v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities        
Net loss $ (2,611) $ (8,874) $ (6,254) $ (16,598)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization     42,951 46,239
Credit losses on lease related receivables     1,512 1,344
Share-based compensation expense     2,599 4,240
Net amortization of debt premiums, discounts and related financing costs     2,101 2,006
Loss on extinguishment of debt 0 0 54 0
Changes in operating other assets     119 (2,469)
Changes in operating other liabilities     3,168 (783)
Net cash provided by operating activities     46,250 33,979
Cash flows from investing activities        
Real estate acquisitions, net     0 (204,433)
Capital improvements to real estate     (9,890) (11,395)
Development in progress     0 (659)
Non-real estate capital improvements     (293) (642)
Net cash used in investing activities     (10,183) (217,129)
Cash flows from financing activities        
Line of credit repayments, net     (31,000) 0
Dividends paid     (30,777) (29,524)
Repayments of unsecured term loan debt     (100,000) 0
Proceeds from term loan     125,000 0
Payment of financing costs     (844) (39)
Distributions to noncontrolling interests     (4) (5)
Proceeds from dividend reinvestment program 249 254 497 518
Net proceeds from equity issuances     0 26,851
Payment of tax withholdings for restricted share awards     (1,350) (2,100)
Net cash used in financing activities     (38,478) (4,299)
Net decrease in cash, cash equivalents and restricted cash     (2,411) (187,449)
Cash, cash equivalents and restricted cash at beginning of period     9,852 234,220
Cash, cash equivalents and restricted cash at end of period 7,441 46,771 7,441 46,771
Supplemental disclosure of cash flow information:        
Cash paid for interest, net of amounts capitalized     10,495 9,597
Change in accrued capital improvements and development costs     3,395 1,209
Dividend payable 15,834 14,916 15,834 14,916
Mortgage notes payable assumed in connection with the acquisition of real estate     0 76,554
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 5,554 44,787 5,554 44,787
Restricted cash 1,887 1,984 1,887 1,984
Cash, cash equivalents and restricted cash $ 7,441 $ 46,771 $ 7,441 $ 46,771

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