v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities        
Net loss $ (2,970,000) $ (43,618,000) $ (10,088,000) $ (49,872,000)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization     72,312,000 64,855,000
Credit losses on lease related receivables     4,046,000 2,876,000
Real estate impairment 0 41,860,000 0 41,860,000
Share-based compensation expense     3,714,000 4,031,000
Net amortization of debt premiums, discounts and related financing costs     3,268,000 3,160,000
Loss on extinguishment of debt 147,000 0 147,000 54,000
Gain on land easements     (1,410,000) 0
Changes in operating other assets     (3,239,000) (10,591,000)
Changes in operating other liabilities     1,989,000 5,443,000
Net cash provided by operating activities     70,739,000 61,816,000
Cash flows from investing activities        
Real estate acquisitions, net     0 (107,595,000)
Capital improvements to real estate     (33,356,000) (22,293,000)
Non-real estate capital improvements     (128,000) (395,000)
Payments received for land easements     3,862,000 0
Net cash used in investing activities     (29,622,000) (130,283,000)
Cash flows from financing activities        
Line of credit borrowings, net     11,000,000 94,000,000
Dividends paid     (47,749,000) (48,495,000)
Repayments of unsecured term loan debt     0 (100,000,000)
Proceeds from term loan     0 125,000,000
Payment of financing costs     (5,500,000) (844,000)
Distributions to noncontrolling interests     (7,000) (6,000)
Proceeds from dividend reinvestment program     0 497,000
Payment of tax withholdings for restricted share awards     (201,000) (1,354,000)
Net cash (used in) provided by financing activities     (42,457,000) 68,798,000
Net (decrease) increase in cash, cash equivalents and restricted cash     (1,340,000) 331,000
Cash, cash equivalents and restricted cash at beginning of period     8,538,000 9,852,000
Cash, cash equivalents and restricted cash at end of period 7,198,000 10,183,000 7,198,000 10,183,000
Supplemental disclosure of cash flow information:        
Cash paid for interest, net of amounts capitalized     28,140,000 20,066,000
Change in accrued capital improvements and development costs     (6,749,000) 7,343,000
Dividend payable 15,906,000 15,868,000 15,906,000 15,868,000
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 4,840,000 8,079,000 4,840,000 8,079,000
Restricted cash 2,358,000 2,104,000 2,358,000 2,104,000
Cash, cash equivalents and restricted cash $ 7,198,000 $ 10,183,000 $ 7,198,000 $ 10,183,000

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