v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 20,325 $ 21,700
Non-Cash items included in Net Income:    
Depreciation 54,773 49,210
Amortization of Financing Costs 2,939 2,123
Stock Compensation Expense 3,067 4,320
Provision for Uncollectible Notes and Other Receivables 1,483 1,289
Loss on Sales of Marketable Securities, net 36,548 0
(Increase) Decrease in Fair Value of Marketable Securities (38,663) 161
(Gain) Loss on Sales of Investment Property and Equipment (72) 109
Loss on Investment in Joint Ventures 431 596
Changes in Operating Assets and Liabilities:    
Inventory of Manufactured Homes (4,680) (745)
Notes and Other Receivables (12,970) (11,736)
Prepaid Expenses and Other Assets (4,659) (3,871)
Accounts Payable 1,769 255
Accrued Liabilities and Deposits 1,045 (3,473)
Tenant Security Deposits 744 705
Net Cash Provided by Operating Activities 62,080 60,643
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of Manufactured Home Communities 0 (40,166)
Purchase of Investment Property and Equipment (91,402) (85,471)
Proceeds from Sales of Investment Property and Equipment 4,159 3,077
Additions to Land Development Costs (40,855) (39,712)
Purchase of Marketable Securities through automatic reinvestments (23) (21)
Proceeds from Sales of Marketable Securities 290 (0)
Investment in Joint Ventures (3,469) (2,443)
Net Cash Used in Investing Activities (131,300) (164,736)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Mortgages 10,242 101,392
Net Proceeds (Payments) from Short-Term Borrowings 101,905 (582)
Principal Payments of Mortgages and Loans (23,756) (118,179)
Proceeds from Bond Issuance (0) 80,229
Financing Costs on Debt (2,194) (7,167)
Proceeds from At-The-Market Preferred Equity Program, net of offering costs 13,800 1,041
Proceeds from At-The-Market Common Equity Program, net of offering costs (0) 44,197
Proceeds from Issuance of Common Stock in the DRIP, net of dividend reinvestments 3,928 4,486
Proceeds from Exercise of Stock Options 1,566 535
Preferred Dividends Paid (15,682) (15,387)
Common Dividends Paid, net of dividend reinvestments (54,470) (53,180)
Net Cash Provided by Financing Activities 35,339 37,385
Net Decrease in Cash, Cash Equivalents and Restricted Cash (33,881) (66,708)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 80,926 108,811
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 47,045 $ 42,103