Business Segments (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Operating Results and Certain Other Financial Data for Business Segments

Operating results and certain other financial data for the Company’s business segments are as follows (in thousands):

	Three Months ended				Nine Months ended
	September 30,				September 30,
	2024		2023		2024		2023
Revenues:
Industrial and commercial	$	1,455	1,442		$	4,353	3,932
Mining royalty lands	3,199		3,082		9,393		9,628
Development	297		434		905		1,387
Multifamily	5,682		5,633		16,592		16,454
	$	10,633	10,591		$	31,243	31,401
Operating profit (loss):
Before general and administrative expenses:
Industrial and commercial	$	842	838		$	2,484	2,251
Mining royalty lands	2,946		2,745		8,655		8,781
Development	25		221		102		445
Multifamily	1,559		1,040		4,427		3,190
Operating profit before G&A	5,372		4,844		15,668		14,667
Total general and administrative expenses	2,289		1,948		6,883		6,150
	$	3,083	2,896		$	8,785	8,517
Interest expense	$	742	$	1,116	$	2,482	3,251
Depreciation, depletion and amortization:
Industrial and commercial	$	360	369		$	1,083	1,006
Mining royalty lands	163		138		471		472
Development	43		44		128		140
Multifamily	1,985		2,265		5,947		6,797
	$	2,551	2,816		$	7,629	8,415
Capital expenditures:
Industrial and commercial	$	235	12		$	628	557
Mining royalty lands	18		—		60		—
Development	34,265		2,179		46,146		3,640
Multifamily	53		258		255		437
	$	34,571	2,449		$	47,089	4,634

Schedule of Identifiable Net Assets

Identifiable net assets	September 30, 2024		December 31, 2023
Industrial and commercial	$	38,117	38,784
Mining royalty lands	47,733		48,072
Development	142,269		212,384
Multifamily	351,637		249,750
Cash items	145,662		158,415
Unallocated corporate assets	1,500		1,761
	$	726,918	709,166