v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (3,647) $ (3,643)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 24,943 21,536
Credit losses on lease related receivables 1,451 703
Share-based compensation expense 1,090 1,188
Net amortization of debt premiums, discounts and related financing costs 1,058 1,048
Loss on extinguishment of debt 0 54
Gain on land easements (1,410) 0
Changes in operating other assets (941) (872)
Changes in operating other liabilities (1,328) (3,725)
Net cash provided by operating activities 21,216 16,289
Cash flows from investing activities    
Capital improvements to real estate (13,617) (5,569)
Non-real estate capital improvements (5) (222)
Payments received for land easements 3,862 0
Net cash used in investing activities (9,760) (5,791)
Cash flows from financing activities    
Line of credit borrowings (repayments), net 3,000 (20,000)
Dividends paid (15,911) (14,917)
Repayments of unsecured term loan debt 0 (100,000)
Proceeds from term loan 0 125,000
Payment of financing costs 0 (844)
Distributions to noncontrolling interests (2) (2)
Proceeds from dividend reinvestment program 0 248
Payment of tax withholdings for restricted share awards (178) (1,304)
Net cash used in financing activities (13,091) (11,819)
Net decrease in cash, cash equivalents and restricted cash (1,635) (1,321)
Cash, cash equivalents and restricted cash at beginning of period 8,538 9,852
Cash, cash equivalents and restricted cash at end of period 6,903 8,531
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 11,972 8,954
Change in accrued capital improvements and development costs (7,309) 216
Dividend payable 15,888 15,869
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 4,199 7,044
Restricted cash 2,704 1,487
Cash, cash equivalents and restricted cash $ 6,903 $ 8,531

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