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, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 12,940 $ 11,973
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,349 21,368
Amortization of debt issuance costs 693 590
Amortization of debt discount and premium, net (352) (373)
Gain on sale of self storage properties 0 (474)
Equity-based compensation expense 1,112 867
Equity in losses of unconsolidated real estate ventures 2,102 52
Distributions from unconsolidated real estate ventures 3,400 1,339
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets 2,008 (854)
Accounts payable and accrued liabilities 607 (808)
Deferred revenue (461) 179
Net Cash Provided by Operating Activities 46,398 33,859
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of self storage properties (139,579) (100,450)
Capital expenditures (4,208) (3,901)
Investments in and advances to unconsolidated real estate ventures 0 (2,390)
Distributions from unconsolidated real estate ventures 1,017 0
Deposits and advances for self storage property and other acquisitions 811 342
Expenditures for corporate furniture, equipment and other (125) (51)
Proceeds from sale of self storage properties 0 2,029
Net Cash Used In Investing Activities (143,706) (105,105)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings under debt financings 188,500 250,000
Receipts for OP unit subscriptions 318 312
Principal payments under debt financings (51,778) (145,212)
Payment of dividends to common shareholders (17,010) (14,099)
Distributions to preferred shareholders (2,588) (2,588)
Distributions to noncontrolling interests (17,002) (14,369)
Debt issuance costs (22) (796)
Equity offering costs (50) (218)
Net Cash Provided By Financing Activities 100,368 73,030
Increase in Cash, Cash Equivalents and Restricted Cash 3,060 1,784
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 16,363 16,407
End of period 19,423 18,191
Supplemental Cash Flow Information    
Cash paid for interest 12,142 $ 8,939
Operating lease right-of-use assets added upon implementation of leases standard 23,110  
Operating lease liabilities added upon implementation of leases standard $ 24,166