v3.24.1.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash Flows from Operating Activities:      
Net Income $ 6,994 $ 5,970  
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Stock-Based Compensation 350 308  
Depreciation and Amortization Expense 3,568 3,557  
Amortization of Debt Issuance Costs 67 64  
Amortization of Debt Discount 0 3  
Provision for Credit Loss (14) 0  
Non-Cash Lease Expense (1) 0  
Non-Cash Application of Rent Escrow (274) 0  
Changes in Assets and Liabilities      
Other Assets 151 259  
Accounts Payable and Accrued Expenses (420) (383)  
Security Deposits 0 (305)  
Rent Received in Advance (322) (724)  
Other Liabilities (57) (512)  
Net Cash Provided by Operating Activities 10,042 8,237  
Cash Flows from Investing Activities:      
Funding of Tenant Improvements (7,894) (1,402) $ (14,434)
Acquisition of Real Estate 0 (350)  
Net Cash Used in Investing Activities (7,894) (1,752)  
Cash Flows from Financing Activities:      
Repurchase of Common Stock 0 (622)  
Cash Paid for Taxes in Lieu of Issuance of Common Stock (46) 0  
Common Stock Dividends Paid (8,201) (8,349)  
Restricted Stock Unit Dividends Paid (49) (17)  
Distributions to OP Unit Holders (149) (146)  
Borrowings from Revolving Credit Facility 3,000 0  
Principal Repayment on Loan Payable (1,000) (1,000)  
Deferred Financing Costs 0 (45)  
Net Cash Used in Financing Activities (6,445) (10,179)  
Net (Decrease) in Cash and Cash Equivalents (4,297) (3,694)  
Cash and Cash Equivalents - Beginning of Period 25,843 45,192 45,192
Cash and Cash Equivalents - End of Period 21,546 41,498 25,843
Supplemental Disclosure of Cash Flow Information:      
Interest Paid 54 94  
Supplemental Disclosure of Non-Cash Investing and Financing Activities:      
Dividends and Distributions Declared, Not Paid $ 8,577 $ 8,483 $ 8,385

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