Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net income $ 27,635 $ 15,763
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,424 29,105
Amortization of debt issuance costs 806 754
Amortization of debt discount and premium, net (177) (356)
Mark-to-market changes in value on equity securities 0 142
Equity-based compensation expense 1,286 774
Equity in (earnings) losses of unconsolidated real estate ventures (759) 340
Distributions from unconsolidated real estate ventures 4,015 3,325
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets 686 (118)
Accounts payable and accrued liabilities (3,037) 1,086
Deferred revenue 1,191 (130)
Net Cash Provided by Operating Activities 64,070 50,685
INVESTING ACTIVITIES    
Acquisition of self storage properties (141,175) (209,981)
Capital expenditures (5,685) (4,909)
Investments in and advances to unconsolidated real estate ventures 0 (3,125)
Deposits and advances for self storage property and other acquisitions (2,530) (500)
Proceeds from sale of equity securities 0 7,560
Expenditures for corporate furniture, equipment and other (10) (157)
Net Cash Used In Investing Activities (149,400) (211,112)
FINANCING ACTIVITIES    
Proceeds from issuance of common shares 122,412 4,249
Borrowings under debt financings 180,000 244,000
Contributions from noncontrolling interests 103 0
Principal payments under debt financings (164,564) (46,579)
Payment of dividends to common shareholders (25,014) (19,747)
Distributions to preferred shareholders (3,275) (3,273)
Distributions to noncontrolling interests (20,730) (19,813)
Debt issuance costs (332) 0
Equity offering costs (2,161) 0
Net Cash Provided By Financing Activities 86,439 158,837
Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 1,109 (1,590)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 21,701 24,276
End of period 22,810 22,686
Supplemental Cash Flow and Noncash Information    
Cash paid for interest 18,359 16,502
Redemptions and conversions of partnership interests 0 33,583
Issuance of common shares for management platform $ 0 $ 10,301