v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 14,259 $ 8,307 $ 23,762 $ 16,516
Costs and expenses:        
Total costs and expenses 13,911 12,362 24,545 24,737
Operating income (loss) 348 (4,055) (783) (8,221)
Other income:        
Investment income 111 226 253 572
Other loss, net (82) (4) (174) (80)
Total other income, net 29 222 79 492
Income (loss) before equity in earnings of unconsolidated joint ventures and income tax expense (benefit) 377 (3,833) (704) (7,729)
Equity in earnings of unconsolidated joint ventures, net 3,100 2,555 4,390 3,713
Income (loss) before income tax expense (benefit) 3,477 (1,278) 3,686 (4,016)
Income tax expense (benefit) 843 435 902 (837)
Net income (loss) 2,634 (1,713) 2,784 (3,179)
Net loss attributable to non-controlling interest (1) (1) (2) (3)
Net income (loss) attributable to common stockholders $ 2,635 $ (1,712) $ 2,786 $ (3,176)
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 0.10 $ (0.06) $ 0.10 $ (0.12)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.10 $ (0.06) $ 0.10 $ (0.12)
Operating Segments        
Revenues:        
Total revenues $ 14,259 $ 8,307 $ 23,762 $ 16,516
Operating Segments | Real estate - commercial/industrial        
Revenues:        
Total revenues 9,663 5,092 12,425 7,846
Costs and expenses:        
Total costs and expenses 6,212 3,215 7,890 4,871
Other income:        
Equity in earnings of unconsolidated joint ventures, net 3,100 2,555 4,390  
Operating Segments | Multifamily        
Revenues:        
Total revenues 857 15 1,553 15
Costs and expenses:        
Total costs and expenses 1,028 321 2,052 512
Operating income (loss) 345 (166) 534 (357)
Operating Segments | Mineral resources        
Revenues:        
Total revenues 1,789 1,510 5,322 4,105
Costs and expenses:        
Total costs and expenses 890 790 3,378 2,875
Operating income (loss) 899 720 1,944 1,230
Operating Segments | Farming        
Revenues:        
Total revenues 750 607 1,645 2,163
Costs and expenses:        
Total costs and expenses 1,286 1,497 3,275 4,045
Operating income (loss) (536) (890) (1,630) (1,882)
Operating Segments | Ranch operations        
Revenues:        
Total revenues 1,200 1,083 2,817 2,387
Costs and expenses:        
Total costs and expenses 1,293 1,335 2,506 2,608
Operating income (loss) (93) (252) 311 (221)
Operating Segments | Real estate - resort/residential        
Costs and expenses:        
Total costs and expenses 363 304 719 690
Operating income (loss) (363) (304) (719) (690)
Corporate expenses        
Costs and expenses:        
Total costs and expenses $ 2,839 $ 4,900 $ 4,725 $ 9,136