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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities    
Net income $ 46,794 $ 37,238
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 29,740 20,700
Amortization from above (below) market lease intangibles, net 7,588 6,501
Amortization from financing and credit facility costs 647 650
Stock-based compensation 2,238 1,938
Provision for impairment 1,128 1,609
Settlement of interest rate swap (33) 802
(Gain) loss on sale of assets (6,597) (6,376)
(Increase) decrease in accounts receivable (8,125) (3,837)
(Increase) decrease in other assets (435) (963)
Increase (decrease) in accounts payable, accrued expenses, and other liabilities (5,166) (663)
Net Cash Provided by Operating Activities 67,779 57,599
Cash Flows from Investing Activities    
Acquisition of real estate investments and other assets (504,390) (320,930)
Development of real estate investments and other assets (including capitalized interest of $55 in 2020, $203 in 2019) (6,961) (10,363)
Payment of leasing costs (388) (224)
Net proceeds from sale of assets 42,599 26,803
Net Cash Used in Investing Activities (469,140) (304,714)
Cash Flows from Financing Activities    
Proceeds (costs) from common stock offerings, net 541,715 244,512
Repurchase of common shares (1,630) (1,398)
Unsecured revolving credit facility borrowings (repayments), net (89,000) 35,000
Payments of mortgage notes payable (3,238) (1,353)
Payments of unsecured term loans   (18,543)
Dividends paid (51,488) (42,180)
Distributions to Non-Controlling Interest (407) (386)
Payments for financing costs (364) (83)
Net Cash Provided by Financing Activities 395,588 215,569
Net Increase (Decrease) in Cash and Cash Equivalents (5,773) (31,546)
Cash and cash equivalents and cash held in escrow, beginning of period 42,157 53,975
Cash and cash equivalents and cash held in escrow, end of period 36,384 22,429
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest (net of amounts capitalized) 17,930 15,510
Cash paid for income tax 841 748
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Operating lease right of use assets added upon implementation of leases standard on January 1, 2019   7,505
Additional operating lease right of use assets added under new ground leases after January 1, 2019   12,167
Dividends and limited partners' distributions declared and unpaid 32,519 24,119
Accrual of development, construction and other real estate investment costs $ 1,787 $ 6,588