of real estate, net of tax (101) (11,403)
Loss on early extinguishment of debt 0 180
Distribution of earnings from investments in real estate partnerships 16,076 16,960
Deferred compensation (income) expense (521) 2,089
Realized and unrealized loss (gain) on investments 686 (2,358)
Changes in assets and liabilities:    
Tenant and other receivables 9,051 1,220
Deferred leasing costs (1,748) (3,714)
Other assets (16,176) (15,724)
Accounts payable and other liabilities (43,735) (19,410)
Tenants' security, escrow deposits and prepaid rent 1,282 (2,133)
Net cash provided by operating activities 161,031 167,758
Cash flows from investing activities:    
Acquisition of operating real estate, net of cash acquired of $787 (83,232) 0
Real estate development and capital improvements (101,386) (60,850)
Proceeds from sale of real estate 0 30,033
Proceeds from property insurance casualty claims 0 4,110
Issuance of notes receivable 0 (29,830)
Collection of notes receivable 120 1,561
Investments in real estate partnerships (230) (4,156)
Return of capital from investments in real estate partnerships 0 3,152
Dividends on investment securities 988 122
Purchase of investment securities (2,233) (92,527)
Proceeds from sale of investment securities 5,825 6,049
Net cash used in investing activities (180,148) (142,336)
Cash flows from financing activities:    
Tax withholding on stock-based compensation (6,760) (8,730)
Proceeds from sale of treasury stock 462 210
Contributions from noncontrolling interests 2,977 1,472
Distributions to and redemptions of noncontrolling interests (3,510) (4,364)
Distributions to partners (128,457) (124,249)
Dividends paid to preferred shareholders (3,413) (3,413)
Proceeds from issuance of fixed rate unsecured notes, net of debt discount 0 398,468
Proceeds from unsecured credit facilities 280,000 132,419
Repayment of unsecured credit facilities (80,000) (254,419)
Proceeds from notes payable 10,000 0
Repayment of notes payable (32,787) (7,597)
Scheduled principal payments (2,548) (3,183)
Payment of financing costs (194) (13,289)
Net cash provided by financing activities 35,770 113,325
Net increase in cash and cash equivalents and restricted cash 16,653 138,747
Cash and cash equivalents and restricted cash at beginning of the period 61,884 91,354
Cash and cash equivalents and restricted cash at end of the period 78,537 230,101
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $2,112 and $1,656 in 2025 and 2024, respectively) 64,540 47,981
Cash paid for income taxes, net of refunds 0 6,070
Supplemental disclosure of non-cash transactions:    
Common and Preferred stock, and exchangeable operating partnership dividends declared but not paid 131,020 126,807
Right of use assets obtained in exchange for new operating lease liabilities 0 829
Sale of leased asset in exchange for net investment in sales-type lease 0 703
Acquisition of operating real estate / unconsolidated real estate investments:    
Change in accrued capital expenditures 13,144 1,619
Stock-based compensation capitalized 583 $ 434
Partnership Interest [Member] | Operating Real Estate    
Acquisition of operating real estate / unconsolidated real estate investments:    
Tenant and other receivable and other assets 593  
Acquired lease intangible assets 9,725  
Notes payable assumed in acquisition, at fair value 40,060  
Intangible liabilities, Accounts payable and other liabilities 18,957  
Partnership Interest [Member] | Unconsolidated Real Estate Investments    
Acquisition of operating real estate / unconsolidated real estate investments:    
Tenant and other receivable and other assets 941  
Acquired lease intangible assets 4,308  
Notes payable assumed in acquisition, at fair value 16,749  
Intangible liabilities, Accounts payable and other liabilities $ 1,119