Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets:
Land	$ 84,383	$ 83,721
Buildings and improvements	145,690	144,543
Projects under construction	1,461	6,683
Total investments in properties	231,534	234,947
Less accumulated depreciation and depletion	28,871	28,394
Net investments in properties	202,663	206,553
Real estate held for investment, at cost	8,283	7,167
Investments in joint ventures	103,822	88,884
Net real estate investments	314,768	302,604
Cash and cash equivalents	69,246	22,547
Cash held in escrow	6,734	202
Accounts receivable, net	919	564
Investments available for sale at fair value	115,308	165,212
Federal and state income taxes receivable	27,189	9,854
Unrealized rents	548	53
Deferred costs	1,079	773
Other assets	474	455
Assets of discontinued operations	32	3,224
Total assets	536,297	505,488
Liabilities:
Secured notes payable	88,891	88,789
Accounts payable and accrued liabilities	1,488	3,545
Other liabilities	1,978	100
Deferred revenue	831	27
Deferred income taxes	51,104	27,981
Deferred compensation	1,439	1,450
Tenant security deposits	334	53
Liabilities of discontinued operations	18	288
Total liabilities	146,083	122,233
Commitments and contingencies
Equity:
Common stock, $.10 par value; 25,000,000 shares authorized, 9,823,668 and 9,969,174 shares issued and outstanding, respectively	982	997
Capital in excess of par value	57,627	58,004
Retained earnings	313,262	306,307
Accumulated other comprehensive income, net	1,161	(701)
Total shareholders' equity	373,032	364,607
Noncontrolling interest MRP	17,182	18,648
Total Equity	390,214	383,255
Total liabilities and shareholders' equity	$ 536,297	$ 505,488