CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
9 Months Ended |
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
| Cash Flow from Operating Activities: |
|
|
|
|
| Net Income |
$ 1,056
|
$ 636
|
$ 1,913
|
$ 930
|
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |
|
|
|
|
| Depreciation and Amortization |
|
|
10,914
|
7,003
|
| Amortization of Intangible Lease Assets and Liabilities to Lease Income |
(77)
|
(30)
|
(168)
|
(78)
|
| Amortization of Deferred Financing Costs to Interest Expense |
87
|
45
|
236
|
133
|
| Gain on Disposition of Assets |
(544)
|
(287)
|
(544)
|
(287)
|
| Non-Cash Compensation |
|
|
231
|
201
|
| Decrease (Increase) in Assets: |
|
|
|
|
| Straight-Line Rent Adjustment |
|
|
(393)
|
(1,237)
|
| COVID-19 Rent Repayments |
|
|
408
|
(538)
|
| Other Assets |
|
|
(654)
|
(589)
|
| Increase (Decrease) in Liabilities: |
|
|
|
|
| Accounts Payable, Accrued Expenses, and Other Liabilities |
|
|
869
|
774
|
| Prepaid Rent and Deferred Revenue |
|
|
278
|
1,044
|
| Net Cash Provided By Operating Activities |
|
|
13,090
|
7,356
|
| Cash Flow from Investing Activities: |
|
|
|
|
| Acquisition of Real Estate, Including Capitalized Expenditures |
|
|
(120,961)
|
(100,736)
|
| Proceeds from Disposition of Assets |
|
|
3,653
|
4,933
|
| Net Cash Used In Investing Activities |
|
|
(117,308)
|
(95,803)
|
| Cash Flow from Financing Activities: |
|
|
|
|
| Proceeds from Long-Term Debt |
|
|
217,121
|
95,000
|
| Payments on Long-Term Debt |
|
|
(162,431)
|
(6,692)
|
| Cash Paid for Loan Fees |
|
|
(1,387)
|
(10)
|
| Repurchase of Common Stock |
|
|
|
(5,013)
|
| Proceeds From Stock Issuance, net |
|
|
64,961
|
|
| Dividends Paid |
|
|
(8,634)
|
(5,294)
|
| Net Cash Provided By Financing Activities |
|
|
109,630
|
77,991
|
| Net Increase (Decrease) in Cash and Cash Equivalents |
|
|
5,412
|
(10,456)
|
| Cash and Cash Equivalents, Beginning of Period |
|
|
1,894
|
12,342
|
| Cash and Cash Equivalents, End of Period |
7,306
|
1,886
|
7,306
|
1,886
|
| Reconciliation of Cash to the Consolidated Balance Sheets: |
|
|
|
|
| Cash and Cash Equivalents |
6,706
|
1,886
|
6,706
|
1,886
|
| Restricted Cash |
600
|
|
600
|
|
| Total Cash |
$ 7,306
|
$ 1,886
|
$ 7,306
|
$ 1,886
|