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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Costs and Expenses:        
Total expenses $ 10,172 $ 20,487 $ 29,919 $ 47,882
Operating income (loss) 37 10,988 (1,347) 13,882
Other Income:        
Investment income 700 204 1,775 300
Other (loss) income, net (30) 211 272 1,038
Total other income 670 415 2,047 1,338
Income from operations before equity in earnings of unconsolidated joint ventures 707 11,403 700 15,220
Equity in earnings of unconsolidated joint ventures, net 1,161 1,991 4,616 4,867
Income before income tax expense 1,868 13,394 5,316 20,087
Income tax expense 2,215 3,221 3,619 6,262
Net (loss) income (347) 10,173 1,697 13,825
Net (loss) income attributable to non-controlling interest (6) (11) (3) 1
Net (loss) income attributable to common stockholders $ (341) $ 10,184 $ 1,700 $ 13,824
Net (loss) income per share attributable to common stockholders, basic (in dollars per share) $ (0.01) $ 0.38 $ 0.06 $ 0.52
Net (loss) income per share attributable to common stockholders, diluted (in dollars per share) $ (0.01) $ 0.38 $ 0.06 $ 0.52
Operating Segments        
Revenues:        
Total revenues $ 10,209 $ 31,475 $ 28,572 $ 61,764
Operating Segments | Real estate - commercial/industrial        
Revenues:        
Total revenues 3,397 22,352 8,706 32,163
Costs and Expenses:        
Total expenses 2,137 6,845 5,517 11,403
Other Income:        
Equity in earnings of unconsolidated joint ventures, net 1,161 1,991 4,616 4,867
Operating Segments | Real estate - resort/residential        
Costs and Expenses:        
Total expenses 367 372 1,079 1,218
Operating Segments | Mineral resources        
Revenues:        
Total revenues 3,118 3,139 11,630 19,238
Costs and Expenses:        
Total expenses 2,000 1,745 6,991 11,347
Operating income (loss) 1,118 1,394 4,639 7,891
Operating Segments | Farming        
Revenues:        
Total revenues 2,642 4,776 4,852 7,352
Costs and Expenses:        
Total expenses 2,157 8,752 5,644 13,976
Operating income (loss) 485 (3,976) (792) (6,624)
Operating Segments | Ranch operations        
Revenues:        
Total revenues 1,052 1,208 3,384 3,011
Costs and Expenses:        
Total expenses 1,196 1,143 3,864 3,708
Operating income (loss) (144) 65 (480) (697)
Corporate expenses        
Costs and Expenses:        
Total expenses $ 2,315 $ 1,630 $ 6,824 $ 6,230