Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Rental income $ 2,077,453 $ 1,954,052 $ 4,116,137 $ 3,856,153
Other property related income 71,234 65,678 139,060 125,461
Total revenues 2,148,687 2,019,730 4,255,197 3,981,614
Expenses        
Property operations 923,529 823,672 1,836,878 1,673,366
General and administrative 554,635 456,330 1,110,639 921,752
Depreciation and amortization 352,809 349,173 704,376 698,046
Business development 15,044 10,000 23,294 10,000
Total expenses 1,846,017 1,639,175 3,675,187 3,303,164
Operating income 302,670 380,555 580,010 678,450
Other income (expense)        
Dividend and interest income 17,446 17,779 34,646 41,126
Unrealized gain on marketable equity securities 72,833 217,349 227,282 175,442
Interest expense (256,104) (220,209) (517,270) (440,417)
Total other income (expense), net (165,825) 14,919 (255,342) (223,849)
Net income $ 136,845 $ 395,474 $ 324,668 $ 454,601
Earnings per share        
Basic $ 0.02 $ 0.05 $ 0.04 $ 0.06
Diluted $ 0.02 $ 0.05 $ 0.04 $ 0.06
Weighted average shares outstanding        
Basic 7,640,991 7,619,549 7,635,885 7,619,509
Diluted 7,650,296 7,620,283 7,642,980 7,619,999