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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Leasing revenue $ 12,378 $ 9,345 $ 24,168 $ 18,167
Total revenue 128,167 68,250 201,157 133,121
Expenses:        
Corporate and other operating expenses 5,535 5,515 11,256 11,172
Depreciation, depletion and amortization 9,467 5,466 16,789 10,492
Total expenses 86,336 49,445 148,023 94,092
Operating income 41,831 18,805 53,134 39,029
Other income (expense):        
Investment income, net 3,183 2,496 6,104 4,796
Interest expense (7,207) (4,071) (13,416) (8,224)
Gain on contributions to unconsolidated joint ventures 27 89 557 571
Equity in income from unconsolidated joint ventures 6,038 1,430 9,700 934
Other income, net 1,467 4,285 2,181 3,917
Total other income, net 3,508 4,229 5,126 1,994
Income before income taxes 45,339 23,034 58,260 41,023
Income tax expense (11,503) (5,945) (14,944) (10,480)
Net income 33,836 17,089 43,316 30,543
Net loss (income) attributable to non-controlling interest 891 (50) 1,801 (92)
Net income attributable to the Company $ 34,727 $ 17,039 $ 45,117 $ 30,451
NET INCOME PER SHARE ATTRIBUTABLE TO THE COMPANY        
Basic (in dollars per share) $ 0.60 $ 0.29 $ 0.77 $ 0.52
Diluted (in dollars per share) $ 0.60 $ 0.29 $ 0.77 $ 0.52
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 58,314,117 58,882,392 58,311,619 58,882,470
Diluted (in shares) 58,317,520 58,887,440 58,313,320 58,885,046
Real Estate        
Revenue:        
Revenue $ 69,345 $ 28,027 $ 104,349 $ 64,801
Expenses:        
Cost of revenue 31,263 12,800 51,445 28,095
Hospitality        
Revenue:        
Revenue 45,099 29,556 69,598 45,877
Expenses:        
Cost of revenue 33,321 21,411 56,248 36,279
Leasing        
Expenses:        
Cost of revenue 6,542 3,998 11,914 7,650
Timber        
Revenue:        
Revenue 1,345 1,322 3,042 4,276
Expenses:        
Cost of revenue $ 208 $ 255 $ 371 $ 404