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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Oct. 31, 2025
USD ($)
Oct. 31, 2024
USD ($)
Oct. 31, 2023
USD ($)
Operating activities:      
Net income (loss) $ 3,146 $ 16,933 $ (575)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Net loss on sale of Maryland properties 356 1,003
Depreciation 2,965 2,981 2,944
Amortization 549 647 612
Stock based compensation expense 1 11
Directors fees and related interest paid in stock units 26
Stock awards granted to directors 140 141 140
Loss on investment in tenancy-in-common 135 170 271
Deferred rents - straight line rent 100 118 100
Bad debt expense 107 116 16
Accreted interest on investment in U.S. Treasury securities (800) (801) (353)
Changes in operating assets and liabilities:      
Tenants' security accounts (73) (57) (23)
Accounts receivable, prepaid expenses and other assets 59 (48) 152
Accounts payable, accrued expenses and deferred director compensation payable 21 (448) (1,954)
Deferred revenue 121 54 311
Deferred interest on mortgage (222)
Net cash provided by operating activities 6,248 20,163 2,681
Investing activities:      
Cash outlays from sale of Maryland properties, net (356) (1,003)
Purchase of U.S. Treasury securities (48,184) (45,663) (38,444)
Proceeds from maturities of U.S. Treasury securities 60,082 40,786 15,204
Capital improvements - existing properties (759) (1,242) (1,290)
Deferred leasing costs (51) (89) (170)
Distribution from investment in tenancy-in-common 455 455 390
Net cash provided by(used in) investing activities 11,543 (6,109) (25,313)
Financing activities:      
Repayment of mortgages (7,349) (9,308) (26,538)
Proceeds from mortgage loan refinancings 25,500
Proceeds from exercise of stock options 38 1,263
Deferred financing costs (176) (206) (481)
Dividends paid (7,167) (1,491) (13,721)
Distributions to noncontrolling interests in subsidiaries (794) (2,220) (3,535)
Net cash used in financing activities (15,486) (13,187) (17,512)
Net increase (decrease) in cash, cash equivalents and restricted cash 2,305 867 (40,144)
Cash, cash equivalents and restricted cash, beginning of year 19,223 18,356 58,500
Cash, cash equivalents and restricted cash, end of year 21,528 19,223 18,356
Supplemental disclosure of cash flow data:      
Interest paid 7,044 6,783 7,182
Investing activities:      
Accrued capital expenditures, construction costs and pre-development costs 27 237 210
Financing activities:      
Dividends declared but not paid 747 5,224 372
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets:      
Cash and cash equivalents 17,926 14,914 13,217
Tenants' security accounts 833 913 962
Funds held in post-closing escrow 883
Mortgage escrows (included in prepaid expenses and other assets) 2,769 3,396 3,294
Total cash, cash equivalents and restricted cash $ 21,528 $ 19,223 $ 18,356