CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2022 |
Jun. 30, 2021 |
| Cash Flow From Operating Activities: |
|
|
| Net Income |
$ 17,260
|
$ 857
|
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |
|
|
| Depreciation and Amortization |
11,366
|
6,606
|
| Amortization of Intangible Lease Assets and Liabilities to Lease Income |
(170)
|
(91)
|
| Amortization of Deferred Financing Costs to Interest Expense |
257
|
149
|
| Gain on Disposition of Assets |
(15,637)
|
|
| Non-Cash Compensation |
157
|
152
|
| Decrease (Increase) in Assets: |
|
|
| Straight-Line Rent Adjustment |
(528)
|
(264)
|
| COVID-19 Rent Repayments |
45
|
385
|
| Other Assets |
278
|
46
|
| Increase (Decrease) in Liabilities: |
|
|
| Accounts Payable, Accrued Expenses, and Other Liabilities |
595
|
906
|
| Prepaid Rent and Deferred Revenue |
(371)
|
120
|
| Net Cash Provided By Operating Activities |
13,252
|
8,866
|
| Cash Flow From Investing Activities: |
|
|
| Acquisition of Real Estate, Including Capitalized Expenditures |
(110,062)
|
(65,930)
|
| Proceeds from Disposition of Assets |
71,446
|
|
| Net Cash Used In Investing Activities |
(38,616)
|
(65,930)
|
| Cash Flow from Financing Activities: |
|
|
| Proceeds from Long-Term Debt |
162,500
|
85,621
|
| Payments on Long-Term Debt |
(129,000)
|
(80,809)
|
| Cash Paid for Loan Fees |
(434)
|
(838)
|
| Proceeds From Stock Issuance, Net |
7,647
|
64,999
|
| Dividends Paid |
(7,288)
|
(5,319)
|
| Net Cash Provided By Financing Activities |
33,425
|
63,654
|
| Net Decrease in Cash and Cash Equivalents |
8,061
|
6,590
|
| Cash and Cash Equivalents, Beginning of Period |
9,497
|
1,894
|
| Cash and Cash Equivalents, End of Period |
17,558
|
8,484
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Cash Paid for Interest |
3,352
|
1,105
|
| Supplemental Disclosure of Non-Cash Investing and Financing Activities: |
|
|
| Unrealized Gain on Cash Flow Hedge |
9,077
|
661
|
| Right-of-Use Assets and Operating Lease Liability |
$ 1,831
|
|
| Operating Units Issued in Exchange for Real Estate |
|
8,010
|
| Underwriting Discounts on Capital Raised Through Issuance of Common Stock |
|
2,866
|
| Assumption of Mortgage Note Payable |
|
$ 30,000
|
| Derivative, Gain (Loss), Statement of Income or Comprehensive Income |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent
|
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent
|