CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Real estate investments at cost:
Land	$ 168,958	$ 141,602
Buildings and improvements	283,104	282,631
Projects under construction	29,414	10,845
Total investments in properties	481,476	435,078
Less accumulated depreciation and depletion	75,183	67,758
Net investments in properties	406,293	367,320
Real estate held for investment, at cost	11,290	10,662
Investments in joint ventures	157,272	166,066
Net real estate investments	574,855	544,048
Cash and cash equivalents	144,681	157,555
Cash held in escrow	981	860
Accounts receivable, net	1,826	1,046
Federal and state income taxes receivable	0	337
Unrealized rents	1,395	1,640
Deferred costs	2,569	3,091
Other assets	611	589
Total assets	726,918	709,166
Liabilities:
Secured notes payable	178,816	178,705
Accounts payable and accrued liabilities	6,060	8,333
Other liabilities	1,487	1,487
Federal and state income taxes payable	452	0
Deferred revenue	2,392	925
Deferred income taxes	68,356	69,456
Deferred compensation	1,451	1,409
Tenant security deposits	801	875
Total liabilities	259,815	261,190
Commitments and contingencies	0	0
Equity:
Common stock, $.10 par value 25,000,000 shares authorized, 19,030,474 and 18,968,448 shares issued and outstanding, respectively	1,903	1,897
Capital in excess of par value	68,313	66,706
Retained earnings	350,588	345,882
Accumulated other comprehensive income, net	80	35
Total shareholders’ equity	420,884	414,520
Noncontrolling interests	46,219	33,456
Total equity	467,103	447,976
Total liabilities and equity	$ 726,918	$ 709,166