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CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE INCOME - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Rental income $ 3,070,871 $ 2,968,263 $ 8,967,371 $ 8,857,845
Total revenues 3,200,276 3,090,374 9,343,354 9,214,345
Expenses        
Property operations 1,153,947 1,163,064 3,556,232 3,374,379
General and administrative 762,000 683,629 2,457,551 2,172,965
Depreciation and amortization 409,227 409,245 1,225,290 1,224,624
Business development 2,012 5,903 4,287 11,152
Total expenses 2,327,186 2,261,841 7,243,360 6,783,120
Operating income 873,090 828,533 2,099,994 2,431,225
Other income (expense)        
Dividend and interest income 68,703 66,906 211,030 194,960
Unrealized gain (loss) on marketable equity securities 499,283 (411,969) 403,935 (165,266)
Interest expense (259,419) (212,712) (675,622) (619,550)
Total other expense, net 308,567 (557,775) (60,657) (589,856)
Net income and comprehensive income $ 1,181,657 $ 270,758 $ 2,039,337 $ 1,841,369
Earnings per share        
Basic $ 0.11 $ 0.02 $ 0.18 $ 0.17
Diluted $ 0.1 $ 0.02 $ 0.18 $ 0.16
Weighted average shares outstanding        
Basic 11,101,705 11,048,877 11,087,613 11,041,578
Diluted 11,159,187 11,090,674 11,127,016 11,084,684
Other property related income        
Revenues        
Revenues $ 111,618 $ 103,676 $ 323,957 $ 293,788
Management fees and other income        
Revenues        
Revenues $ 17,787 $ 18,435 $ 52,026 $ 62,712