Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
May 31, 2016 |
May 31, 2015 |
| Operating activities: |
|
|
| Net loss |
$ (714)
|
$ (942)
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
4,314
|
3,704
|
| Loss (gain) on sales of properties |
278
|
(749)
|
| Deferred income taxes |
(181)
|
(537)
|
| Gain on sale of assets |
(122)
|
|
| Stock-based compensation expense |
114
|
162
|
| Amortization of debt issuance costs |
102
|
126
|
| Accretion of discount on note receivable |
|
(49)
|
| Changes in assets and liabilities: |
|
|
| Other assets |
348
|
1,172
|
| Accounts payable and accrued liabilities |
(116)
|
43
|
| Deferred revenue |
(1,233)
|
4,485
|
| Other liabilities |
73
|
379
|
| Net cash provided by operating activities |
2,863
|
7,794
|
| Investing activities: |
|
|
| Additions to real estate assets |
(8,393)
|
(14,080)
|
| Deferred leasing costs and other |
(550)
|
(669)
|
| Net cash used in investing activities |
(8,943)
|
(14,749)
|
| Financing activities: |
|
|
| Proceeds from debt |
18,800
|
10,891
|
| Payments of debt |
(8,699)
|
(1,094)
|
| Dividends paid to stockholders |
(1,546)
|
(1,030)
|
| Mortgage proceeds held in escrow |
600
|
|
| Debt issuance costs |
(225)
|
(174)
|
| Exercise of stock options |
|
80
|
| Net cash provided by financing activities |
8,930
|
8,673
|
| Net increase in cash and cash equivalents |
2,850
|
1,718
|
| Cash and cash equivalents at beginning of period |
18,271
|
17,059
|
| Cash and cash equivalents at end of period |
$ 21,121
|
$ 18,777
|