Business Segments (Tables)

9 Months Ended

Sep. 30, 2025

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,
	2025		2024		2025		2024
Revenues:
Industrial and commercial	$	1,229	1,455		$	3,950	4,353
Mining royalty lands	3,689		3,199		10,532		9,393
Development	301		297		902		905
Multifamily	5,556		5,682		16,547		16,592
	$	10,775	10,633		$	31,931	31,243
Operating profit (loss):
Before general and administrative expenses:
Industrial and commercial	$	341	842		$	1,427	2,484
Mining royalty lands	3,384		2,946		9,689		8,655
Development	(1,189)		25		(1,802)		102
Multifamily	1,155		1,559		3,821		4,427
Operating profit before G&A	3,691		5,372		13,135		15,668
Total general and administrative expenses	2,328		2,289		7,790		6,883
	$	1,363	3,083		$	5,345	8,785
Interest expense	$	739	$	742	$	2,258	2,482
Depreciation, depletion and amortization:
Industrial and commercial	$	567	360		$	1,529	1,083
Mining royalty lands	213		163		568		471
Development	43		43		129		128
Multifamily	2,002		1,985		5,932		5,947
	$	2,825	2,551		$	8,158	7,629
Capital expenditures:
Industrial and commercial	$	129	235		$	267	628
Mining royalty lands	297		18		525		60
Development	24,523		34,265		32,697		46,146
Multifamily	44		53		665		255
	$	24,993	34,571		$	34,154	47,089

Schedule of Identifiable Net Assets

Identifiable net assets	September 30, 2025		December 31, 2024
Industrial and commercial	$	62,534	37,527
Mining royalty lands	47,828		47,527
Development	149,038		144,832
Multifamily	333,268		347,172
Cash items	135,819		149,935
Unallocated corporate assets	2,773		1,492
	$	731,260	728,485