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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Total revenues $ 41,886 $ 44,739 $ 79,217
Costs and expenses:      
Total expenses 51,084 48,438 65,488
Operating (loss) income (9,198) (3,699) 13,729
Other income:      
Investment income 2,273 2,557 634
Other (loss) income, net (292) (138) 1,088
Total other income, net 1,981 2,419 1,722
(Loss) income from operations before equity in earnings of unconsolidated joint ventures and income tax expense (7,217) (1,280) 15,451
Equity in earnings of unconsolidated joint ventures, net 10,881 6,868 7,752
Income before income taxes 3,664 5,588 23,203
Income tax expense 976 2,323 7,393
Net income 2,688 3,265 15,810
Net (loss) income attributable to non-controlling interest (2) 0 2
Net income attributable to common stockholders $ 2,690 $ 3,265 $ 15,808
Net income per share attributable to common stockholders, basic (in dollars per share) $ 0.10 $ 0.12 $ 0.60
Net income per share attributable to common stockholders, diluted (in dollars per share) $ 0.10 $ 0.12 $ 0.59
Operating Segments      
Revenues:      
Total revenues $ 41,886 $ 44,739 $ 79,217
Operating Segments | Real estate - commercial/industrial      
Revenues:      
Total revenues 12,552 11,758 40,515
Costs and expenses:      
Total expenses 7,910 8,053 16,356
Other income:      
Equity in earnings of unconsolidated joint ventures, net 10,881 6,868 7,752
Operating Segments | Real estate - resort/residential      
Costs and expenses:      
Total expenses 2,615 1,528 1,629
Operating Segments | Mineral resources      
Revenues:      
Total revenues 10,214 14,524 21,595
Costs and expenses:      
Total expenses 7,052 8,685 12,969
Operating (loss) income 3,162 5,839 8,626
Operating Segments | Farming      
Revenues:      
Total revenues 13,925 13,950 13,001
Costs and expenses:      
Total expenses 17,551 15,257 19,811
Operating (loss) income (3,626) (1,307) (6,810)
Operating Segments | Ranch operations      
Revenues:      
Total revenues 5,195 4,507 4,106
Costs and expenses:      
Total expenses 4,864 5,043 5,024
Operating (loss) income 331 (536) (918)
Corporate expenses      
Costs and expenses:      
Total expenses $ 11,092 $ 9,872 $ 9,699