Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (8,139) $ (3,687)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 57,194 59,319
Credit losses on lease related receivables 1,337 2,271
Loss on sale of real estate 0 7,539
Share-based compensation expense 3,750 3,783
Net amortization of debt premiums, discounts and related financing costs 2,227 1,314
Loss on interest rate derivatives 5,760 0
Gain on extinguishment of debt 0 (262)
Changes in operating other assets (6,071) (4,482)
Changes in operating other liabilities 8,564 (14,613)
Net cash provided by operating activities 64,622 51,182
Cash flows from investing activities    
Net cash received for sale of real estate 0 56,353
Capital improvements to real estate (10,370) (25,452)
Development in progress (7,794) (18,646)
Non-real estate capital improvements (31) (124)
Net cash (used in) provided by investing activities (18,195) 12,131
Cash flows from financing activities    
Line of credit borrowings, net 1,000 125,000
Dividends paid (50,821) (49,485)
Principal payments – mortgage notes payable 0 (46,567)
Repayments of unsecured notes payable 0 (250,000)
Proceeds from term loan 0 150,000
Payment of Financing and Stock Issuance Costs 0 (560)
Distributions to noncontrolling interests (7) (7)
Proceeds from dividend reinvestment program 1,009 1,065
Net proceeds from equity issuances 467 1,241
Payment of tax withholdings for restricted share awards (335) (150)
Net cash used in financing activities (48,687) (69,463)
Net decrease in cash, cash equivalents and restricted cash (2,260) (6,150)
Cash, cash equivalents and restricted cash at beginning of period 8,290 14,751
Cash, cash equivalents and restricted cash at end of period 6,030 8,601
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 12,038 21,380
Change in accrued capital improvements and development costs (4,697) 3,687
Dividend payable 25,474 24,760
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 5,435 7,971
Restricted cash 595 630
Cash, cash equivalents and restricted cash $ 6,030 $ 8,601