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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue:      
Leasing revenue $ 39,196 $ 27,081 $ 18,819
Total revenue 252,321 266,996 160,555
Expenses:      
Cost of revenue 145,898 131,314 77,776
Corporate and other operating expenses 22,068 23,023 22,906
Depreciation, depletion and amortization 22,888 18,202 12,788
Total expenses 190,854 172,539 113,470
Operating income (loss) 61,467 94,457 47,085
Other income (expense):      
Investment income, net 9,862 7,254 4,983
Interest expense (18,383) (15,854) (13,564)
Gain on contributions to unconsolidated joint ventures 2,738 3,558 19,983
Equity in income (loss) from unconsolidated joint ventures 25,986 (865) (666)
Other income, net 12,947 10,181 1,329
Total other income, net 33,150 4,274 12,065
Income before income taxes 94,617 98,731 59,150
Income tax expense (24,389) (24,982) (13,670)
Net income 70,228 73,749 45,480
Net loss (income) attributable to non-controlling interest 699 804 (277)
Net income attributable to the Company $ 70,927 $ 74,553 $ 45,203
NET INCOME PER SHARE ATTRIBUTABLE TO THE COMPANY      
Basic (in dollars per share) $ 1.21 $ 1.27 $ 0.77
Diluted (in dollars per share) $ 1.21 $ 1.27 $ 0.77
WEIGHTED AVERAGE SHARES OUTSTANDING      
Basic (in shares) 58,720,050 58,882,549 59,009,865
Diluted (in shares) 58,721,338 58,882,549 59,009,865
Real Estate      
Revenue:      
Revenue $ 109,159 $ 158,629 $ 87,627
Expenses:      
Cost of revenue 50,009 60,703 35,794
Hospitality      
Revenue:      
Revenue 97,260 75,265 47,778
Expenses:      
Cost of revenue 77,518 58,314 35,239
Leasing      
Expenses:      
Cost of revenue 17,589 11,620 5,934
Timber      
Revenue:      
Revenue 6,706 6,021 6,331
Expenses:      
Cost of revenue $ 782 $ 677 $ 809