CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Real estate investments at cost:
Land	$ 141,602	$ 141,602
Buildings and improvements	282,780	282,631
Projects under construction	16,730	10,845
Total investments in properties	441,112	435,078
Less accumulated depreciation and depletion	70,241	67,758
Net investments in properties	370,871	367,320
Real estate held for investment, at cost	10,832	10,662
Investments in joint ventures	164,271	166,066
Net real estate investments	545,974	544,048
Cash and cash equivalents	152,484	157,555
Cash held in escrow	655	860
Accounts receivable, net	1,397	1,046
Federal and state income taxes receivable	0	337
Unrealized rents	1,770	1,640
Deferred costs	2,798	3,091
Other assets	595	589
Total assets	705,673	709,166
Liabilities:
Secured notes payable	178,742	178,705
Accounts payable and accrued liabilities	3,829	8,333
Other liabilities	1,487	1,487
Federal and state income taxes payable	60	0
Deferred revenue	920	925
Deferred income taxes	69,456	69,456
Deferred compensation	1,423	1,409
Tenant security deposits	885	875
Total liabilities	256,802	261,190
Commitments and contingencies
Equity:
Common stock, $.10 par value 25,000,000 shares authorized, 19,000,600 and 18,968,448 shares issued and outstanding, respectively	1,900	1,897
Capital in excess of par value	67,023	66,706
Retained earnings	347,183	345,882
Accumulated other comprehensive income, net	27	35
Total shareholders’ equity	416,133	414,520
Noncontrolling interest	32,738	33,456
Total equity	448,871	447,976
Total liabilities and equity	$ 705,673	$ 709,166