v3.23.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash Flows from Operating Activities:          
Net Income $ 5,898 $ 3,790 $ 11,868 $ 8,925  
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:          
Stock-Based Compensation     681 921  
Loss on Sale of Real Estate 0 0 0 60  
Depreciation and Amortization Expense     7,130 5,483  
Amortization of Debt Issuance Costs     137 20  
Amortization of Debt Discount     7 12  
Non-Cash Application of Security Deposit     (630) 0  
Changes in Assets and Liabilities          
Other Assets     373 (458)  
Accounts Payable and Accrued Expenses     (234) 1,316  
Security Deposits     317 1,088  
Interest Reserve     0 (1,838)  
Rent Received in Advance     (677) 199  
Other Liabilities     (758) 0  
Net Cash Provided by Operating Activities     18,214 15,728  
Cash Flows from Investing Activities:          
Reimbursements of Tenant Improvements     (2,996) (38,792) $ (45,245)
Investment in Loans Receivable     0 (5,000)  
Acquisition of Real Estate     (350) (35,421)  
Disposition of Real Estate     0 761  
Net Cash Used in Investing Activities     (3,346) (78,452)  
Cash Flows from Financing Activities:          
Repurchase of Common Stock     (1,334) 0  
Common Stock Dividends Paid     (16,679) (13,612)  
Restricted Stock Units Dividend Equivalents Paid     (51) (89)  
Distributions to OP Unit Holders     (291) (270)  
Borrowings from Revolving Credit Facility     0 1,000  
Principal Repayment on Loan Payable     (1,000) (1,800)  
Deferred Financing Costs     (31) 0  
Net Cash Used in Financing Activities     (19,386) (14,771)  
Net (Decrease) in Cash and Cash Equivalents     (4,518) (77,495)  
Cash and Cash Equivalents - Beginning of Period     45,192 127,097 127,097
Cash and Cash Equivalents - End of Period 40,674 49,602 40,674 49,602 45,192
Supplemental Disclosure of Cash Flow Information:          
Interest Paid     109 5  
Supplemental Disclosure of Non-Cash Investing and Financing Activities:          
Dividends and Distributions Declared, Not Paid $ 8,468 $ 7,650 8,468 7,650 $ 8,512
Operating Lease Liability for Obtaining Right-Of-Use Asset     $ 0 $ 271  

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