v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real estate investments at cost:    
Land $ 182,857 $ 182,936
Buildings and improvements 310,344 309,132
Projects under construction 75,893 45,032
Total investments in properties 569,094 537,100
Less accumulated depreciation and depletion 94,298 88,558
Net investments in properties 474,796 448,542
Real estate held for investment, at cost 12,872 12,626
Investments in joint ventures 158,302 153,084
Net real estate investments 645,970 614,252
Cash, cash equivalents and restricted cash including $11,570 and $11,394 of restricted cash at June 30, 2026 and December 31, 2025, respectively 100,975 105,361
Accounts receivable, net 1,943 1,874
Federal and state income taxes receivable 1,354 1,071
Unrealized rents 1,420 1,264
Deferred costs 3,082 3,768
Goodwill 6,893 6,893
Other assets 676 662
Total assets 762,313 735,145
Liabilities:    
Notes payable, net 214,618 192,554
Accounts payable and accrued liabilities 17,784 12,148
Other liabilities 2,503 2,317
Deferred revenue 3,464 3,356
Deferred income taxes 66,900 66,900
Deferred compensation 1,521 1,524
Tenant security deposits 696 689
Total liabilities 307,486 279,488
Commitments and contingencies
Equity:    
Common stock, $.10 par value 25,000,000 shares authorized, 19,198,301 and 19,109,541 shares issued and outstanding, respectively 1,920 1,911
Capital in excess of par value 72,736 71,368
Retained earnings 354,264 355,210
Accumulated other comprehensive income, net 26 24
Total shareholders’ equity 428,946 428,513
Noncontrolling interests 25,881 27,144
Total equity 454,827 455,657
Total liabilities and equity $ 762,313 $ 735,145