Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.21.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Assets    
Land $ 551,578 $ 551,578
Income producing property 2,443,104 2,432,039
Net income producing property, at cost 2,994,682 2,983,617
Accumulated depreciation and amortization (775,691) (749,014)
Net income producing property 2,218,991 2,234,603
Properties under development or held for future development 30,840 37,615
Total real estate held for investment, net 2,249,831 2,272,218
Cash and cash equivalents 3,017 7,700
Restricted cash 576 603
Rents and other receivables 59,396 58,257
Prepaid expenses and other assets 67,216 71,040
Total assets 2,380,036 2,409,818
Liabilities    
Notes payable, net 945,634 945,370
Line of credit 33,000 42,000
Accounts payable and other liabilities 60,339 58,773
Dividend payable 25,424 25,361
Advance rents 6,642 7,215
Tenant security deposits 10,095 9,990
Total liabilities 1,081,134 1,088,709
Shareholders’ equity    
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued or outstanding 0 0
Shares of beneficial interest, $0.01 par value; 150,000 and 100,000 shares authorized; 84,564 and 84,409 shares issued and outstanding, as of March 31, 2021 and December 31, 2020, respectively 846 844
Additional paid in capital 1,651,680 1,649,366
Distributions in excess of net income (325,469) (298,860)
Accumulated other comprehensive loss (28,473) (30,563)
Total shareholders’ equity 1,298,584 1,320,787
Noncontrolling interests in subsidiaries 318 322
Total equity 1,298,902 1,321,109
Total liabilities and equity $ 2,380,036 $ 2,409,818
Shares of beneficial interest, authorized (in shares) 150,000,000 100,000,000