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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Cash flows from operating activities      
Net loss $ (2,611) $ (7,118) $ (6,254)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization   48,838 42,951
Credit losses on lease related receivables   2,548 1,512
Share-based compensation expense   2,135 2,599
Net amortization of debt premiums, discounts and related financing costs   2,117 2,101
Loss on extinguishment of debt 0 0 54
Gain on land easements   (1,410) 0
Changes in operating other assets   (666) 119
Changes in operating other liabilities   3,629 3,168
Net cash provided by operating activities   50,073 46,250
Cash flows from investing activities      
Capital improvements to real estate   (21,487) (9,890)
Non-real estate capital improvements   (59) (293)
Payments received for land easements   3,862 0
Net cash used in investing activities   (17,684) (10,183)
Cash flows from financing activities      
Line of credit repayments, net   (1,000) (31,000)
Dividends paid   (31,843) (30,777)
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   (5) (4)
Proceeds from dividend reinvestment program 249 0 497
Payment of tax withholdings for restricted share awards   (187) (1,350)
Net cash used in financing activities   (33,035) (38,478)
Net decrease in cash, cash equivalents and restricted cash   (646) (2,411)
Cash, cash equivalents and restricted cash at beginning of period   8,538 9,852
Cash, cash equivalents and restricted cash at end of period 7,441 7,892 7,441
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized   16,140 10,495
Change in accrued capital improvements and development costs   (5,339) 3,395
Dividend payable 15,834 15,905 15,834
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 5,554 5,629 5,554
Restricted cash 1,887 2,263 1,887
Cash, cash equivalents and restricted cash $ 7,441 $ 7,892 $ 7,441

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