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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES:        
Real estate $ 18,467 $ 21,116 $ 37,630 $ 38,082
Financial fund management 7,543 6,167 14,272 13,042
Commercial finance 129 2 205 0
Total revenues 26,139 27,285 52,107 51,124
COSTS AND EXPENSES:        
Real estate 10,204 12,082 21,222 23,581
Financial fund management 4,825 3,238 8,505 6,301
Commercial finance 400 458 792 1,037
Transaction costs 4,040 0 4,040 0
General and administrative 4,452 4,181 9,335 7,478
Provision for credit losses (102) 276 7 678
Depreciation and amortization 506 515 1,010 972
Total expenses 24,325 20,750 44,911 40,047
OPERATING INCOME (LOSS) 1,814 6,535 7,196 11,077
OTHER INCOME (EXPENSE):        
Gain (loss) on sale of investment securities, net 134 0 632 0
Impairment on investments in available for sale securities (803) (4,346) (901) (4,346)
Interest expense (434) (455) (874) (876)
Other income (expense), net 369 689 876 1,003
Total other income (expense) (734) (4,112) (267) (4,219)
Income (loss) from continuing operations before taxes 1,080 2,423 6,929 6,858
Income tax provision (benefit) (130) 857 2,316 2,101
Net income (loss) 1,210 1,566 4,613 4,757
Net (income) loss attributable to noncontrolling interests (1,482) (1,365) (1,848) (3,022)
Net income (loss) attributable to common shareholders $ (272) $ 201 $ 2,765 $ 1,735
Basic earnings (loss) per share:        
Net income (in dollars per share) $ (0.01) $ 0.01 $ 0.13 $ 0.08
Weighted average shares outstanding (in shares) 20,835 22,867 20,722 22,915
Diluted earnings (loss) per share:        
Net income (loss) (in dollars per share) $ (0.01) $ 0.01 $ 0.13 $ 0.08
Weighted average shares outstanding (in shares) 20,835 23,135 21,005 23,186