Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Significant Accounting Policies

Schedule of computation of basic and diluted earnings per share

The computation of basic and diluted earnings per share are as follows:

	Year Ended December 31,
	2022		2021		2020
Income
Net income attributable to the Company	$	70,927	$	74,553	$	45,203
Shares
Weighted average shares outstanding - basic		58,720,050		58,882,549		59,009,865
Incremental shares from restricted stock		1,288		—		—
Weighted average shares outstanding - diluted		58,721,338		58,882,549		59,009,865
Net income per share attributable to the Company
Basic income per share	$	1.21	$	1.27	$	0.77
Diluted income per share	$	1.21	$	1.27	$	0.77

Schedule of revenue disaggregated by segment, good or service and timing

The following represents revenue disaggregated by segment, good or service and timing:

	Year Ended December 31, 2022
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	92,804	$	—	$	13,678	$	2,677	$	109,159
Hospitality revenue		—		96,731		529		—		97,260
Leasing revenue		82		505		38,466		143		39,196
Timber revenue		—		—		6,706		—		6,706
Total revenue	$	92,886	$	97,236	$	59,379	$	2,820	$	252,321
Timing of Revenue Recognition:
Recognized at a point in time	$	92,804	$	68,653	$	20,913	$	2,677	$	185,047
Recognized over time		—		28,078		—		—		28,078
Over lease term		82		505		38,466		143		39,196
Total revenue	$	92,886	$	97,236	$	59,379	$	2,820	$	252,321

	Year Ended December 31, 2021
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	144,664	$	—	$	12,002	$	1,963	$	158,629
Hospitality revenue		—		74,538		727		—		75,265
Leasing revenue		190		53		26,807		31		27,081
Timber revenue		—		—		6,021		—		6,021
Total revenue	$	144,854	$	74,591	$	45,557	$	1,994	$	266,996
Timing of Revenue Recognition:
Recognized at a point in time	$	144,664	$	55,181	$	18,750	$	1,963	$	220,558
Recognized over time		—		19,357		—		—		19,357
Over lease term		190		53		26,807		31		27,081
Total revenue	$	144,854	$	74,591	$	45,557	$	1,994	$	266,996

	Year Ended December 31, 2020
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	74,137	$	—	$	11,689	$	1,801	$	87,627
Hospitality revenue		—		47,366		412		—		47,778
Leasing revenue		166		8		18,645		—		18,819
Timber revenue		—		—		6,331		—		6,331
Total revenue	$	74,303	$	47,374	$	37,077	$	1,801	$	160,555
Timing of Revenue Recognition:
Recognized at a point in time	$	74,137	$	36,262	$	18,432	$	1,801	$	130,632
Recognized over time		—		11,104		—		—		11,104
Over lease term		166		8		18,645		—		18,819
Total revenue	$	74,303	$	47,374	$	37,077	$	1,801	$	160,555

Investment in real estate, net

Significant Accounting Policies

Schedule of estimated economic life

	Estimated Useful
	Life (in years)
Land	N/A
Land improvements	15 - 20
Buildings	20 - 40
Building improvements	5 - 25
Timber	N/A

Property and equipment, net

Significant Accounting Policies

Schedule of estimated economic life

	Estimated Useful
	Life (in years)
Railroad and equipment	15 - 30
Furniture and fixtures	5 - 10
Machinery and equipment	3 - 10
Office equipment	5 - 10
Autos, trucks and aircraft	5 - 10