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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 34,078 $ (18,190)
Non-Cash items included in Net Income (Loss):    
Depreciation 33,572 30,991
Amortization of Financing Costs 725 654
Stock Compensation Expense 2,259 1,104
Provision for Uncollectible Notes and Other Receivables 823 1,056
Gain on Sales of Marketable Securities, net (2,342) 0
(Increase) Decrease in Fair Value of Marketable Securities (14,120) 31,921
Loss on Sales of Investment Property and Equipment 109 177
Changes in Operating Assets and Liabilities:    
Inventory of Manufactured Homes 5,119 4,904
Notes and Other Receivables, net of notes acquired with acquisitions (8,125) (7,664)
Prepaid Expenses and Other Assets (5,492) (666)
Accounts Payable 295 1,174
Accrued Liabilities and Deposits (1,093) 4,106
Tenant Security Deposits 442 774
Net Cash Provided by Operating Activities 46,250 50,341
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of Manufactured Home Communities (19,195) (6,274)
Purchase of Investment Property and Equipment (46,527) (59,427)
Proceeds from Sales of Investment Property and Equipment 2,023 1,919
Additions to Land Development Costs (17,111) (12,966)
Purchase of Marketable Securities (12) (896)
Proceeds from Sales of Marketable Securities 16,835 0
Net Cash Used in Investing Activities (63,987) (77,644)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Mortgages, net of mortgages assumed 6,070 105,984
Net Payments on Short-Term Borrowings (47,339) (49,191)
Principal Payments of Mortgages (10,479) (6,579)
Financing Costs on Debt (127) (3,927)
Proceeds from At-The-Market Preferred Equity Program, net of offering costs 53,213 71,473
Proceeds from At-The-Market Common Equity Program, net of offering costs 110,521 1,477
Proceeds from Issuance of Common Stock in the DRIP, net of Dividend Reinvestments 4,737 3,225
Repurchase of Preferred Stock, net 0 (12)
Repurchase of Common Stock, net 0 (1,830)
Proceeds from Exercise of Stock Options 8,304 622
Preferred Dividends Paid (22,239) (24,289)
Common Dividends Paid, net of Dividend Reinvestments (23,047) (19,959)
Net Cash Provided by Financing Activities 79,614 76,994
Net Increase in Cash, Cash Equivalents and Restricted Cash 61,877 49,691
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 28,593 18,996
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 90,470 $ 68,687