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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
INCOME:    
Rental and Related Income $ 11,642,186 $ 8,760,043
Sales of Manufactured Homes 1,784,109 2,130,903
Total Income 13,426,295 10,890,946
EXPENSES:    
Community Operating Expenses 5,947,365 4,794,270
Cost of Sales of Manufactured Homes 1,522,532 1,972,326
Selling Expenses 508,902 431,063
General and Administrative Expenses 1,215,236 1,221,094
Franchise Taxes 66,000 33,000
Acquisition Costs 591,068 82,657
Depreciation Expense 2,389,854 1,609,291
Total Expenses 12,240,957 10,143,701
OTHER INCOME (EXPENSE):    
Interest Income 538,132 477,949
Dividend Income 850,793 776,866
Gain on Securities Transactions, net 3,310,028 1,212,712
Other Income 29,080 19,404
Interest Expense (1,679,809) (1,431,698)
Amortization of Financing Costs (71,190) (65,913)
Total Other Income 2,977,034 989,320
Income before (Loss) Gain on Sales of Investment Property and Equipment 4,162,372 1,736,565
(Loss) Gain on Sales of Investment Property and Equipment (12,861) 13,132
Net Income 4,149,511 1,749,697
Less: Preferred Dividend 1,889,147 690,319
Net Income Attributable to Common Shareholders $ 2,260,364 $ 1,059,378
Basic Income Per Share:    
Net income $ 0.24 $ 0.11
Less: Preferred Dividend $ 0.11 $ 0.04
Net Income Attributable to Common Shareholders $ 0.13 $ 0.07
Diluted Income Per Share:    
Net income $ 0.24 $ 0.11
Less: Preferred Dividend $ 0.11 $ 0.04
Net Income Attributable to Common Shareholders $ 0.13 $ 0.07
Weighted Average Common Shares Outstanding:    
Basic 17,441,001 15,495,431
Diluted 17,501,510 15,553,723