v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Leasing revenue $ 16,508 $ 14,752 $ 32,750 $ 29,094
Total revenue 129,082 111,606 223,279 199,392
Expenses:        
Cost of revenue 73,694 61,835 132,287 115,386
Corporate and other operating expenses 6,442 5,847 13,022 12,948
Depreciation, depletion and amortization 11,986 11,295 24,117 22,477
Total expenses 92,122 78,977 169,426 150,811
Operating income 36,960 32,629 53,853 48,581
Other income (expense):        
Investment income, net 3,202 3,406 6,630 6,847
Interest expense (7,760) (8,519) (15,535) (17,072)
Gain on contributions to unconsolidated joint ventures 0 0   11
Equity in income from unconsolidated joint ventures 7,547 5,411 17,705 12,771
Other expense, net (226) (102) (454) (562)
Total other income, net 2,763 196 8,346 1,995
Income before income taxes 39,723 32,825 62,199 50,576
Income tax expense (9,949) (8,301) (15,757) (12,950)
Net income 29,774 24,524 46,442 37,626
Net (income) loss attributable to non-controlling interest (250) (6) 543 807
Net income attributable to the Company $ 29,524 $ 24,518 $ 46,985 $ 38,433
NET INCOME PER SHARE ATTRIBUTABLE TO THE COMPANY        
Basic (in dollars per share) $ 0.51 $ 0.42 $ 0.81 $ 0.66
Diluted (in dollars per share) $ 0.51 $ 0.42 $ 0.81 $ 0.66
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 58,057,268 58,331,818 58,150,138 58,326,153
Diluted (in shares) 58,062,291 58,346,883 58,159,589 58,344,109
Real Estate        
Revenue:        
Revenue $ 43,828 $ 34,533 $ 82,147 $ 68,721
Expenses:        
Cost of revenue 23,804 16,644 42,643 32,676
Hospitality        
Revenue:        
Revenue 68,746 62,321 108,382 101,577
Expenses:        
Cost of revenue 42,251 37,874 74,655 68,218
Leasing        
Expenses:        
Cost of revenue $ 7,639 $ 7,317 $ 14,989 $ 14,492