Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Land, at cost	$ 645,592	$ 869,848
Grain facilities	7,714	12,222
Groundwater	11,033	11,472
Irrigation improvements	28,890	41,988
Drainage improvements	8,243	10,315
Permanent plantings	42,461	39,620
Other	3,983	4,696
Construction in progress	1,484	4,453
Real estate, at cost	749,400	994,614
Less accumulated depreciation	(31,557)	(33,083)
Total real estate, net	717,843	961,531
Deposits		426
Cash and cash equivalents	78,441	5,489
Assets held for sale	61	28
Loans and financing receivables, net	55,305	31,020
Right of use asset	194	399
Accounts receivable, net	3,199	7,743
Derivative asset	498	1,707
Inventory	2,659	2,335
Equity method investments	4,101	4,136
Intangible assets, net	1,374	2,035
Goodwill	2,706	2,706
Prepaid and other assets	2,179	2,447
TOTAL ASSETS	868,560	1,022,002
LIABILITIES
Mortgage notes and bonds payable, net	203,683	360,859
Lease liability	194	399
Dividends payable	57,253	13,286
Accrued interest	3,062	4,747
Accrued property taxes	1,650	1,898
Deferred revenue	65	2,149
Accrued expenses	6,096	7,854
Total liabilities	272,003	391,192
Commitments and contingencies (See Note 8)
Redeemable non-controlling interest in operating partnership, Series A preferred units	101,970	101,970
EQUITY
Common stock, $0.01 par value, 500,000,000 shares authorized; 45,931,827 shares issued and outstanding at December 31, 2024, and 48,002,716 shares issued and outstanding at December 31, 2023	459	482
Additional paid in capital	551,994	577,237
Retained earnings	88,352	31,411
Cumulative dividends	(160,406)	(95,939)
Other comprehensive income	1,512	2,691
Non-controlling interests in operating partnership	12,676	12,958
Total equity	494,587	528,840
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS IN OPERATING PARTNERSHIP AND EQUITY	$ 868,560	$ 1,022,002