7Baggers
Quarterly
Annual
    Unit: USD2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 
      
    		                    
      cash flows from operating activities:
    		                    
      net income
    		21,675,000 75,391,000 22,711,000 24,907,000 21,312,000 20,309,000 14,780,000 16,956,000 15,319,000 14,211,000 12,562,000 17,396,000 11,168,000 5,481,000 5,942,000 11,137,000 4,362,000 2,070,000 1,761,000 3,743,000 
      adjustments to reconcile net income to cash flows from operating activities:
    		                    
      depreciation and amortization
    		2,398,000 2,407,000 2,406,000 2,402,000 2,402,000 2,390,000 2,385,000 2,385,000 2,369,000 2,362,000 2,354,000 2,348,000 2,348,000 2,345,000 2,343,000 2,343,000 2,306,000 2,290,000 2,276,000 2,270,000 
      stock-based compensation expense
    		28,000 53,000 1,183,000 282,000 176,000 175,000 1,215,000 184,000 189,000 189,000 1,220,000 146,000 132,000 132,000 1,219,000 99,000     
      deferred operating lease income
    		-7,864,000 -7,882,000 -7,898,000 -7,914,000 -7,938,000 -8,420,000 -8,674,000 -8,695,000 -8,722,000 -8,744,000 -8,759,000 -8,779,000 -8,805,000 -8,779,000 -8,781,000 -8,800,000     
      non-cash interest income from sales-type leases
    		-20,436,000 -19,896,000 -17,811,000 -15,848,000 -13,146,000 -11,185,000 -9,987,000 -9,490,000 -8,373,000 -7,596,000 -7,278,000 -6,884,000 -4,265,000 -1,366,000 -617,000 -299,000     
      non-cash interest expense
    		4,835,000 2,829,000 2,919,000 3,058,000 2,877,000 2,856,000 2,962,000 3,077,000 2,898,000            
      amortization of real estate-related intangibles
    		576,000 577,000 575,000 577,000 575,000 607,000 622,000 620,000 645,000 673,000 663,000 667,000 666,000 627,000 608,000 608,000 809,000 692,000 548,000 469,000 
      loss on early extinguishment of debt
    		    0 0 0 216,000     0        
      earnings from equity method investments
    		-2,283,000 -2,244,000 -2,252,000 -2,276,000  -2,244,000 -929,000 -839,000   -822,000 -818,000         
      distributions from operations of equity method investments
    		537,000 459,000 520,000 531,000 576,000 532,000 423,000 442,000 479,000 307,000 208,000 219,000         
      selling profit from sales-type leases
    		                    
      gain on sale of net investment in lease
    		                    
      amortization of premium, discount and deferred financing costs on debt obligations
    		1,345,000 1,363,000 1,356,000 1,320,000 1,154,000 1,021,000 941,000 655,000 604,000 580,000 570,000 527,000 603,000 570,000 566,000 518,000     
      non-cash management fees
    		5,302,000 5,284,000 5,209,000 4,457,000 4,271,000 3,598,000 3,524,000 3,472,000 3,402,000 3,234,000 3,190,000 2,858,000 2,490,000        
      other operating activities
    		1,191,000 990,000 1,216,000 1,280,000 1,282,000 1,281,000 1,010,000 896,000 605,000 532,000 532,000 532,000 521,000 437,000 386,000 242,000 18,000 1,000 35,000 -43,000 
      changes in assets and liabilities:
    		                    
      changes in deferred expenses and other assets
    		398,000 10,383,000 7,000 256,000 -385,000 -748,000 577,000 270,000 -138,000 -617,000 3,677,000 -3,065,000 -175,000 -246,000 4,004,000 -3,282,000 102,000 42,000 -540,000 -767,000 
      changes in accounts payable, accrued expenses and other liabilities
    		5,003,000 -8,421,000 11,925,000 11,567,000 3,081,000 3,519,000 -2,904,000 -15,005,000 1,490,000 -5,387,000 3,223,000 2,289,000 -1,744,000 -10,066,000 -3,828,000 -5,830,000 871,000 998,000 1,063,000 287,000 
      cash flows from operating activities
    		12,705,000 5,482,000 22,066,000 24,599,000 13,970,000 11,858,000 5,945,000 -4,856,000 9,935,000 7,000,000 11,340,000 7,436,000 2,583,000 -3,124,000 1,842,000 -3,264,000 2,712,000 2,260,000 3,600,000 4,956,000 
      cash flows from investing activities:
    		                    
      acquisitions of real estate
    		        -37,267,000 -336,000   0 -22,007,000 -3,570,000 -3,239,000 -177,814,000 -75,639,000 -43,588,000 -88,856,000 
      origination/acquisition of net investment in sales-type leases and ground lease receivables
    		-68,132,000 -302,993,000 -375,013,000 -532,268,000 -705,711,000 -331,689,000 -129,679,000 -80,901,000 -356,343,000 -34,316,000 -39,666,000 -43,758,000 -836,707,000        
      contributions to equity method investments
    		                    
      funding reserves received from ground lease tenant net of disbursements
    		                    
      net proceeds received from sale of net investment in lease
    		                    
      deposits on ground lease investments
    		0 0   25,534,000 -24,950,000 2,000,000 -4,667,000  -500,000 400,000 1,150,000  -27,497,000 -4,500,000 1,300,000  -3,900,000   
      other investing activities
    		-436,000 -751,000 1,053,000 -981,000 -365,000 275,000 1,024,000 593,000 1,425,000 257,000 -482,000 121,000 4,700,000 -4,150,000 393,000 -250,000 1,015,000 232,000 878,000 -733,000 
      cash flows used in investing activities
    		-98,343,000 -196,917,000 -415,508,000 -435,185,000 -680,693,000 -356,385,000 -165,938,000 -84,975,000 -345,904,000 -39,034,000 -84,347,000 -61,356,000 -909,200,000 -452,691,000 -38,310,000 -120,574,000 -167,756,000 -79,307,000 -47,853,000 -89,589,000 
      cash flows from financing activities:
    		                    
      proceeds from issuance of common stock
    		0 0 0 309,160,000 0 242,280,000 0 1,065,000 121,120,000 0 0 150,086,000 247,300,000        
      proceeds from debt obligations
    		60,000,000 310,000,000 520,000,000 940,000,000 951,931,000 360,000,000 496,508,000 40,000,000 275,000,000 9,370,000 105,800,000 303,800,000 747,750,000 217,364,000 166,625,000 52,000,000 248,353,000    
      repayments of debt obligations
    		0 -125,000,000 -160,000,000 -720,000,000 -280,000,000 -230,000,000   -60,000,000 0 -187,000,000 -130,000,000 -54,000,000 -71,000,000 -57,000,000 -169,500,000     
      payments for debt prepayment or extinguishment costs
    		            0        
      payments for deferred financing costs
    		-26,000 -76,000 -579,000 -4,455,000 -4,552,000 -578,000 -3,339,000 -5,594,000 -256,000 -388,000 -1,304,000 -4,836,000 -15,909,000 -928,000 -1,160,000 -471,000 -1,233,000 -737,000 -194,000 -125,000 
      dividends paid to common shareholders
    		-11,005,000 -10,982,000 -10,528,000 -9,672,000 -9,613,000 -9,064,000 -8,640,000 -8,630,000 -8,300,000 -8,290,000 -7,960,000 -7,452,000 -6,308,000 -4,825,000 -2,748,000 -2,741,000 -2,735,000 -2,735,000 -2,729,000 -2,728,000 
      payment of offering costs
    		0 -375,000 -84,000 -4,731,000 -320,000 -8,131,000 -41,000 -218,000 -2,837,000 0 -392,000 -1,527,000 -4,749,000    -401,000 -232,000   
      payments for withholding taxes upon vesting for stock-based compensation
    		                    
      distributions to noncontrolling interests
    		-8,516,000 -11,000 -11,000 -11,000 -13,000 -12,000 -11,000 -10,000 -11,000 -11,000 -10,000 -11,000 -12,000 -11,000 -1,883,000 -1,039,000  -6,000   
      contributions from noncontrolling interests
    		  0 18,000         0 0 0 250,000,000  0 0 1,750,000 
      other financing activities
    		0        0 0 3,198,000 -3,174,000         
      cash flows from financing activities
    		40,453,000 173,385,000 348,798,000 528,339,000 657,538,000 354,495,000 164,477,000 26,613,000 324,716,000 681,000 -87,668,000 306,886,000 916,611,000 399,124,000 105,472,000 123,888,000 169,464,000 60,290,000   
      changes in cash, cash equivalents and restricted cash
    		-45,185,000 -18,050,000 -44,644,000 117,753,000 -9,185,000 9,968,000 4,484,000 -63,218,000 -11,253,000 -31,353,000 -160,675,000 252,966,000 9,994,000 -56,691,000 69,004,000 50,000 4,420,000 -16,757,000 -47,372,000 -85,736,000 
      cash, cash equivalents and restricted cash at beginning of period
    		0 0 0 38,516,000 0 0 0 96,467,000 0 0 0 46,782,000 0 0 0 24,425,000 0 0 0 169,870,000 
      cash, cash equivalents and restricted cash at end of period
    		-45,185,000 -18,050,000 -44,644,000 156,269,000 -9,185,000 9,968,000 4,484,000 33,249,000 -11,253,000 -31,353,000 -160,675,000 299,748,000 9,994,000 -56,691,000 69,004,000 24,475,000 4,420,000 -16,757,000 -47,372,000 84,134,000 
      net proceeds from sale of net investment in lease
    		                    
      payments for withholding taxes upon vesting of stock-based compensation
    		                    
      contributions from redeemable noncontrolling interests
    		                    
      funding reserves received from ground lease tenant
    		                    
      (earnings) losses from equity method investments
    		        -832,000            
      ​
    		                    
      supplemental disclosure of non-cash investing and financing activity:
    		                    
      acquisition of real estate
    		        -226,000 -168,000           
      assumption of other liabilities/debt obligations
    		        -226,000 -168,000           
      dividends declared to common shareholders
    		       8,645,000 330,000 10,000 331,000 7,965,000 1,156,000 1,488,000 2,082,000 2,752,000 6,000 0 7,000 2,728,000 
      accrued finance costs
    		     -501,000 374,000 375,000 6,000 -303,000 23,000 282,000 97,000 51,000 286,000 224,000 52,000 72,000 -2,000 95,000 
      accrued offering costs
    		     -142,000 -165,000 716,000 32,000   197,000         
      supplemental disclosure of cash flow information:
    		                    
      cash paid for interest
    		                    
      origination of sales-type lease
    		                    
      investor unit conversion
    		            0 0       
      contribution from istar inc.
    		                   1,308,000 
      fundings on ground lease receivables
    		         -4,139,000 -24,323,000 -18,869,000         
      origination of sales-type leases
    		             0 0 10,194,000     
      assumption of debt obligations
    		            0 0 0 10,194,000     
      distribution declared to noncontrolling interest
    		               1,875,000     
      losses (earnings) from equity method investments
    		                    
      contributions to equity investments in ground leases
    		                    
      other financing
    		             -450,000 1,638,000 -3,600,000     
      offering costs
    		                    
      origination/acquisition of sales-type leases
    		              -30,633,000 -118,385,000     
      payment of costs for sale of noncontrolling interest
    		              0 -761,000     
      non-cash stock-based compensation expense
    		                95,000    
      deferred ground and other lease income
    		                -7,260,000 -5,179,000 -3,944,000 -2,658,000 
      income from sales of real estate
    		                    
      management fees and non-cash expense reimbursements to the manager
    		                921,000 919,000 1,273,000 1,308,000 
      changes in ground and other lease income receivable
    		                    
      proceeds from sales of real estate
    		                    
      net transactions with istar inc.
    		                    
      distributions to noncontrolling interest
    		                    
      contributions from noncontrolling interest
    		                    
      amortization of premium and deferred financing costs on debt obligations
    		                 414,000 363,000 347,000 
      non-cash expense for stock-based compensation
    		                    
      distribution payable to noncontrolling interests
    		                    
      cash flows used in financing activities
    		                   -1,103,000 
      changes in restricted cash held in connection with investing activities
    		                    
      changes in cash and cash equivalents
    		                    
      cash and cash equivalents at beginning of period
    		                    
      cash and cash equivalents at end of period
    		                    
      contribution from noncontrolling interest
    		                    
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.