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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 8,307 $ 5,689 $ 16,516 $ 13,095
Costs and expenses:        
Total costs and expenses 12,362 9,237 24,737 20,627
Operating loss (4,055) (3,548) (8,221) (7,532)
Other income:        
Investment income 226 630 572 1,315
Other loss, net (4) (71) (80) (141)
Total other income, net 222 559 492 1,174
Loss before equity in earnings of unconsolidated joint ventures and income tax benefit (3,833) (2,989) (7,729) (6,358)
Equity in earnings of unconsolidated joint ventures, net 2,555 2,769 3,713 4,282
Loss before income tax benefit (1,278) (220) (4,016) (2,076)
Income tax expense (benefit) 435 (1,176) (837) (2,118)
Net (loss) income (1,713) 956 (3,179) 42
Net loss attributable to non-controlling interest (1) (1) (3) (1)
Net (loss) income attributable to common stockholders $ (1,712) $ 957 $ (3,176) $ 43
Net (loss) income per share attributable to common stockholders, basic, (in dollars per share) $ (0.06) $ 0.04 $ (0.12) $ 0.00
Net (loss) income per share attributable to common stockholders, diluted (in dollars per share) $ (0.06) $ 0.04 $ (0.12) $ 0.00
Operating Segments        
Revenues:        
Total revenues $ 8,307 $ 5,689 $ 16,516 $ 13,095
Operating Segments | Real estate - commercial/industrial        
Revenues:        
Total revenues 5,107 2,550 7,861 5,495
Costs and expenses:        
Total costs and expenses 3,536 1,990 5,383 3,917
Other income:        
Equity in earnings of unconsolidated joint ventures, net 2,555 2,769 3,713 4,282
Operating Segments | Real estate - resort/residential        
Costs and expenses:        
Total costs and expenses 304 427 690 1,988
Operating Segments | Mineral resources        
Revenues:        
Total revenues 1,510 2,032 4,105 4,521
Costs and expenses:        
Total costs and expenses 790 1,115 2,875 3,231
Operating loss 720 917 1,230 1,290
Operating Segments | Farming        
Revenues:        
Total revenues 607 142 2,163 1,007
Costs and expenses:        
Total costs and expenses 1,497 1,087 4,045 3,154
Operating loss (890) (945) (1,882) (2,147)
Operating Segments | Ranch operations        
Revenues:        
Total revenues 1,083 965 2,387 2,072
Costs and expenses:        
Total costs and expenses 1,335 1,261 2,608 2,488
Operating loss (252) (296) (221) (416)
Corporate expenses        
Costs and expenses:        
Total costs and expenses $ 4,900 $ 3,357 $ 9,136 $ 5,849