Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies

Schedule of computation of basic and diluted earnings per share

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(Dollars in thousands except per share amounts)
Income
Net income attributable to the Company	$	24,518	$	34,727	$	38,433	$	45,117
Shares
Weighted average shares outstanding - basic		58,331,818		58,314,117		58,326,153		58,311,619
Incremental shares from restricted stock		15,065		3,403		17,956		1,701
Weighted average shares outstanding - diluted		58,346,883		58,317,520		58,344,109		58,313,320
Net income per share attributable to the Company
Basic income per share	$	0.42	$	0.60	$	0.66	$	0.77
Diluted income per share	$	0.42	$	0.60	$	0.66	$	0.77

Schedule of revenue disaggregated by segment, good or service and timing

	Three Months Ended June 30, 2024
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	31,705	$	—	$	1,765	$	1,063	$	34,533
Hospitality revenue		—		62,321		—		—		62,321
Leasing revenue		26		928		13,620		178		14,752
Total revenue	$	31,731	$	63,249	$	15,385	$	1,241	$	111,606
Timing of Revenue Recognition:
Recognized at a point in time	$	31,705	$	49,313	$	1,765	$	1,063	$	83,846
Recognized over time		—		13,008		—		—		13,008
Over lease term		26		928		13,620		178		14,752
Total revenue	$	31,731	$	63,249	$	15,385	$	1,241	$	111,606

	Three Months Ended June 30, 2023
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	63,403	$	—	$	6,512	$	775	$	70,690
Hospitality revenue		—		45,095		4		—		45,099
Leasing revenue		5		516		11,785		72		12,378
Total revenue	$	63,408	$	45,611	$	18,301	$	847	$	128,167
Timing of Revenue Recognition:
Recognized at a point in time	$	63,403	$	37,077	$	6,516	$	775	$	107,771
Recognized over time		—		8,018		—		—		8,018
Over lease term		5		516		11,785		72		12,378
Total revenue	$	63,408	$	45,611	$	18,301	$	847	$	128,167

	Six Months Ended June 30, 2024
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	62,463	$	—	$	4,391	$	1,867	$	68,721
Hospitality revenue		—		101,577		—		—		101,577
Leasing revenue		83		1,704		27,102		205		29,094
Total revenue	$	62,546	$	103,281	$	31,493	$	2,072	$	199,392
Timing of Revenue Recognition:
Recognized at a point in time	$	62,463	$	75,703	$	4,391	$	1,867	$	144,424
Recognized over time		—		25,874		—		—		25,874
Over lease term		83		1,704		27,102		205		29,094
Total revenue	$	62,546	$	103,281	$	31,493	$	2,072	$	199,392

	Six Months Ended June 30, 2023
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	91,428	$	—	$	14,123	$	1,840	$	107,391
Hospitality revenue		—		69,593		5		—		69,598
Leasing revenue		10		873		23,180		105		24,168
Total revenue	$	91,438	$	70,466	$	37,308	$	1,945	$	201,157
Timing of Revenue Recognition:
Recognized at a point in time	$	91,428	$	54,477	$	14,128	$	1,840	$	161,873
Recognized over time		—		15,116		—		—		15,116
Over lease term		10		873		23,180		105		24,168
Total revenue	$	91,438	$	70,466	$	37,308	$	1,945	$	201,157