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Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INCOME:        
Rental and Related Income $ 35,051 $ 31,388 $ 69,409 $ 62,032
Sales of Manufactured Homes 5,033 5,842 8,248 9,485
Total Income 40,084 37,230 77,657 71,517
EXPENSES:        
Community Operating Expenses 15,438 14,970 30,946 30,114
Cost of Sales of Manufactured Homes 3,617 4,257 6,018 6,846
Selling Expenses 1,279 1,337 2,376 2,428
General and Administrative Expenses 2,742 3,156 5,328 5,331
Depreciation Expense 10,272 8,869 20,499 17,620
Total Expenses 33,348 32,589 65,167 62,339
OTHER INCOME (EXPENSE):        
Interest Income 691 622 1,408 1,137
Dividend Income 1,555 1,939 3,298 3,876
Increase (Decrease) in Fair Value of Marketable Securities 13,411 (2,352) (25,182) 6,244
Other Income 166 133 329 253
Interest Expense (4,195) (4,246) (8,620) (8,893)
Total Other Income (Expense) 11,628 (3,904) (28,767) 2,617
Income (Loss) before Gain (Loss) on Sales of Investment Property and Equipment 18,364 737 (16,277) 11,795
Gain (Loss) on Sales of Investment Property and Equipment (39) 12 (146) (9)
Net Income (Loss) 18,325 749 (16,423) 11,786
Less: Preferred Dividends (8,090) (6,286) (16,180) (11,409)
Net Income (Loss) Attributable to Common Shareholders $ 10,235 $ (5,537) $ (32,603) $ 377
Basic Income (Loss) Per Share:        
Net Income (Loss) $ 0.44 $ 0.01 $ (0.40) $ 0.31
Less: Preferred Dividends 0.19 0.16 0.39 0.29
Net Income (Loss) Attributable to Common Shareholders 0.25 (0.15) (0.79) 0.02
Diluted Income (Loss) Per Share:        
Net Income (Loss) 0.44 0.01 (0.40) 0.30
Less: Preferred Dividends 0.19 0.16 0.39 0.29
Net Income (Loss) Attributable to Common Shareholders $ 0.25 $ (0.15) $ (0.79) $ 0.01
Weighted Average Common Shares Outstanding:        
Basic 41,210,000 39,649,000 41,195,000 39,145,000
Diluted 41,526,000 39,649,000 41,195,000 39,390,000