v3.24.2.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash Flows from Operating Activities:          
Net Income $ 6,918 $ 5,898 $ 13,912 $ 11,868  
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:          
Stock-Based Compensation     774 681  
Depreciation and Amortization Expense     7,194 7,130  
Amortization of Debt Issuance Costs     134 137  
Amortization of Debt Discount     0 7  
Provision for Credit Loss (12) 0 (26) 0  
Non-Cash Lease Expense     (1) 0  
Non-Cash Application of Rent Escrow     (274) 0  
Non-Cash Application of Security Deposit     0 (630)  
Changes in Assets and Liabilities          
Other Assets     221 373  
Accounts Payable and Accrued Expenses     (339) (234)  
Security Deposits     447 317  
Rent Received in Advance     (206) (677)  
Other Liabilities     (77) (758)  
Net Cash Provided by Operating Activities     21,759 18,214  
Cash Flows from Investing Activities:          
Funding of Building and Tenant Improvements     (11,371) (2,996) $ (14,434)
Acquisition of Real Estate     (3,993) (350)  
Net Cash Used in Investing Activities     (15,364) (3,346)  
Cash Flows from Financing Activities:          
Repurchase of Common Stock     0 (1,334)  
Cash Paid for Taxes in Lieu of Issuance of Common Stock     (46) 0  
Common Stock Dividends Paid     (16,610) (16,679)  
Restricted Stock Unit Dividends Paid     (114) (51)  
Distributions to OP Unitholders     (303) (291)  
Borrowings from Revolving Credit Facility     6,600 0  
Principal Repayment on Loan Payable     (1,000) (1,000)  
Deferred Financing Costs     0 (31)  
Deferred Offering Costs     (78) 0  
Net Cash Used in Financing Activities     (11,551) (19,386)  
Net (Decrease) in Cash and Cash Equivalents     (5,156) (4,518)  
Cash and Cash Equivalents - Beginning of Period     25,843 45,192 45,192
Cash and Cash Equivalents - End of Period 20,687 40,674 20,687 40,674 25,843
Supplemental Disclosure of Cash Flow Information:          
Interest Paid     99 109  
Supplemental Disclosure of Non-Cash Investing and Financing Activities:          
Dividends and Distributions Declared, Not Paid 9,009 8,468 9,009 8,468 $ 8,385
Accrual for Deferred Offering Costs $ 143 $ 0 $ 143 $ 0  

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