Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Investment Property and Equipment
Land	$ 76,073	$ 74,963
Site and Land Improvements	725,061	716,211
Buildings and Improvements	32,377	30,450
Rental Homes and Accessories	388,189	383,467
Total Investment Property	1,221,700	1,205,091
Equipment and Vehicles	24,827	24,437
Total Investment Property and Equipment	1,246,527	1,229,528
Accumulated Depreciation	(327,339)	(316,073)
Net Investment Property and Equipment	919,188	913,455
Other Assets
Cash and Cash Equivalents	292,465	116,175
Marketable Securities at Fair Value	56,971	113,748
Inventory of Manufactured Homes	34,288	23,659
Notes and Other Receivables, net	57,937	55,359
Prepaid Expenses and Other Assets	18,049	17,135
Land Development Costs	25,875	22,352
Investment in Joint Venture	9,053	8,937
Total Other Assets	494,638	357,365
TOTAL ASSETS	1,413,826	1,270,820
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs	474,466	452,567
Other Liabilities:
Accounts Payable	4,365	4,274
Loans Payable, net of unamortized debt issuance costs	41,874	46,757
Series A Bonds, net of unamortized debt issuance costs	98,821	0
Accrued Liabilities and Deposits	16,677	17,162
Tenant Security Deposits	8,009	7,920
Total Other Liabilities	169,746	76,113
Total Liabilities	644,212	528,680
Commitments and Contingencies
Shareholders’ Equity:
Series C – 6.75% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 13,750 shares authorized; 9,884 shares issued and outstanding as of March 31, 2022 and December 31, 2021	247,100	247,100
Series D – 6.375% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 9,300 shares authorized; 8,609 shares issued and outstanding as of March 31, 2022 and December 31, 2021	215,219	215,219
Common Stock - $0.10 par value per share; 144,164 shares authorized; 53,500 and 51,651 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	5,350	5,165
Excess Stock - $0.10 par value per share; 3,000 shares authorized; no shares issued or outstanding as of March 31, 2022 and December 31, 2021	0	0
Additional Paid-In Capital	327,309	300,020
Undistributed Income (Accumulated Deficit)	(25,364)	(25,364)
Total Shareholders’ Equity	769,614	742,140
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,413,826	$ 1,270,820