Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Land	$ 81,679	$ 84,383
Buildings and improvements	147,819	147,019
Projects under construction	888	1,056
Total investments in properties	230,386	232,458
Less accumulated depreciation and depletion	32,634	30,271
Net investments in properties	197,752	202,187
Real estate held for investment, at cost	8,788	8,380
Investments in joint ventures	159,779	160,452
Net real estate investments	366,319	371,019
Cash and cash equivalents	30,742	26,607
Cash held in escrow	3,739	186
Accounts receivable, net	1,323	546
Investments available for sale at fair value	130,058	137,867
Unrealized rents	657	554
Deferred costs	791	890
Other assets	488	479
Total assets	534,117	538,148
Liabilities:
Secured notes payable	88,993	88,925
Accounts payable and accrued liabilities	2,155	2,431
Other liabilities	1,886	1,978
Federal and state income taxes payable	2,651	504
Deferred revenue	627	790
Deferred income taxes	50,212	50,111
Deferred compensation	1,430	1,436
Tenant security deposits	362	328
Total liabilities	148,316	146,503
Commitments and contingencies
Equity:
Common stock, $.10 par value; 25,000,000 shares authorized, 9,563,144 and 9,817,429 shares issued and outstanding, respectively	956	982
Capital in excess of par value	57,107	57,705
Retained earnings	310,486	315,278
Accumulated other comprehensive income, net	1,194	923
Total shareholders' equity	369,743	374,888
Noncontrolling interest MRP	16,058	16,757
Total Equity	385,801	391,645
Total liabilities and shareholders' equity	$ 534,117	$ 538,148