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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Costs and Expenses:        
Total expenses $ 20,487 $ 16,177 $ 47,882 $ 42,398
Operating income (loss) 10,988 (1,215) 13,882 256
Other Income:        
Investment income 204 5 300 21
Other income, net 211 24 1,038 131
Total other income 415 29 1,338 152
Income (loss) from operations before equity in earnings of unconsolidated joint ventures 11,403 (1,186) 15,220 408
Equity in earnings of unconsolidated joint ventures, net 1,991 1,510 4,867 2,816
Income before income tax expense 13,394 324 20,087 3,224
Income tax expense 3,221 98 6,262 1,237
Net income 10,173 226 13,825 1,987
Net (loss) income attributable to non-controlling interest (11) 7 1 1
Net income attributable to common stockholders $ 10,184 $ 219 $ 13,824 $ 1,986
Net (loss) income per share attributable to common stockholders, basic (in dollars per share) $ 0.38 $ 0.01 $ 0.52 $ 0.08
Net (loss) income per share attributable to common stockholders, diluted (in dollars per share) $ 0.38 $ 0.01 $ 0.52 $ 0.08
Operating Segments        
Revenues:        
Total revenues $ 31,475 $ 14,962 $ 61,764 $ 42,654
Operating Segments | Real estate - commercial/industrial        
Revenues:        
Total revenues 22,352 2,466 32,163 12,820
Costs and Expenses:        
Total expenses 6,845 2,331 11,403 8,595
Other Income:        
Equity in earnings of unconsolidated joint ventures, net 1,991 1,510 4,867 2,816
Operating Segments | Real estate - resort/residential        
Costs and Expenses:        
Total expenses 372 322 1,218 1,314
Operating Segments | Mineral resources        
Revenues:        
Total revenues 3,139 4,774 19,238 19,354
Costs and Expenses:        
Total expenses 1,745 3,025 11,347 12,325
Operating income (loss) 1,394 1,749 7,891 7,029
Operating Segments | Farming        
Revenues:        
Total revenues 4,776 6,726 7,352 7,612
Costs and Expenses:        
Total expenses 8,752 7,296 13,976 9,977
Operating income (loss) (3,976) (570) (6,624) (2,365)
Operating Segments | Ranch operations        
Revenues:        
Total revenues 1,208 996 3,011 2,868
Costs and Expenses:        
Total expenses 1,143 1,182 3,708 3,511
Operating income (loss) 65 (186) (697) (643)
Corporate expenses        
Costs and Expenses:        
Total expenses $ 1,630 $ 2,021 $ 6,230 $ 6,676