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, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net income $ 15,763 $ 12,940
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 29,105 24,349
Amortization of debt issuance costs 754 693
Amortization of debt discount and premium, net (356) (352)
Mark-to-market changes in value on equity securities 142 0
Equity-based compensation expense 774 1,112
Equity in losses of unconsolidated real estate ventures 340 2,102
Distributions from unconsolidated real estate ventures 3,325 3,400
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets (118) 2,008
Accounts payable and accrued liabilities 1,086 607
Deferred revenue (130) (461)
Net Cash Provided by Operating Activities 50,685 46,398
INVESTING ACTIVITIES    
Acquisition of self storage properties (209,981) (139,579)
Capital expenditures (4,909) (4,208)
Investments in and advances to unconsolidated real estate ventures (3,125) 0
Distributions from unconsolidated real estate ventures 0 1,017
Deposits and advances for self storage property and other acquisitions (500) (811)
Proceeds from sale of equity securities 7,560 0
Expenditures for corporate furniture, equipment and other (157) (125)
Net Cash Used In Investing Activities (211,112) (143,706)
FINANCING ACTIVITIES    
Proceeds from issuance of common shares 4,249 0
Borrowings under debt financings 244,000 188,500
Receipts for OP unit subscriptions 0 318
Principal payments under debt financings (46,579) (51,778)
Payment of dividends to common shareholders (19,747) (17,010)
Distributions to preferred shareholders (3,273) (2,588)
Distributions to noncontrolling interests (19,813) (17,002)
Debt issuance costs 0 (22)
Equity offering costs 0 (50)
Net Cash Provided By Financing Activities 158,837 100,368
(Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (1,590) 3,060
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 24,276 16,363
End of period 22,686 19,423
Supplemental Cash Flow Information [Abstract]    
Cash paid for interest 16,502 12,142
Operating lease right-of-use assets on balance sheet due to implementation of leases standard 23,798 23,110
Operating lease liabilities on balance sheet due to implementation of leases standard 25,243 24,166
Redemptions and conversions of partnership interests 33,583 0
Issuance of common shares for management platform $ 10,301 $ 0