Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Summary of Significant Accounting Policies

Schedule of computation of basic and diluted earnings per share

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(Dollars in thousands except per share amounts)
Income
Net income attributable to the Company	$	34,727	$	17,039	$	45,117	$	30,451
Shares
Weighted average shares outstanding - basic		58,314,117		58,882,392		58,311,619		58,882,470
Incremental shares from restricted stock		3,403		5,048		1,701		2,576
Weighted average shares outstanding - diluted		58,317,520		58,887,440		58,313,320		58,885,046
Net income per share attributable to the Company
Basic income per share	$	0.60	$	0.29	$	0.77	$	0.52
Diluted income per share	$	0.60	$	0.29	$	0.77	$	0.52

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

	Three Months Ended June 30, 2023
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	63,403	$	—	$	5,167	$	775	$	69,345
Hospitality revenue		—		45,095		4		—		45,099
Leasing revenue		5		516		11,785		72		12,378
Timber revenue		—		—		1,345		—		1,345
Total revenue	$	63,408	$	45,611	$	18,301	$	847	$	128,167
Timing of Revenue Recognition:
Recognized at a point in time	$	63,403	$	37,077	$	6,516	$	775	$	107,771
Recognized over time		—		8,018		—		—		8,018
Over lease term		5		516		11,785		72		12,378
Total revenue	$	63,408	$	45,611	$	18,301	$	847	$	128,167

	Three Months Ended June 30, 2022
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	23,005	$	—	$	4,499	$	523	$	28,027
Hospitality revenue		—		29,322		234		—		29,556
Leasing revenue		5		48		9,269		23		9,345
Timber revenue		—		—		1,322		—		1,322
Total revenue	$	23,010	$	29,370	$	15,324	$	546	$	68,250
Timing of Revenue Recognition:
Recognized at a point in time	$	23,005	$	22,076	$	6,055	$	523	$	51,659
Recognized over time		—		7,246		—		—		7,246
Over lease term		5		48		9,269		23		9,345
Total revenue	$	23,010	$	29,370	$	15,324	$	546	$	68,250

	Six Months Ended June 30, 2023
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	91,428	$	—	$	11,081	$	1,840	$	104,349
Hospitality revenue		—		69,593		5		—		69,598
Leasing revenue		10		873		23,180		105		24,168
Timber revenue		—		—		3,042		—		3,042
Total revenue	$	91,438	$	70,466	$	37,308	$	1,945	$	201,157
Timing of Revenue Recognition:
Recognized at a point in time	$	91,428	$	54,477	$	14,128	$	1,840	$	161,873
Recognized over time		—		15,116		—		—		15,116
Over lease term		10		873		23,180		105		24,168
Total revenue	$	91,438	$	70,466	$	37,308	$	1,945	$	201,157

	Six Months Ended June 30, 2022
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	55,679	$	—	$	8,117	$	1,005	$	64,801
Hospitality revenue		—		45,548		329		—		45,877
Leasing revenue		46		59		17,999		63		18,167
Timber revenue		—		—		4,276		—		4,276
Total revenue	$	55,725	$	45,607	$	30,721	$	1,068	$	133,121
Timing of Revenue Recognition:
Recognized at a point in time	$	55,679	$	31,991	$	12,722	$	1,005	$	101,397
Recognized over time		—		13,557		—		—		13,557
Over lease term		46		59		17,999		63		18,167
Total revenue	$	55,725	$	45,607	$	30,721	$	1,068	$	133,121