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Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INCOME:        
Rental and Related Income $ 51,937 $ 48,135 $ 153,760 $ 140,503
Sales of Manufactured Homes 8,734 7,909 24,919 23,438
Total Income 60,671 56,044 178,679 163,941
EXPENSES:        
Community Operating Expenses 22,511 20,673 65,203 60,795
Cost of Sales of Manufactured Homes 5,446 5,334 16,463 16,059
Selling Expenses 1,787 1,792 5,177 5,269
General and Administrative Expenses 4,474 4,491 15,348 14,654
Depreciation Expense 14,693 14,147 44,435 41,271
Total Expenses 48,911 46,437 146,626 138,048
OTHER INCOME (EXPENSE):        
Interest Income 1,816 1,306 4,884 3,661
Dividend Income 357 508 1,079 1,745
Gain (Loss) on Sales of Marketable Securities, net 0 226 (3,778) 183
Increase (Decrease) in Fair Value of Marketable Securities 5,499 (5,496) 3,468 (10,439)
Other Income 150 235 514 850
Loss on Investment in Joint Venture (75) (165) (299) (645)
Interest Expense (6,524) (7,694) (21,369) (24,662)
Total Other Income (Expense) 1,223 (11,080) (15,501) (29,307)
Income (Loss) before Gain (Loss) on Sales of Investment Property and Equipment 12,983 (1,473) 16,552 (3,414)
Gain (Loss) on Sales of Investment Property and Equipment (78) (26) (91) 11
Net Income (Loss) 12,905 (1,499) 16,461 (3,403)
Preferred Dividends (4,783) (4,364) (14,168) (12,251)
Loss Attributable to Non-Controlling Interest 59 32 151 108
Net Income (Loss) Attributable to Common Shareholders $ 8,181 $ (5,831) $ 2,444 $ (15,546)
Net Income (Loss) Attributable to Common Shareholders Per Share - Basic $ 0.11 $ (0.09) $ 0.03 $ (0.25)
Net Income (Loss) Attributable to Common Shareholders Per Share - Diluted $ 0.11 $ (0.09) $ 0.03 $ (0.25)
Weighted Average Common Shares Outstanding:        
Basic 75,610 65,076 72,173 61,853
Diluted 76,563 65,554 72,971 62,508