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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue:      
Leasing revenue $ 60,316 $ 50,836 $ 39,196
Total revenue 402,737 389,285 252,321
Expenses:      
Cost of revenue 235,516 235,979 145,898
Corporate and other operating expenses 25,250 23,797 22,068
Depreciation, depletion and amortization 46,385 38,776 22,888
Total expenses 307,151 298,552 190,854
Operating income 95,586 90,733 61,467
Other income (expense):      
Investment income, net 13,504 13,282 9,862
Interest expense (33,584) (30,618) (18,383)
Gain on contributions to unconsolidated joint ventures 10 718 2,738
Equity in income from unconsolidated joint ventures 23,578 22,701 25,986
Other (expense) income, net (746) 3,245 12,947
Total other income, net 2,762 9,328 33,150
Income before income taxes 98,348 100,061 94,617
Income tax expense (25,952) (26,009) (24,389)
Net income 72,396 74,052 70,228
Net loss attributable to non-controlling interest 1,793 3,660 699
Net income attributable to the Company $ 74,189 $ 77,712 $ 70,927
NET INCOME PER SHARE ATTRIBUTABLE TO THE COMPANY      
Basic (in dollars per share) $ 1.27 $ 1.33 $ 1.21
Diluted (in dollars per share) $ 1.27 $ 1.33 $ 1.21
WEIGHTED AVERAGE SHARES OUTSTANDING      
Basic (in shares) 58,326,286 58,312,878 58,720,050
Diluted (in shares) 58,346,726 58,324,254 58,721,338
Real Estate      
Revenue:      
Revenue $ 143,179 $ 186,008 $ 115,865
Expenses:      
Cost of revenue 70,323 87,966 50,791
Hospitality      
Revenue:      
Revenue 199,242 152,441 97,260
Expenses:      
Cost of revenue 136,386 122,185 77,518
Leasing      
Expenses:      
Cost of revenue $ 28,807 $ 25,828 $ 17,589