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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 19,570 $ (9,274)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 109,030 148,129
Net amortization of deferred financing costs, discounts on available-for-sale securities and debt discounts 7,666 19,809
Net amortization of intangible lease assets and liabilities 10,489 15,757
Gain on sales of real estate assets (16,487) (4,896)
Gain on insurance proceeds   (3)
Gain on deconsolidation   (47,879)
Write-off of development projects 142 17
Share-based compensation expense 11,083 9,704
Loss on impairment 836  
Loss on extinguishment of debt 819  
Equity in earnings of unconsolidated affiliates (18,826) (2,822)
Distributions of earnings from unconsolidated affiliates 16,149 9,733
Change in estimate of uncollectable revenues 3,942 3,870
Change in deferred tax accounts (1,102) (1,648)
Changes in:    
Tenant and other receivables 96 (11)
Other assets 8,764 (1,980)
Accounts payable and accrued liabilities 3,852 (4,351)
Net cash provided by operating activities 156,023 134,155
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to real estate assets (27,239) (28,751)
Net proceeds from sales of real estate assets 72,223 9,221
Purchases of available-for-sale securities (286,844) (260,042)
Redemptions of available-for-sale securities 305,604 302,793
Additional investments in and advances to unconsolidated affiliates (5,542) (8,181)
Distributions in excess of equity in earnings of unconsolidated affiliates 1,239 5,187
Changes in other assets (1,846) (2,128)
Net cash provided by investing activities 57,595 18,099
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on mortgage and other indebtedness (131,923) (63,298)
Additions to deferred financing costs (94) (593)
Repurchases of common stock (23,933) (826)
Contributions from noncontrolling interests 13 117
Payment of tax withholdings for restricted stock awards and performance stock units (1,094) (1,820)
Distributions to noncontrolling interests (138) (2,014)
Dividends paid to common shareholders (38,057) (106,093)
Net cash used in financing activities (195,226) (174,527)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 18,392 (22,273)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 123,076 141,949
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 141,468 119,676
Reconciliation from condensed consolidated statements of cash flows to condensed consolidated balance sheets:    
Cash and cash equivalents 65,113 [1] 34,509
Restricted cash:    
Restricted cash 34,251 44,179
Mortgage escrows 42,104 40,988
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 141,468 119,676
SUPPLEMENTAL INFORMATION    
Cash paid for interest, net of amounts capitalized $ 102,278 $ 101,688
[1] As of September 30, 2024, includes $175,142 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $209,814 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 7.