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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue:        
Leasing revenue $ 10,049 $ 7,146 $ 28,215 $ 19,112
Total revenue 57,576 53,996 190,697 167,540
Expenses:        
Corporate and other operating expenses 5,322 4,987 16,493 17,161
Depreciation, depletion and amortization 5,771 4,617 16,263 12,594
Total expenses 45,399 37,835 139,491 115,090
Operating income (loss) 12,177 16,161 51,206 52,450
Other income (expense):        
Investment income, net 2,735 2,331 7,531 4,813
Interest expense (4,727) (4,114) (12,951) (11,639)
Gain on contributions to unconsolidated joint ventures 1,430   2,001 3,290
Other income, net 2,128 7,329 6,045 9,595
Total other (expense) income, net 1,566 5,546 2,626 6,059
Income before equity in income (loss) from unconsolidated joint ventures and income taxes 13,743 21,707 53,832 58,509
Equity in income (loss) from unconsolidated joint ventures 2,481 (501) 3,415 (1,570)
Income tax expense (4,163) (6,429) (14,643) (15,180)
Net income (loss) 12,061 14,777 42,604 41,759
Net loss attributable to non-controlling interest 286 419 194 857
Net income attributable to the Company $ 12,347 $ 15,196 $ 42,798 $ 42,616
NET INCOME PER SHARE ATTRIBUTABLE TO THE COMPANY        
Basic (in dollars per share) $ 0.21 $ 0.26 $ 0.73 $ 0.72
Diluted (in dollars per share) $ 0.21 $ 0.26 $ 0.73 $ 0.72
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 58,814,972 58,882,549 58,859,723 58,882,549
Diluted (in shares) 58,814,972 58,882,549 58,861,440 58,882,549
Real Estate        
Revenue:        
Revenue $ 17,330 $ 23,500 $ 82,132 $ 85,615
Expenses:        
Cost of revenue 7,229 8,471 35,324 33,067
Hospitality        
Revenue:        
Revenue 29,035 22,292 74,912 57,986
Expenses:        
Cost of revenue 21,959 16,536 58,238 43,469
Leasing        
Expenses:        
Cost of revenue 4,946 3,106 12,596 8,297
Timber        
Revenue:        
Revenue 1,162 1,058 5,438 4,827
Expenses:        
Cost of revenue $ 172 $ 118 $ 577 $ 502