v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net Income $ 5,134 $ 1,538
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Stock-Based Compensation 405 907
Loss on Sale of Real Estate 60 0
Depreciation and Amortization Expense 2,679 1,086
Non-cash financing expense 7 0
Changes in Assets and Liabilities, Net of Acquisition:    
Other Assets (121) 118
Accrued Expenses and Other Liabilities (685) (2,199)
Interest Reserve (919) 0
Rent Received in Advance (323) 477
Net Cash Provided by Operating Activities 6,237 1,927
Cash Flows from Investing Activities:    
Cash Acquired from Merger Transaction 0 64,355
Payment of Merger Related Transaction Costs 0 (2,144)
Escrow Deposit (7,300) 0
Reimbursements of Tenant Improvements (3,443) (2,284)
Disposition of Real Estate 761 0
Net Cash (Used in) Provided by Investing Activities (9,982) 59,927
Cash Flows from Financing Activities:    
Proceeds from Issuance of Common Stock, Net of Offering Costs 0 39,579
Common Stock Dividends Paid (6,593) (3,060)
Restricted Stock Units Dividend Equivalents Paid (42) (38)
Distributions to OP Unit Holders (129) (124)
Payment of Loan Payable (1,800) 0
Net Cash (Used in) Provided by Financing Activities (8,564) 36,357
Net Increase (Decrease) in Cash and Cash Equivalents (12,309) 98,211
Cash and Cash Equivalents - Beginning of Year 127,097 19,617
Cash and Cash Equivalents - End of Period 114,788 117,828
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Accrual for Dividends and Distributions Payable 7,200 3
Accrual for Reimbursements of Tenant Improvements 0 2,101
Real Estate Assets, In-Place Leases, Other Assets and Liabilities Acquired through the Issuance of Common Stock and Warrants $ 0 $ 103,318

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