Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investment Property and Equipment
Land	$ 74,963	$ 73,491
Site and Land Improvements	716,211	657,301
Buildings and Improvements	30,450	28,106
Rental Homes and Accessories	383,467	349,585
Total Investment Property	1,205,091	1,108,483
Equipment and Vehicles	24,437	22,572
Total Investment Property and Equipment	1,229,528	1,131,055
Accumulated Depreciation	(316,073)	(272,823)
Net Investment Property and Equipment	913,455	858,232
Other Assets
Cash and Cash Equivalents	116,175	15,336
Marketable Securities at Fair Value	113,748	103,172
Inventory of Manufactured Homes	23,659	25,450
Notes and Other Receivables, net	55,359	46,414
Prepaid Expenses and Other Assets	17,135	19,984
Land Development Costs	22,352	20,825
Investment in Joint Venture	8,937	(0)
Total Other Assets	357,365	231,181
TOTAL ASSETS	1,270,820	1,089,413
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs	452,567	471,477
Other Liabilities:
Accounts Payable	4,274	4,390
Loans Payable, net of unamortized debt issuance costs	46,757	87,009
Accrued Liabilities and Deposits	17,162	17,296
Tenant Security Deposits	7,920	7,433
Total Other Liabilities	76,113	116,128
Total Liabilities	528,680	587,605
Commitments and Contingencies
Shareholders’ Equity:
Series C – 6.75% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 13,750 shares authorized; 9,884 shares issued and outstanding as of December 31, 2021 and 2020	247,100	247,100
Series D – 6.375% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 9,300 shares authorized; 8,609 and 6,434 shares issued and outstanding as of December 31, 2021 and 2020, respectively	215,219	160,854
Common Stock - $0.10 par value per share, 144,164 shares authorized; 51,651 and 41,920 shares issued and outstanding as of December 31, 2021 and 2020, respectively	5,165	4,192
Excess Stock - $0.10 par value per share, 3,000 shares authorized; no shares issued or outstanding as of December 31, 2021 and 2020	(0)	(0)
Additional Paid-In Capital	300,020	115,026
Undistributed Income (Accumulated Deficit)	(25,364)	(25,364)
Total Shareholders’ Equity	742,140	501,808
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,270,820	$ 1,089,413