v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (6,781) $ (6,924)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 24,291 24,350
Amortization/write-off of deferred financing costs and debt prepayment penalties 1,683 1,516
Change in fair value on derivative instruments included in interest expense (5,640) (7,806)
Net cash received on derivative settlements 5,690 9,781
Amortization/write-off of fair market value adjustment of assumed debt (26) (26)
Provision for bad debts, net 328 492
Vesting of stock-based compensation 2,362 2,475
Insurance proceeds received for business interruption 169 50
Equity in earnings of affiliate (68) (55)
Casualty gain (125) (892)
Changes in operating assets and liabilities, net of effects of sales and acquisitions:    
Accounts receivable (220) (203)
Prepaid and other assets (2) 2,134
Operating liabilities (279) 294
Real estate taxes payable 1,952 3,136
Net cash provided by operating activities 23,334 28,322
Cash flows from investing activities    
Additions to real estate investments (7,607) (8,878)
Net cash used in investing activities (7,607) (8,878)
Cash flows from financing activities    
Mortgage proceeds received 39,683  
Credit facilities payments (33,000)  
Deferred financing costs paid (159)  
Interest rate cap fees paid (30)  
Cash settlement of stock-based compensation (33) (513)
Dividends paid to common stockholders (14,530) (14,028)
Distributions to redeemable noncontrolling interests in the OP (55)  
Net cash used in financing activities (8,124) (14,541)
Net increase in cash, cash equivalents and restricted cash 7,603 4,903
Cash, cash equivalents and restricted cash, beginning of period 45,180 53,917
Cash, cash equivalents and restricted cash, end of period 52,783 58,820
Supplemental Disclosure of Cash Flow Information    
Interest paid 19,777 21,161
Supplemental Disclosure of Noncash Activities    
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP 107 44
Capitalized construction costs included in accounts payable and other accrued liabilities 2,819 1,682
Change in fair value on derivative instruments designated as hedges (3,737) (10,172)
Decrease in dividends payable upon vesting of restricted stock units $ (736) (776)
Increase in distributions payable to noncontrolling interests   $ 52