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 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Rental income $ 2,115,053 $ 1,988,133 $ 6,231,190 $ 5,844,286
Other property related income 72,194 70,020 211,255 195,482
Total revenues 2,187,247 2,058,153 6,442,445 6,039,768
Expenses        
Property operations 869,231 785,795 2,706,109 2,459,160
General and administrative 533,418 436,335 1,644,057 1,358,088
Depreciation and amortization 351,711 349,507 1,056,087 1,047,553
Business development 72,691 15,000 95,985 25,000
Total expenses 1,827,051 1,586,637 5,502,238 4,889,801
Operating income 360,196 471,516 940,207 1,149,967
Other income (expense)        
Dividend and interest income 17,180 17,665 51,826 58,790
Unrealized gain (loss) on marketable equity securities 127,820 (180,021) 355,102 (4,579)
Interest expense (255,963) (219,792) (773,234) (660,209)
Total other income (expense), net (110,963) (382,148) (366,306) (605,998)
Net income $ 249,233 $ 89,368 $ 573,901 $ 543,969
Earnings per share        
Basic $ 0.03 $ 0.01 $ 0.08 $ 0.07
Diluted $ 0.03 $ 0.01 $ 0.08 $ 0.07
Weighted average shares outstanding        
Basic 7,646,875 7,623,182 7,639,588 7,620,747
Diluted 7,652,257 7,626,286 7,640,874 7,621,769