v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 17,221 $ 12,415
Non-Cash items included in Net Income:    
Depreciation 36,243 32,402
Amortization of Financing Costs 2,063 1,246
Stock Compensation Expense 2,124 3,619
Provision for Uncollectible Notes and Other Receivables 976 845
Loss on Sales of Marketable Securities, net 36,418 0
(Increase) Decrease in Fair Value of Marketable Securities (42,310) 1,737
(Gain) Loss on Sales of Investment Property and Equipment (45) 37
Loss on Investment in Joint Ventures 281 410
Changes in Operating Assets and Liabilities:    
Inventory of Manufactured Homes 697 (3,706)
Notes and Other Receivables (6,895) (6,816)
Prepaid Expenses and Other Assets (2,077) (3,002)
Accounts Payable 2,248 548
Accrued Liabilities and Deposits (1,875) (2,966)
Tenant Security Deposits 563 426
Net Cash Provided by Operating Activities 45,632 37,195
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of Manufactured Home Communities 0 (25,367)
Purchase of Investment Property and Equipment (57,908) (50,494)
Proceeds from Sales of Investment Property and Equipment 2,465 2,072
Additions to Land Development Costs (22,877) (25,308)
Purchase of Marketable Securities through automatic reinvestments (15) (13)
Investment in Joint Ventures (551) (1,538)
Net Cash Used in Investing Activities (78,886) (100,648)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Mortgages (0) 101,392
Net Proceeds (Payments) from Short-Term Borrowings 39,407 (928)
Principal Payments of Mortgages and Loans (11,257) (55,194)
Financing Costs on Debt (1,953) (2,079)
Proceeds from At-The-Market Preferred Equity Program, net of offering costs 8,648 982
Proceeds from At-The-Market Common Equity Program, net of offering costs (0) 39,565
Proceeds from Issuance of Common Stock in the DRIP, net of dividend reinvestments 2,611 3,131
Proceeds from Exercise of Stock Options 97 491
Preferred Dividends Paid (10,353) (10,258)
Common Dividends Paid, net of dividend reinvestments (36,328) (34,977)
Net Cash (Used In) Provided by Financing Activities (9,128) 42,125
Net Decrease in Cash, Cash Equivalents and Restricted Cash (42,382) (21,328)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 80,926 108,811
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 38,544 $ 87,483