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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Assets:      
Land $ 127,700 $ 99,417 $ 99,357
Buildings and improvements 334,327 195,443 193,283
Projects under construction 8,381 11,779 8,592
Total investments in properties 470,408 306,639 301,232
Less accumulated depreciation and depletion 94,804 82,392 80,616
Net investments in properties 375,604 224,247 220,616
Real estate held for investment, at cost 7,176 7,176 7,176
Investments in joint ventures 13,406 22,901 23,854
Net real estate investments 396,186 254,324 251,646
Cash and cash equivalents 4,524 0 0
Cash held in escrow 333 0 0
Accounts receivable, net 1,020 710 987
Federal and state income taxes receivable 2,962 0 0
Unrealized rents 4,311 4,562 4,657
Deferred costs 9,217 6,786 7,321
Other assets 181 178 178
Total assets 418,734 266,560 264,789
Liabilities:      
Line of credit payable 0 6,665 6,807
Secured notes payable, current portion 4,463 4,526 4,455
Secured notes payable, less current portion 113,854 29,554 30,670
Accounts payable and accrued liabilities 4,370 3,747 4,344
Environmental remediation liability 2,037 2,037 2,037
Bank overdraft 0 254 6
Federal and state income taxes payable 0 887 13
Deferred revenue 1,074 1,126 1,423
Deferred income taxes 25,982 16,455 16,436
Deferred compensation 1,457 1,475 1,453
Deferred lease intangible, net 0 9 14
Tenant security deposits 915 1,005 1,032
Total liabilities 154,152 67,740 68,690
Commitments and contingencies (Note 14 & 15)
Equity:      
Common stock, $.10 par value; 25,000,000 shares authorized, 10,014,667, 9,914,054 and 9,867,279 shares issued and outstanding, respectively 1,001 991 987
Capital in excess of par value 55,636 52,647 51,606
Retained earnings 186,855 145,168 143,486
Accumulated other comprehensive income, net 38 14 20
Total shareholders' equity 243,530 198,820 196,099
Noncontrolling interest MRP 21,052 0 0
Total Equity 264,582 198,820 196,099
Total liabilities and shareholders' equity $ 418,734 $ 266,560 $ 264,789