v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Land, at cost $ 552,060 $ 565,002
Grain facilities 7,249 7,476
Groundwater 8,858 8,858
Irrigation improvements 22,240 22,741
Drainage improvements 6,385 6,401
Permanent plantings 27,683 28,049
Other 3,222 3,334
Construction in progress 1,378 1,190
Real estate, at cost 629,075 643,051
Less accumulated depreciation (27,944) (26,783)
Total real estate, net 601,131 616,268
Cash and cash equivalents 11,419 9,293
Loans and financing receivables, net 76,388 80,232
Right of use asset, net 429 169
Accounts receivable, net 2,860 4,408
Derivative asset   141
Inventory 2,964 2,316
Equity method investments 3,880 4,245
Prepaid and other assets 729 1,993
TOTAL ASSETS 699,800 719,065
LIABILITIES    
Mortgage notes and bonds payable, net 223,885 160,842
Lease liability 429 169
Dividends payable 4,053 11,483
Accrued interest 2,302 2,116
Accrued property taxes 1,318 1,411
Deferred revenue 1,635 1,243
Accrued expenses 3,066 3,831
Total liabilities 236,688 181,095
Commitments and contingencies (See Note 8)
Redeemable non-controlling interest in operating partnership, Series A preferred units   70,583
EQUITY    
Common stock, $0.01 par value, 500,000,000 shares authorized; 43,628,639 shares issued and outstanding at June 30, 2026, and 43,093,127 shares issued and outstanding at December 31, 2025 436 431
Additional paid in capital 526,217 520,899
Retained earnings 120,860 117,314
Cumulative dividends (187,509) (179,641)
Other comprehensive income   350
Non-controlling interests in operating partnership 3,108 8,034
Total equity 463,112 467,387
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS IN OPERATING PARTNERSHIP AND EQUITY $ 699,800 $ 719,065