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, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 11,973 $ 7,181
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,368 18,683
Amortization of debt issuance costs 590 516
Amortization of debt discount and premium, net (373) (399)
Gain on sale of self storage properties (474) 0
Equity-based compensation expense 867 983
Equity in losses of unconsolidated real estate venture 52 785
Distributions from unconsolidated real estate venture 1,339 1,251
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets (854) (665)
Accounts payable and accrued liabilities (808) (102)
Deferred revenue 179 (28)
Net Cash Provided by Operating Activities 33,859 28,205
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of self storage properties (100,450) (26,363)
Capital expenditures (3,901) (3,154)
Investments in and advances to unconsolidated real estate venture (2,390) 0
Deposits and advances for self storage property and other acquisitions (342) (138)
Expenditures for corporate furniture, equipment and other (51) (40)
Proceeds from sale of self storage properties 2,029 5,091
Net Cash Used In Investing Activities (105,105) (24,604)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of subordinated performance units 0 7,000
Borrowings under debt financings 250,000 222,000
Receipts for OP unit subscriptions 312 6
Principal payments under debt financings (145,212) (205,757)
Payment of dividends to common shareholders (14,099) (10,564)
Distributions to preferred shareholders (2,588) 0
Distributions to noncontrolling interests (14,369) (12,942)
Debt issuance costs (796) (1,315)
Equity offering costs (218) (116)
Net Cash Provided By (Used In) Financing Activities 73,030 (1,688)
Increase in Cash, Cash Equivalents and Restricted Cash 1,784 1,913
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 16,407 15,337
End of period 18,191 17,250
Supplemental Cash Flow Information    
Cash paid for interest $ 8,939 $ 7,131