| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 | Dec'15 | Sep'15 | Jun'15 | Mar'15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||||||||||
Net income | ||||||||||||||||||||
19,325 | 20,662 | -10,054 | 19,698 | 16,053 | 15,539 | 14,510 | 13,267 | 14,607 | 2,252 | 11,311 | 2,030 | 10,281 | 8,388 | 7,832 | 7,631 | 5,502 | 5,003 | 727 | 2,266 | 2,038 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||||||
Depreciation and amortization (including below-market ground leases) | ||||||||||||||||||||
13,175 | 13,077 | 13,435 | 13,448 | 11,906 | 11,543 | 11,355 | 11,303 | 11,582 | 11,008 | 9,749 | 9,339 | 9,080 | 8,536 | 8,253 | 7,898 | 7,293 | 7,040 | 5,815 | 5,679 | 5,599 |
Amortization of deferred financing costs | ||||||||||||||||||||
487 | 487 | 488 | 487 | 541 | 485 | 484 | 485 | 484 | 485 | 484 | 570 | 561 | 561 | 561 | 561 | 556 | 551 | 547 | 555 | 547 |
Write-off of deferred financing costs | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 326 | - | 1,208 | 0 | 0 |
Amortization of stock-based compensation | ||||||||||||||||||||
884 | 982 | 981 | 1,147 | 994 | 1,032 | 988 | 924 | 904 | 624 | 656 | 600 | 536 | 339 | 339 | 437 | 431 | 427 | 435 | 294 | 366 |
Straight-line rental income | ||||||||||||||||||||
26 | -98 | 546 | 474 | 463 | 702 | 698 | 342 | 591 | 227 | 2 | 43 | 72 | 122 | 78 | 0 | 0 | - | - | - | - |
Noncash interest income | ||||||||||||||||||||
0 | 766 | 10 | 11 | 10 | 10 | 11 | 111 | 106 | 190 | 176 | 165 | 155 | 150 | 72 | 261 | 254 | 248 | 242 | 232 | 223 |
Loss on sale of real estate | ||||||||||||||||||||
-56 | 1,560 | 217 | 0 | 0 | 0 | 0 | 0 | 2,051 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Interest income distribution from other real estate investment | ||||||||||||||||||||
1,346 | 0 | 0 | 463 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Change in operating assets and liabilities: | ||||||||||||||||||||
Accounts and other receivables, net | ||||||||||||||||||||
-335 | 240 | 3,952 | 871 | 1,220 | -1,699 | 2,662 | 2,682 | 155 | 2,480 | 3,534 | 1,450 | 1,964 | 158 | 1,503 | 1,858 | -115 | -619 | 925 | 1,978 | 42 |
Accounts receivable due from related party | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | -1,953 | -322 |
Prepaid expenses and other assets | ||||||||||||||||||||
-454 | 147 | 163 | 69 | 116 | 111 | -303 | 426 | 36 | 91 | -129 | 324 | -13 | -81 | -294 | 303 | -12 | -4 | -455 | 595 | -50 |
Accounts payable and accrued liabilities | ||||||||||||||||||||
482 | -1,152 | 3,612 | -2,154 | 2,389 | -2,508 | 6,005 | -2,361 | -2,579 | 72 | 3,415 | -95 | 1,886 | -2,872 | 5,774 | -986 | 1,013 | -2,177 | 5,429 | -3,411 | 2,398 |
Net cash provided by operating activities | ||||||||||||||||||||
36,518 | 31,137 | 33,420 | 31,664 | 30,074 | 26,967 | 30,274 | 20,057 | 22,059 | 21,867 | 22,032 | 24,735 | 20,166 | 14,918 | 21,400 | 13,119 | 14,994 | 11,219 | 13,449 | 4,531 | 11,055 |
Cash flows from investing activities: | ||||||||||||||||||||
Acquisitions of real estate, net of deposits applied | ||||||||||||||||||||
25,905 | - | - | - | 52,697 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Payments to Acquire Real Estate | ||||||||||||||||||||
- | - | - | - | - | - | 28,311 | 207 | 47,103 | - | 125,822 | 42,073 | 54,568 | 95,944 | 41,135 | 76,149 | 68,000 | 965 | 197,855 | 16,147 | 17,499 |
Improvements to real estate | ||||||||||||||||||||
2,345 | 2,122 | 1,162 | -384 | 452 | 1,829 | 4,895 | 495 | 11 | 127 | 23 | 509 | 89 | 504 | 88 | 143 | 27 | 44 | 0 | 69 | 74 |
Purchases of equipment, furniture and fixtures | ||||||||||||||||||||
73 | - | - | - | 1,806 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Purchases of equipment, furniture and fixtures | ||||||||||||||||||||
- | - | - | - | - | 520 | 560 | 675 | 27 | 44 | 126 | 116 | 117 | 12 | 50 | 72 | 17 | 20 | 29 | 164 | 63 |
Investment in real estate mortgage and other loans receivable | ||||||||||||||||||||
100 | 3,547 | 3,310 | 0 | 11,389 | 3,050 | 1,208 | 1,390 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Principal payments received on real estate mortgage and other loans receivable | ||||||||||||||||||||
662 | 12,324 | 11,477 | 71 | 411 | 2,334 | 835 | 35 | 23 | 25 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Repayment of other real estate investment | ||||||||||||||||||||
2,327 | 0 | 0 | 2,204 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Escrow deposits for potential acquisitions of real estate | ||||||||||||||||||||
1,000 | -22,920 | 22,920 | -375 | 375 | 4,000 | -1,250 | 1,250 | 1,000 | -1,000 | -3,335 | 3,635 | 700 | -300 | 1,000 | -15,730 | 15,730 | 1,750 | -1,500 | 1,000 | 500 |
Net proceeds from sales of real estate | ||||||||||||||||||||
2,134 | 3,281 | 87 | 0 | 131 | 0 | 0 | 0 | 13,004 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Net cash used in investing activities | ||||||||||||||||||||
-24,300 | 9,944 | -28,752 | -231,022 | -66,177 | -43,084 | -32,889 | -3,982 | -35,114 | -85,616 | -122,636 | -38,833 | -55,474 | -93,430 | -46,804 | -60,634 | -83,774 | -2,779 | -196,354 | -17,380 | -18,136 |
Cash flows from financing activities: | ||||||||||||||||||||
Proceeds from (costs paid for) the issuance of common stock, net | ||||||||||||||||||||
90 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from (costs paid for) the issuance of common stock, net | ||||||||||||||||||||
- | -39 | -78 | 148,781 | 47,260 | 49,336 | 82,999 | 47,557 | -10 | -91 | -71 | 62,319 | 108,166 | 92,007 | 2,506 | -137 | 106,026 | -503 | 163,466 | 0 | 0 |
Proceeds from the issuance of senior unsecured notes payable | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | -100,000 | 100,000 | 0 | 0 | 0 | 0 |
Proceeds from the issuance of senior unsecured term loan | ||||||||||||||||||||
0 | 0 | 0 | 0 | 200,000 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Borrowings under unsecured revolving credit facility | ||||||||||||||||||||
15,000 | 8,000 | 40,000 | 10,000 | 185,000 | 5,000 | 0 | 0 | 60,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Payments on unsecured revolving credit facility | ||||||||||||||||||||
0 | 13,000 | 20,000 | 150,000 | 95,000 | 0 | 60,000 | 50,000 | 25,000 | 10,000 | 0 | 45,000 | 113,000 | - | - | - | - | - | - | - | - |
Borrowings under unsecured revolving credit facility | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | 95,000 | 18,000 | 45,000 | 105,000 | 35,000 | 63,000 | 52,000 | 0 | 45,000 | 0 | 0 |
Payments on senior unsecured term loan | ||||||||||||||||||||
0 | 0 | 0 | 0 | 100,000 | 0 | 0 | 0 | 0 | - | - | - | - | 0 | 0 | -92,000 | 92,000 | 0 | 0 | 0 | 0 |
Payments on the mortgage notes payable | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 95,022 | 674 | 1,158 | 666 | 685 |
Payments of deferred financing costs | ||||||||||||||||||||
0 | 0 | 0 | 144 | 4,390 | 0 | 0 | 0 | 0 | - | - | - | - | 0 | 20 | 8 | 1,324 | 190 | 1,974 | 125 | 14 |
Net-settle adjustment on restricted stock | ||||||||||||||||||||
1,986 | 0 | 0 | 1,029 | 1,495 | 0 | 0 | 683 | 605 | 0 | 0 | 866 | 0 | - | - | - | - | - | - | - | - |
Dividends paid on common stock | ||||||||||||||||||||
21,532 | 21,464 | 21,470 | 19,975 | 17,710 | 17,172 | 16,199 | 15,584 | 14,044 | 14,043 | 14,047 | 13,422 | 11,075 | 9,873 | 9,848 | 9,844 | 7,704 | 7,704 | 5,090 | 5,050 | 3,946 |
Net contribution from (distribution to) Ensign | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 |
Net cash (used in) provided by financing activities | ||||||||||||||||||||
-8,608 | -26,503 | -1,548 | -12,367 | 213,665 | 37,164 | 6,800 | -18,710 | 20,341 | 55,850 | 80,346 | 47,881 | 29,091 | 74,134 | 27,638 | 52,496 | 61,976 | -9,071 | 165,099 | 29,159 | -4,645 |
Net increase in cash and cash equivalents | ||||||||||||||||||||
3,610 | 14,578 | 3,120 | -211,725 | 177,562 | 21,047 | 4,185 | -2,635 | 7,286 | -7,899 | -20,258 | 33,783 | -6,217 | -4,378 | 2,234 | 4,981 | -6,804 | -631 | -17,806 | 16,310 | -11,726 |
Supplemental disclosures of cash flow information: | ||||||||||||||||||||
Interest paid | ||||||||||||||||||||
2,289 | 10,357 | 2,685 | 10,721 | 2,242 | 10,169 | 2,361 | 10,736 | 2,675 | 10,270 | 8,764 | 9,072 | 1,513 | 9,065 | 1,382 | 8,688 | 2,103 | 9,349 | 1,538 | 9,263 | 1,537 |
Increase in dividends payable | ||||||||||||||||||||
2,399 | 36 | 30 | 1,531 | 2,303 | 537 | 997 | 641 | 1,564 | -1 | -2 | 626 | 2,347 | 1,202 | 26 | 2 | 2,141 | 0 | 2,614 | 40 | 1,104 |
Increased in deferred financing costs payable | ||||||||||||||||||||
0 | - | - | - | 144 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Increase in offering costs payable | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -73 | 291 | - | 503 | 0 | 0 |
Application of escrow deposit to acquisition real estate | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 700 | 0 | 0 | 0 | 1,250 | 0 | 0 | 0 | 500 |
Transfer of pre-acquisition costs to acquired assets | ||||||||||||||||||||
167 | 0 | 0 | 242 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Sale of real estate settled with note receivable | ||||||||||||||||||||
32,400 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |