XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.3
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Total revenues $ 11,969 $ 10,856 $ 28,485 $ 23,951
Costs and expenses:        
Total costs and expenses 13,993 14,648 38,730 35,275
Operating loss (2,024) (3,792) (10,245) (11,324)
Other income:        
Investment income 177 528 749 1,843
Other loss, net (9) (69) (89) (210)
Total other income, net 168 459 660 1,633
Loss before equity in earnings of unconsolidated joint ventures and income tax benefit (1,856) (3,333) (9,585) (9,691)
Equity in earnings of unconsolidated joint ventures, net 2,555 3,329 6,268 7,611
Income (loss) before income tax benefit 699 (4) (3,317) (2,080)
Income tax (benefit) expense (972) 1,832 (1,809) (286)
Net income (loss) 1,671 (1,836) (1,508) (1,794)
Net income (loss) attributable to non-controlling interest 1 0 (2) (1)
Net income (loss) attributable to common stockholders $ 1,670 $ (1,836) $ (1,506) $ (1,793)
Net income (loss) per share attributable to common stockholders, basic, (in dollars per share) $ 0.06 $ (0.07) $ (0.06) $ (0.07)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.06 $ (0.07) $ (0.06) $ (0.07)
Operating Segments        
Revenues:        
Total revenues $ 11,969 $ 10,856 $ 28,485 $ 23,951
Operating Segments | Real estate - commercial/industrial        
Revenues:        
Total revenues 3,124 3,002 10,985 8,497
Costs and expenses:        
Total costs and expenses 2,148 2,088 7,531 6,005
Other income:        
Equity in earnings of unconsolidated joint ventures, net 2,555 3,329 6,268 7,611
Operating Segments | Real estate - resort/residential        
Costs and expenses:        
Total costs and expenses 318 328 1,008 2,316
Operating Segments | Mineral resources        
Revenues:        
Total revenues 3,172 3,166 7,277 7,687
Costs and expenses:        
Total costs and expenses 2,121 1,812 4,996 5,043
Operating loss 1,051 1,354 2,281 2,644
Operating Segments | Farming        
Revenues:        
Total revenues 4,335 3,242 6,498 4,249
Costs and expenses:        
Total costs and expenses 5,362 6,252 9,407 9,406
Operating loss (1,027) (3,010) (2,909) (5,157)
Operating Segments | Ranch operations        
Revenues:        
Total revenues 1,338 1,446 3,725 3,518
Costs and expenses:        
Total costs and expenses 1,176 1,223 3,784 3,711
Operating loss 162 223 (59) (193)
Corporate expenses        
Costs and expenses:        
Total costs and expenses $ 2,868 $ 2,945 $ 12,004 $ 8,794