FRP (FRPH) 10-K 30 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 28, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-36769
Entity Registrant Name	FRP HOLDINGS, INC.
Entity Central Index Key	0000844059
Entity Tax Identification Number	47-2449198
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	200 W. Forsyth St.,
Entity Address, Address Line Two	7th Floor
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32202
City Area Code	(904)
Local Phone Number	396-5733
Title of 12(b) Security	Common Stock, $.10 par value
Trading Symbol	FRPH
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 413,410,236
Entity Common Stock, Shares Outstanding		9,431,994
Auditor Name	Hancock Askew & Co., LLP
Auditor Location	Jacksonville, Florida
Auditor Firm ID	794

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Lease revenue	$ 21,755,000	$ 14,106,000	$ 14,318,000
Mining Royalty and rents	9,465,000	9,477,000	9,438,000
Total Revenues	31,220,000	23,583,000	23,756,000
Cost of operations:
Depreciation, depletion and amortization	12,737,000	5,828,000	5,855,000
Operating expenses	6,219,000	3,333,000	4,134,000
Property taxes	3,751,000	2,826,000	2,941,000
Management company indirect	3,168,000	2,951,000	2,514,000
Corporate expenses (Note 3 Related Party)	3,071,000	3,511,000	2,556,000
Total cost of operations	28,946,000	18,449,000	18,000,000
Total operating profit	2,274,000	5,134,000	5,756,000
Net investment income, including realized gains of $0, $298, and $949, respectively	4,215,000	7,415,000	8,375,000
Interest expense	(2,304,000)	(1,100,000)	(1,054,000)
Equity in loss of joint ventures	(5,754,000)	(5,690,000)	(1,954,000)
Gain on remeasurement of investment in real estate partnership	51,139,000	0	0
Gain on sale of real estate	805,000	9,170,000	661,000
Income from continuing operations before income taxes	50,375,000	14,929,000	11,784,000
Provision for income taxes	10,281,000	3,207,000	2,962,000
Income from continuing operations	40,094,000	11,722,000	8,822,000
Income from discontinued operations, net of tax	0	0	6,856,000
Net income	40,094,000	11,722,000	15,678,000
Gain (loss) attributable to noncontrolling interest	11,879,000	(993,000)	(499,000)
Net income attributable to the Company	$ 28,215,000	$ 12,715,000	$ 16,177,000
Earnings per common share:
Basic	$ 4.29	$ 1.22	$ 0.89
Diluted	4.27	1.22	0.89
Basic	0	0	0.69
Diluted	0	0	0.69
Basic	3.02	1.33	1.64
Diluted	$ 3	$ 1.32	$ 1.63
Number of shares (in thousands) used in computing:
-basic earnings per common share	9,355	9,580	9,883
-diluted earnings per common share	9,397	9,609	9,926

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Realized gains	$ 0	$ 298	$ 949

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Net income	$ 40,094	$ 11,722	$ 15,678
Other comprehensive income (loss) net of tax:
Unrealized (loss) gain on investments, net of income tax effect of $(194),    $(145) and $602	(524)	(391)	1,624
Minimum pension liability, net of income tax effect of $(15), $53 and $0	(38)	143	0
Comprehensive income	39,532	11,474	17,302
Less comp. income attributable to noncontrolling interest	11,879	(993)	(499)
Comprehensive income attributable to the Company	$ 27,653	$ 12,467	$ 17,801

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Income tax effect of unrealized (loss) gain on investments	$ (194)	$ (145)	$ 602
Tax effect on pension liability	$ (15)	$ 53	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Real estate investments at cost:
Land	$ 123,397	$ 91,744
Buildings and improvements	265,278	141,241
Projects under construction	8,668	4,879
Total investments in properties	397,343	237,864
Less accumulated depreciation and depletion	46,678	34,724
Net investments in properties	350,665	203,140
Real estate held for investment, at cost	9,722	9,151
Investments in joint ventures	145,443	167,071
Net real estate investments	505,830	379,362
Cash and cash equivalents	161,521	73,909
Cash held in escrow	752	196
Accounts receivable, net	793	923
Investments available for sale at fair value	4,317	75,609
Federal and state income taxes receivable	1,103	4,621
Unrealized rents	620	531
Deferred costs	2,726	707
Other assets	528	502
Total assets	678,190	536,360
Liabilities:
Secured notes payable	178,409	89,964
Accounts payable and accrued liabilities	6,137	3,635
Other liabilities	1,886	1,886
Deferred revenue	369	542
Deferred income taxes	64,047	56,106
Deferred compensation	1,302	1,242
Tenant security deposits	790	332
Total liabilities	252,940	153,707
Commitments and contingencies
Equity:
Common stock, $.10 par value 25,000,000 shares authorized, 9,411,028 and 9,363,717 shares issued and outstanding, respectively	941	936
Capital in excess of par value	57,617	56,279
Retained earnings	337,752	309,764
Accumulated other comprehensive income, net	113	675
Total shareholders’ equity	396,423	367,654
Noncontrolling interest MRP	28,827	14,999
Total equity	425,250	382,653
Total liabilities and equity	$ 678,190	$ 536,360

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Par value, common stock	$ 0.10	$ 0.10
Common shares, authorized	25,000,000	25,000,000
Common shares, issued	9,411,028	9,363,717
Common shares, outstanding	9,411,028	9,363,717

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 40,094,000	$ 11,722,000	$ 15,678,000
Adjustments to reconcile net income to net cash provided by continuing operating   activities:
Income from discontinued operations, net	0	0	(6,856,000)
Depreciation, depletion and amortization	12,946,000	6,050,000	6,158,000
Deferred income taxes	7,941,000	5,995,000	22,130,000
Gain on remeasurement of invest in real estate partnership	(51,139,000)	0	0
Equity in loss of joint ventures	5,754,000	5,690,000	1,954,000
Gain on sale of equipment and property	(880,000)	(9,184,000)	(674,000)
Stock-based compensation	1,111,000	1,372,000	232,000
Realized (gain) loss on available for sale investments	0	(298,000)	(949,000)
Deferred debt issuance cost write-off	0	902,000	0
Net changes in operating assets and liabilities:
Accounts receivable	837,000	(377,000)	18,000
Deferred costs and other assets	(346,000)	27,000	(1,072,000)
Accounts payable and accrued liabilities	1,888,000	956,000	(350,000)
Income taxes payable and receivable	3,518,000	(5,125,000)	10,358,000
Other long-term liabilities	518,000	883,000	2,138,000
Net cash provided by operating activities of continuing operations	22,242,000	18,613,000	48,765,000
Net cash used in operating activities of discontinued operations	0	0	(1,742,000)
Net cash provided by operating activities	22,242,000	18,613,000	47,023,000
Cash flows from investing activities:
Investments in properties	(16,530,000)	(17,544,000)	(10,434,000)
Investments in joint ventures	(13,436,000)	(12,315,000)	(73,529,000)
Return of capital from investments in joint ventures	22,279,000	0	0
Purchases of investments available for sale	0	(24,584,000)	(86,261,000)
Proceeds from sales of investments available for sale	69,865,000	85,735,000	116,434,000
Cash at consolidation of real estate partnership	3,704,000	0	0
Cash held in escrow	(220,000)	(10,000)	16,000
Proceeds from sale of assets	939,000	19,245,000	8,422,000
Net cash provided by (used in) investment activities of continuing operations	66,601,000	50,527,000	(45,352,000)
Net cash provided by investing activities of discontinued operations	0	0	11,533,000
Net cash provided by (used in) investing activities	66,601,000	50,527,000	(33,819,000)
Cash flows from financing activities:
Proceeds from long-term debt	92,070,000	0	0
Repayment of long-term debt	(90,000,000)	0	0
Debt issue costs	(704,000)	0	0
Distribution to noncontrolling interest	(2,602,000)	(765,000)	(1,392,000)
Repurchase of company stock	(264,000)	(21,312,000)	(8,210,000)
Exercise of employee stock options	269,000	239,000	458,000
Net cash used in financing activities of continuing operations	(1,231,000)	(21,838,000)	(9,144,000)
Net cash used in financing activities of discontinued operations	0	0	0
Net cash used in financing activities	(1,231,000)	(21,838,000)	(9,144,000)
Net increase in cash and cash equivalents	87,612,000	47,302,000	4,060,000
Cash and cash equivalents at beginning of year	73,909,000	26,607,000	22,547,000
Cash and cash equivalents at end of the year	161,521,000	73,909,000	26,607,000
Supplemental disclosures of cash flow information:
Interest, net of capitalized amounts	2,150,000	960,000	914,000
Income taxes (refunded) paid	$ (1,226,000)	$ 2,244,000	$ (26,380,000)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2018	$ 997	$ 58,004	$ 306,307	$ (701)	$ 364,607	$ 18,648	$ 383,255
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2018	9,969,174
Exercise of stock options	$ 2	456	0	0	458	0	458
Exercise of stock options, shares	15,034
Stock option grant compensation	$ 0	112	0	0	112	0	112
Shares granted to Employee	$ 0	50	0	0	50	0	50
Shares granted to Employee	1,012
Shares granted to Directors	$ 0	70	0	0	70	0	70
Shares granted to Directors	1,460
Shares purchased and cancelled	$ (17)	(987)	(7,206)	0	(8,210)	0	(8,210)
Stock Repurchased During Period, Shares	(169,251)
Net income	$ 0	0	16,177	0	16,177	(499)	15,678
Distributions to partners	0	0	0	0	0	(1,392)	(1,392)
Minimum pension liability, net							0
Unrealized loss on investment, net	0	0	0	1,624	1,624	0	1,624
Ending balance, value at Dec. 31, 2019	$ 982	57,705	315,278	923	374,888	16,757	391,645
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2019	9,817,429
Exercise of stock options	$ 1	238	0	0	239	0	239
Exercise of stock options, shares	12,415
Stock option grant compensation	$ 0	92	0	0	92	0	92
Restricted stock compensation	0	250	0	0	250	0	250
Shares granted to Employee	$ 1	529	0	0	530	0	530
Shares granted to Employee	11,448
Shares granted to Directors	$ 1	499	0	0	500	0	500
Shares granted to Directors	12,050
Restricted stock award	$ 2	(2)	0	0	0	0	0
Shares purchased and cancelled	$ (51)	(3,032)	(18,229)	0	(21,312)	0	(21,312)
Stock Repurchased During Period, Shares	(510,145)
Net income	$ 0	0	12,715	0	12,715	(993)	11,722
Distributions to partners	0	0	0	0	0	(765)	(765)
Minimum pension liability, net	0	0	0	143	143	0	143
Unrealized loss on investment, net	$ 0	0	0	(391)	(391)	0	(391)
Restricted stock award, shares	20,520
Ending balance, value at Dec. 31, 2020	$ 936	56,279	309,764	675	367,654	14,999	$ 382,653
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2020	9,363,717						9,363,717
Exercise of stock options	$ 2	267	0	0	269	0	$ 269
Exercise of stock options, shares	15,334
Stock option grant compensation	$ 0	69	0	0	69	0	69
Restricted stock compensation	0	492	0	0	492	0	492
Shares granted to Employee	$ 0	50	0	0	50	0	50
Shares granted to Employee	1,098
Shares granted to Directors	$ 1	499	0	0	500	0	500
Shares granted to Directors	9,105
Restricted stock award	$ 3	(3)	0	0	0	0	0
Shares purchased and cancelled	$ (1)	(36)	(227)	0	(264)	0	(264)
Stock Repurchased During Period, Shares	(6,004)
Contributions from partners	$ 0	0	0	0	0	4,551	4,551
Net income	0	0	28,215	0	28,215	11,879	40,094
Distributions to partners	0	0	0	0	0	(2,602)	(2,602)
Minimum pension liability, net	0	0	0	(38)	(38)	0	(38)
Unrealized loss on investment, net	$ 0	0	0	(524)	(524)	0	(524)
Restricted stock award, shares	27,778
Ending balance, value at Dec. 31, 2021	$ 941	$ 57,617	$ 337,752	$ 113	$ 396,423	$ 28,827	$ 425,250
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2021	9,411,028						9,411,028

Accounting Policies

Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Accounting Policies	1. Accounting Policies ORGANIZATION FRP Holdings, Inc. was incorporated on April 22, 2014 in connection with a corporate reorganization that preceded the Spin-off of Patriot Transportation Holding, Inc. The Company’s predecessor issuer was formed on July 20, 1998. The business of the Company is conducted through our wholly-owned subsidiaries FRP Development Corp., a Maryland corporation (“Development”) and Florida Rock Properties, Inc., a Florida corporation (“Properties”), and the various subsidiaries of each. On May 21, 2018, the Company completed the disposition of 40 three 347.2 million One 11.7 million 11.7 million four CONSOLIDATION Effective July 1, 2017 the Company consolidated the assets (at fair value), liabilities and operating results of our Riverfront Investment Partners I, LLC joint venture (“Dock 79”) which was previously accounted for under the equity method. Subsequent to the July 1, 2017 consolidation, the ownership of Dock 79 attributable to our partner MRP Realty is reflected on our consolidated balance sheet as a noncontrolling interest. In March 2021, Riverfront II, LLC reached stabilization which resulted in a change of control for accounting purposes as the veto rights of the minority shareholder lapsed and the Company became the primary beneficiary. As such, effective March 31, 2021 the Company consolidated the assets (at fair value), liabilities and operating results of our Riverfront Investment Partners II, LLC joint venture (“The Maren”) which was previously accounted for under the equity method. Subsequent to the March 31, 2021 consolidation, the ownership of The Maren attributable to our partner MRP Realty is reflected on our consolidated balance sheet as a noncontrolling interest. Such noncontrolling interests are reported on the Consolidated Balance Sheets within equity but separately from shareholders' equity. On the Consolidated Statements of Income, all of the revenues and expenses from Dock 79 are reported in net income, including both the amounts attributable to the Company and the noncontrolling interest. The Maren is reflected in Equity in loss of joint ventures on the Consolidated Statements of Income for the periods up to March 31, 2021 but is reflected like Dock 79 for periods commencing April 1, 2021. The amounts of consolidated net income attributable to the noncontrolling interest is clearly identified on the accompanying Consolidated Statements of Income. CASH AND CASH EQUIVALENTS INVESTMENTS AVAILABLE FOR SALE no REVENUE AND EXPENSE RECOGNITION Sales of real estate are recognized when the collection of the sales price is reasonably assured and when the Company has fulfilled substantially all of its obligations, which are typically as of the closing date. Accounts receivable are recorded net of discounts and provisions for estimated allowances. We estimate allowances on an ongoing basis by considering historical and current trends. We record estimated bad debts expense as a reduction of lease revenue. We estimate the net collectibility of our accounts receivable and establish an allowance for doubtful accounts based upon this assessment. Specifically, we analyze the aging of accounts receivable balances, historical bad debts, customer concentrations, customer credit-worthiness, current economic trends and changes in customer payment terms. PROPERTY AND EQUIPMENT Years Building and improvements 3-39 Depletion of sand and stone deposits is computed on the basis of units of production in relation to estimated reserves. Reserve estimates are periodically adjusted based upon surveys. The Company recorded depreciation and depletion expenses for fiscal year 2021, 2020 and 2019, of $ 8,806,000 5,766,000 5,784,000 All direct and indirect costs, including interest and real estate taxes, associated with the development, construction, leasing or expansion of real estate investments are capitalized as a cost of the property. Included in indirect costs is an allocation of internal costs associated with development of real estate investments. The cost of routine repairs and maintenance to property and equipment is expensed as incurred. IMPAIRMENT OF LONG-LIVED ASSETS DEVELOPED PROPERTY RENTALS PURCHASE ACCOUNTING · the fair value of leases in-place on the date of acquisition is based on absorption costs for the estimated lease-up period in which vacancy and foregone revenue are avoided due to the presence of the acquired leases; · the fair value of above and below-market in-place leases based on the present value (using a discount rate that reflects the risks associated with the acquired leases) of the difference between contractual rent amounts to be paid under the assumed lease and the estimated market lease rates for the corresponding spaces over the remaining non-cancelable terms of the related leases; and · the fair value of intangible tenant or customer relationships. The Company’s determination of these fair values requires it to estimate market rents for each of the leases and make certain other assumptions. These estimates and assumptions affect the rental revenue, and depreciation and amortization expense recognized for these leases and associated intangible assets and liabilities. INVESTMENTS IN JOINT VENTURES 50% or less excess of 50% INCOME TAXES changes in facts or circumstances, changes in tax law and expiration of statutes of limitations, effectively settled issues under audit, and audit activity. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. It is the Company's policy to recognize as additional income tax expense the items of interest paid and penalties directly related to income taxes. STOCK BASED COMPENSATION DEFERRED COMPENSATION PLAN EARNINGS PER COMMON SHARE USE OF ESTIMATES Certain accounting policies and estimates are of more significance in the financial statement preparation process than others. The most critical accounting policies and estimates include the economic useful lives of our mining reserves, property and equipment, provisions for uncollectible accounts receivable and collectibility of unrealized rents, accounting for real estate investments, estimates of exposures related to our insurance claims plans and environmental liabilities, and estimates for taxes. To the extent that actual, final outcomes are different than these estimates, or that additional facts and circumstances result in a revision to these estimates, earnings during that accounting period will be affected. ENVIRONMENTAL COMPREHENSIVE INCOME RECENTLY ISSUED ACCOUNTING STANDARDS incurred if the lease had not been obtained may be deferred as initial direct costs. The new standard also requires lessors to exclude from variable payments certain lessor costs, such as real estate taxes, that the lessor contractually requires the lessee to pay directly to a third party on its behalf. The new standard requires our expected credit loss related to the collectability of lease receivables to be reflected as an adjustment to the line item Lease Revenue. Additionally, the new standard requires lessors to allocate the consideration in a contract between the lease component (right to use an underlying asset) and non-lease component (transfer of a good or service that is not a lease). However, lessors are provided with a practical expedient, elected by class of underlying asset, to account for lease and non-lease components of a contract as a single lease component if certain criteria are met. The terms of the Company's leases generally provide that the Company is entitled to receive reimbursements from tenants for operating expenses such as real estate taxes, insurance and common area maintenance, in addition to the base rental payments for use of the underlying asset. Under the new standard, common area maintenance is considered a non-lease component of a lease contract, which would be accounted for under Topic 606. However, the Company will apply the practical expedient to account for its lease and non-lease components as a single, combined operating lease component. While the timing of recognition should remain the same, the Company is no longer presenting reimbursement revenue from tenants separately in our Consolidated Statements of Income beginning January 1, 2019. The new standard along with the adoption of ASU No. 2018-11, Leases - Targeted Improvements which the FASB issued in July 2018, was adopted effective January 1, 2019 and we have elected to use January 1, 2019 as our date of initial application. We elected the package of practical expedients permitted under the transition guidance within the new standard. By adopting these practical expedients, we were not required to reassess (1) whether an existing contract meets the definition of a lease; (2) the lease classification for existing leases; or (3) costs previously capitalized as initial direct costs. The adoption of this guidance did not have a material impact on our financial statements.

Investments in Joint Ventures

Investments in Joint Ventures	12 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments in Joint Ventures	2. Investments in Joint Ventures The Company has investments in joint ventures, primarily with other real estate developers. Joint ventures where FRP is not the primary beneficiary are reflected in the line “Investment in joint ventures” on the balance sheet and “Equity in loss of joint ventures” on the income statement. The assets of these joint ventures are restricted to use by the joint ventures and their obligations can only be settled by their assets or additional contributions by the partners. On October 8, 2021 the Company entered into a loan agreement with a Baltimore developer to be the principal capital source of a residential development venture in Harford County, Maryland known as “Aberdeen Station.” We have committed up to $ 31.1 million 10 20 344 The following table summarizes the Company’s Investments in unconsolidated joint ventures The Company's Share of Profit Common Total Total Assets of Profit (Loss) (Loss) of the Ownership Investment The Partnership Of the Partnership Partnership (1) As of December 31, 2021 Brooksville Quarry, LLC 50.00 % $ 7,488 14,301 (82 ) (41 ) BC FRP Realty, LLC 50.00 % 5,530 22,470 (230 ) (115 ) Riverfront Holdings II, LLC (1) — — (760 ) (628 ) Bryant Street Partnerships 61.36 % 59,558 204,082 (6,084 ) (4,954 ) Aberdeen Station Loan 514 514 — — DST Hickory Creek 26.65 % 6,000 46,048 (481 ) 343 Amber Ridge Loan 11,466 11,466 — — 1800 Half St. Owner, LLC 61.37 % 38,693 93,932 12 20 Greenville/Woodfield Partnerships 40.00 % 16,194 87,731 (948 ) (379 ) Total $ 145,443 480,544 (8,573 ) (5,754 ) The Company's Share of Profit Common Total Total Assets of Profit (Loss) (Loss) of the Ownership Investment The Partnership Of the Partnership Partnership (1) As of December 31, 2020 Brooksville Quarry, LLC 50.00 % $ 7,499 14,347 (78 ) (39 ) BC FRP Realty, LLC 50.00 % 5,184 22,747 (411 ) (207 ) Riverfront Holdings II, LLC 80.00 % 23,533 108,538 (4,573 ) (3,907 ) Bryant Street Partnerships 61.36 % 60,159 173,814 (836 ) (2,130 ) Hyde Park 591 591 — — DST Hickory Creek 26.65 % 6,000 47,761 (367 ) 339 Amber Ridge Loan 10,026 10,026 — — 1800 Half St. Owner, LLC 61.37 % 37,875 54,275 158 164 Greenville/Woodfield Partnerships 40.00 % 16,204 46,457 182 90 Total $ 167,071 478,556 (5,925 ) (5,690 ) (1): Riverfront Holdings II, LLC was consolidated on March 31, 2021. Bryant Street Partnerships includes $ 747,000 1,146,000 471,000 471,000 The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2021 are summarized in the following two tables (in thousands): Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2021 As of December 31, 2021 Total Riverfront Bryant Street DST Hickory 1800 Half St. Greenville/ Apartment/ Holdings II, LLC Partnership Creek Partnership Woodfield Mixed Use Investments in real estate, net $ 0 199,730 43,840 93,504 87,421 $ 424,495 Cash and cash equivalents 0 1,123 827 428 279 2,657 Unrealized rents & receivables 0 2,925 1,044 0 5 3,974 Deferred costs 0 304 337 0 26 667 Total Assets $ 0 204,082 46,048 93,932 87,731 $ 431,793 Secured notes payable $ 0 119,201 29,337 18,404 44,309 $ 211,251 Other liabilities 0 9,066 115 14,470 4,462 28,113 Capital - FRP 0 57,555 4,423 37,478 15,584 115,040 Capital – Third Parties 0 18,260 12,173 23,580 23,376 77,389 Total Liabilities and Capital $ 0 204,082 46,048 93,932 87,731 $ 431,793 Investments in Joint Ventures as of December 31, 2021 As of December 31, 2021 Brooksville BC FRP Aberdeen Amber Ridge Apartment/ Grand Quarry, LLC Realty, LLC Loan Loan Mixed Use Total Investments in real estate, net $ 14,281 21,561 514 11,466 424,495 $ 472,317 Cash and cash equivalents 18 312 0 0 2,657 2,987 Unrealized rents & receivables 0 368 0 0 3,974 4,342 Deferred costs 2 229 0 0 667 898 Total Assets $ 14,301 22,470 514 11,466 431,793 $ 480,544 Secured notes payable $ 0 11,384 0 0 211,251 $ 222,635 Other liabilities 0 140 0 0 28,113 28,253 Capital - FRP 7,488 5,473 514 11,466 115,040 139,981 Capital - Third Parties 6,813 5,473 0 0 77,389 89,675 Total Liabilities and Capital $ 14,301 22,470 514 11,466 431,793 $ 480,544 The Company’s capital recorded by the unconsolidated Joint Ventures is $ 5,461,000 The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2020 are summarized in the following two tables (in thousands): Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2020 As of December 31, 2020 Total Riverfront Bryant Street DST Hickory 1800 Half St. Greenville/ Apartment/ Holdings II, LLC Partnership Creek Partnership Woodfield Mixed Use Investments in real estate, net $ 105,737 173,560 45,379 37,452 42,668 $ 404,796 Cash and cash equivalents 2,626 111 1,202 14,011 3,554 21,504 Unrealized rents & receivables 13 58 775 2 0 848 Deferred costs 162 85 405 2,810 235 3,697 Total Assets $ 108,538 173,814 47,761 54,275 46,457 $ 430,845 Secured notes payable $ 64,982 72,471 29,291 0 1,776 $ 168,520 Other liabilities 4,189 22,952 107 1,953 4,774 33,975 Capital - FRP 34,667 58,559 4,894 37,466 15,963 151,549 Capital - Third Parties 4,700 19,832 13,469 14,856 23,944 76,801 Total Liabilities and Capital $ 108,538 173,814 47,761 54,275 46,457 $ 430,845 Investments in Joint Ventures as of December 31, 2020 As of December 31, 2020 Brooksville BC FRP Amber Ridge Apartment/ Grand Quarry, LLC Realty, LLC Hyde Park Loan Mixed Use Total Investments in real estate, net $ 14,287 22,067 591 10,026 404,796 $ 451,767 Cash and cash equivalents 55 90 0 0 21,504 21,649 Unrealized rents & receivables 0 254 0 0 848 1,102 Deferred costs 5 336 0 0 3,697 4,038 Total Assets $ 14,347 22,747 591 10,026 430,845 $ 478,556 Secured notes payable $ 0 12,370 0 0 168,520 $ 180,890 Other liabilities 28 123 0 0 33,975 34,126 Capital - FRP 7,499 5,127 591 10,026 151,549 174,792 Capital - Third Parties 6,820 5,127 0 0 76,801 88,748 Total Liabilities and Capital $ 14,347 22,747 591 10,026 430,845 $ 478,556 The amount of consolidated retained earnings (accumulated deficit) for these joint ventures was $ (8,942,000) (8,278,000) The income statements of the Bryant Street Partnerships Bryant Street Bryant Street Partnerships Partnerships Total JV Company Share Year ended Year ended December 31, December 31, 2021 2021 Revenues: Rental Revenue $ 2,376 $ 1,458 Revenue – other 318 195 Total Revenues 2,694 1,653 Cost of operations: Depreciation and amortization 2,842 1,744 Operating expenses 3,163 1,941 Property taxes 398 244 Total cost of operations 6,403 3,929 Total operating profit (loss) (3,709 ) (2,276 ) Interest expense (2,375 ) (2,678 ) Net loss before tax (6,084 ) (4,954 )

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	3. Related Party Transactions The Company is a party to an Administrative Services Agreement which resulted from our January 30, 2015 spin-off of Patriot Transportation Holding, Inc. (Patriot). The Administrative Services Agreement sets forth the terms on which Patriot will provide to FRP certain services that were shared prior to the Spin-off, including the services of certain employees and executive officers. The boards of the respective companies amended and extended this agreement for one year effective April 1, 2022. The consolidated statements of income reflect charges and/or allocation from Patriot for these services of $ 1,025,000 1,305,000 To determine these allocations between FRP and Patriot as set forth in the Administrative Services Agreement, we employ an allocation method to allocate said expenses and thus we believe that the allocations to FRP are a reasonable approximation of the costs related to FRP’s operations, but any such related-party transactions cannot be presumed to be carried out on an arm’s-length basis.

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	4. Debt Debt December 31, December 31, 2021 2020 Fixed rate mortgage loans, 3.03 $ 180,070 90,000 Unamortized debt issuance costs (1,661 ) (36 ) Credit agreement — — Long term debt $ 178,409 89,964 The aggregate amount of principal payments, excluding the revolving credit, due subsequent to December 31, 2021 is: 2022 - $ 0 0 0 0 180,070,000 On February 6, 2019, the Company entered into a First Amendment to the 2015 Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, N.A. (“Wells Fargo”), effective February 6, 2019. The Credit Agreement modifies the Company’s prior Credit Agreement with Wells Fargo dated January 30, 2015. The Credit Agreement establishes a five 20 million 1.50 1.25 1.0 0.25 0.20 0.15 no 506,000 19,494,000 1 1.10425 246 million On November 17, 2017, Dock 79 borrowed a principal sum of $ 90,000,000 4.125 120 months 900,000 Effective March 31, 2021, the Company consolidated the assets (at current fair value), liabilities and operating results of our Riverfront Investment Partners II, LLC partnership (“The Maren”) which was previously accounted for under the equity method. As such the full amount of our mortgage loan was recorded in the consolidated financial statements. On March 19, 2021, the Company refinanced Dock 79 and The Maren projects pursuant to separate Loan Agreements and Deed of Trust Notes entered into with Teachers Insurance and Annuity Association of America, LLC. Dock 79 and The Maren borrowed principal sums of $ 92,070,000 88,000,000 3.03 Either loan may be prepaid subsequent to April 1, 2024, subject to yield maintenance premiums. Either loan may be transferred to a qualified buyer as part of a one-time sale subject to a 60% loan to value, minimum of 7.5% debt yield and a 0.75% transfer fee Debt cost amortization of $ 150,000 3,783,000 3,762,000 The Company was in compliance with all

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	5. Leases The Company is a lessor of residential apartment homes, retail portions of mixed-use communities, commercial properties, and open pit aggregates quarries. Residential The Company’s residential spaces generally lease for 12 – 15-month lease terms and 90 days prior to the expiration, as long as there is no balance due, the tenant is offered a renewal. If no notice to move out or renew is made, then the leases go to month to month until notification of termination or renewal is received. Renewal terms are typically 9 – 12 months. In 2021, due to the DC legislation in place freezing rent increases as a part of a covid relief plan, FRP was unable to increase rental rates for renewals. This legislation was lifted in February 2022. Retail The Company also leases retail spaces at apartment/mixed-use properties. The retail leases are typically 10 -15-year leases with options to renew for another 5 years. Retail leases at these properties also include percentage rents which average 3-6% of annual sales for the tenant that exceed a breakpoint stipulated by each individual lease. All base rent revenue is recognized on a straight-line basis. Commercial & Office The Company’s industrial warehouses typically lease for terms ranging from 3 – 10 years often with 1 or 2 renewal options. All base rent revenue is recognized on a straight-lined basis. All of the commercial warehouse leases are triple net and common area maintenance costs (CAM Revenue) are billed monthly, and insurance and real estate taxes are billed annually. 34 Loveton is the only office product wherein all leases are full service therefore there is no CAM revenue. Office leases are also recognized on a straight-lined basis. Mining The Company leases land under long-term leases that grant the lessee the right to mine and sell reserves from our property in exchange for royalty payments. A typical lease has an option to extend the lease for additional terms. At December 31, 2021, the total Carrying value of property owned by the Company which is leased or held for lease Construction aggregates property $ 35,076 Commercial property 76,580 Residential/mixed use property 293,821 Carrying Value of property owned by the Company leased or held for lease, gross 405,477 Less accumulated depreciation and depletion 46,270 Carrying Value of property owned by the Company leased or held for lease, net $ 359,207 The minimum future straight-lined rentals due the Company on noncancelable leases as of December 31, 2021 are as follows: 2022 - $ 15,610,000 5,115,000 4,924,000 4,561,000 3,606,000 16,691,000

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings per Share	6. Earnings per Share The following details the computations of the Basic and Diluted Earnings Per Common Share Years Ended December 31 2021 2020 2019 Common shares: Weighted average common shares outstanding during the period – shares used for basic earnings per common share 9,355 9,580 9,883 Common shares issuable under share based payments plans which are potentially dilutive 42 29 43 Common shares used for diluted earnings per common share 9,397 9,609 9,926 Income from continuing operations $ 40,094 11,722 8,822 Discontinued operations $ — — 6,856 Net income attributable to the Company $ 28,215 12,715 16,177 Basic earnings per common share: Income from continuing operations $ 4.29 1.22 0.89 Discontinued operations $ — — 0.69 Net income attributable to the Company $ 3.02 1.33 1.64 Diluted earnings per common share: Income from continuing operations $ 4.27 1.22 0.89 Discontinued operations $ — — 0.69 Net income attributable to the Company $ 3.00 1.32 1.63 For 2021 and 2020, 6,680 53,545 During 2021 the Company repurchased 6,004 43.95 510,145 41.78 169,251 48.51

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	7. Stock-Based Compensation Plans The Company has two ten exercisable immediately or become exercisable in cumulative installments of 20% or 25% The Company utilizes the Black-Scholes valuation model for estimating fair value of stock compensation for options awarded to officers and employees. Each grant is evaluated based upon assumptions at the time of grant. The assumptions were no 29 41 1.0 2.9 3.0 7.0 The dividend yield of zero In January 2021, 8,896 four years 18,882 five years 20,520 five years 403,499 1,098 11,448 The Company recorded the following Stock compensation expense Years Ended December 31, 2021 2020 2019 Stock option grants $ 69 92 112 Restricted stock awards 492 250 — Employee stock grant 50 530 — Unrestricted employee stock award — — 50 Annual director stock award 500 500 70 Stock compensation $ 1,111 1,372 232 A Summary of changes in outstanding options Weighted Weighted Weighted Number Average Average Average of Exercise Remaining Grant Date Options Shares Price Term (yrs) Fair Value(000's) Outstanding at January 1, 2019 147,538 $ 33.48 6.7 $ 1,782 Exercised (15,034 ) $ 30.42 $ (151 ) Outstanding at December 31, 2019 132,504 $ 33.82 5.8 $ 1,631 Exercised (12,415 ) $ 19.23 $ (100 ) Outstanding at December 31, 2020 120,089 $ 35.33 5.3 $ 1,531 Exercised (15,334 ) $ 17.54 $ (115 ) Outstanding at December 31, 2021 104,755 $ 37.93 4.8 $ 1,416 Exercisable at December 31, 2021 96,586 $ 37.26 4.7 $ 1,281 Vested during twelve months ended December 31, 2021 4,179 $ 69 The following table summarizes information concerning stock options outstanding at December 31, 2021: Summary of stock options outstanding Shares Weighted Weighted Range of Exercise under Average Average Prices per Share Option Exercise Price Remaining Life Non-exercisable: $44.31 - $45.97 8,169 $ 45.94 6.9 Years Exercisable: $19.68 - $29.52 20,080 22.66 1.7 $29.53 - $44.30 31,130 35.11 4.0 $44.31 - $45.97 45,376 45.19 6.4 96,586 $ 37.26 4.7 Years Total 104,755 $ 37.93 4.8 Years The aggregate intrinsic value of exercisable in-the-money options was $ 1,984,000 2,081,000 57.80 The unrecognized compensation cost of options granted to FRP employees but not yet vested as of December 31, 2021 was $ 129,000 1.9 years Gains of $ 602,000 A Summary of changes in restricted stock awards Weighted Weighted Weighted Number Average Average Average Of Exercise Remaining Grant Date Restricted stock Shares Price Term (yrs) Fair Value(000's) Non-vested at January 1, 2020 0 $ 0 $ 0 Performance-based awards granted 20,520 46.30 950 Non-vested at December 31, 2020 20,520 $ 46.30 3.4 $ 950 Time-based awards granted 8,896 45.55 405 Performance-based awards granted 18,882 45.55 860 Vested (2,224 ) 45.55 (101 ) Non-vested at December 31, 2021 46,074 $ 45.88 3.1 $ 2,114 Total unrecognized compensation cost of restricted stock granted but not yet vested as of December 31, 2021 was $ 1,259,000 3.4 years

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The Provision for income tax expense included in the financial statements Years Ended December 31, 2021 2020 2019 Included in Net income: Continuing operations $ 10,281 3,207 2,962 Discontinued operations — — 2,542 Income tax expense benefit 10,281 3,207 5,504 Comprehensive income (209 ) (92 ) 602 Total tax expense $ 10,072 3,115 6,106 The Provision for income taxes Year Ended December 31, 2021 2020 2019 Current: Federal $ 305 (2,667 ) (8,225 ) State 1,826 (213 ) (7,799 ) Current income tax expense 2,131 (2,880 ) (16,024 ) Deferred 7,941 5,995 22,130 Total $ 10,072 3,115 6,106 The deferred taxes in 2020 are primarily related to the bonus depreciation on property placed in service. Taxes in 2020 were favorably impacted by $ 1,100,000 35 13,797,000 50 million 4,213,000 55 million 18 million 2 million 16 million As of December 31, 2021 the company has deferred taxes of approximately $ 31 million 112 million These taxes are deferred until the earlier of the sale of the related investments or December 31, 2026 and 10% of gains are excluded from tax once the investments are held five years plus an additional 5% is excluded at seven years A Reconciliation between the amount of tax shown above and the amount computed at the statutory Federal income tax Year Ended December 31 2021 2020 2019 Amount computed at statutory Federal rate $ 7,941 3,226 5,006 State income taxes (net of Federal income tax benefit) 2,634 1,048 1,623 Carryback of net operating loss — (1,100 ) — Other, net (503 ) (59 ) (523 ) Provision for income taxes $ 10,072 3,115 6,106 In this reconciliation, the category “Other, net” consists of permanent tax differences related to non-deductible expenses, special tax rates and tax credits, interest paid and penalties, and adjustments to prior year estimates. The types of temporary differences and their related tax effects that give rise to Deferred tax assets and deferred tax liabilities December 31, 2021 2020 2019 Deferred tax liabilities: Property and equipment $ 38,143 56,314 49,932 Investment in opportunity zone 30,846 — — Depletion 704 708 718 Unrealized rents 58 27 27 Prepaid expenses 36 50 76 Gross deferred tax liabilities 69,787 57,099 50,753 Deferred tax assets: Federal tax loss carryforwards 3,235 — — State tax loss carryforwards 1,388 — — Employee benefits and other 1,117 993 642 Gross deferred tax assets 5,740 993 642 Net deferred tax liability $ 64,047 56,106 50,111 NOL Carryovers Years Ended Other Items - All Gross 12/31/2021 12/31/2020 State NOL Carryovers 23,111,156 3,863,571 Federal NOL Carryovers 15,406,397 — The Company has no unrecognized tax benefits. FRP tax returns in the U.S. and various states that include the Company are subject to audit by taxing authorities. As of December 31, 2021, the earliest tax year that remains open for audit is 2016. Our effective income tax expense may vary, possibly materially, due to projected effective state tax rates.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee Benefits	9. Employee Benefits The Company and certain subsidiaries have a savings/profit sharing plan for the benefit of qualified employees. The savings feature of the plan incorporates the provisions of Section 401(k) of the Internal Revenue Code under which an eligible employee may elect to save a portion (within limits) of their compensation on a tax deferred basis. The Company contributes to a participant’s account an amount equal to 50 49,000 43,000 The Company has a deferred compensation plan, the Management Security Plan (MSP) for our President. The accruals for future benefits are based upon actuarial assumptions. Life insurance on his life has been purchased to partially fund this benefit and the Company is the owner and beneficiary of that policy. The expense for 2021 and 2020, was $ 8,000 2,000 1,302,000 1,252,000

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Business Segments	10. Business Segments The Company is reporting its financial performance based on four The Asset Management segment owns, leases and manages commercial properties. The flex/office warehouses in the Asset Management Segment were sold and reclassified to discontinued operations leaving only two one nd Our Mining Royalty Lands segment owns several properties comprising approximately 15,000 4,280 Through our Development segment, we own and are continuously assessing for their highest and best use for several parcels of land that are in various stages of development. Our overall strategy in this segment is to convert all of our non-income producing lands into income production through (i) an orderly process of constructing new buildings for us to own and operate or (ii) a sale to, or joint venture with, third parties. Additionally, our Development segment will form joint ventures on new developments of land not previously owned by the Company. The Stabilized Joint Venture segment includes joint ventures which own, lease and manage buildings that have met our initial lease up criteria. Two of our joint ventures in the segment, Riverfront Investment Partners I, LLC (“Dock 79”) and Riverfront Investment Partners II, LLC (“The Maren”) are consolidated. The Maren was consolidated effective March 31, 2021 and prior periods are still reflected under the equity method. The ownership of Dock 79 and The Maren (commencing March, 2021) attributable to our partner MidAtlantic Realty Partners, LLC (MRP) is reflected on our consolidated balance sheet as a noncontrolling interest. Such noncontrolling interests are reported on the Consolidated Balance Sheets within equity but separately from shareholders' equity. On the Consolidated Statements of Income, all of the revenues and expenses from Dock 79 are reported in net income, including both the amounts attributable to the Company and the noncontrolling interest. The Maren is reflected in Equity in loss of joint ventures on the Consolidated Statements of Income for the periods up to March 31, 2021 but is reflected like Dock 79 for periods commencing April 1, 2021. The amounts of consolidated net income attributable to the noncontrolling interest is clearly identified on the accompanying Consolidated Statements of Income. On May 21, 2018, the Company completed the disposition of 40 three 347.2 million One 11.7 million 11.7 million Operating results and certain other financial data for the Company’s business segments Years Ended December 31, 2021 2020 2019 Revenues: Revenues Asset management $ 2,575 2,747 2,190 Revenues Mining royalty lands 9,465 9,477 9,438 Revenues Development 1,563 1,152 1,164 Revenues Stabilized Joint Venture 17,617 10,207 10,964 Revenues $ 31,220 23,583 23,756 Operating profit: Before corporate expenses: Operating profit before corporate expenses Asset management $ 612 907 196 Operating profit before corporate expenses Mining royalty lands 8,558 8,629 8,690 Operating profit before corporate expenses Development (2,548 ) (2,576 ) (2,817 ) Operating profit before corporate expenses Stabilized Joint Venture (1,277 ) 1,685 2,243 Operating profit before corporate expenses Operating profit before corporate expenses 5,345 8,645 8,312 Corporate expenses: Corporate expenses Allocated to asset management (843 ) (909 ) (646 ) Corporate expenses Allocated to mining royalty lands (318 ) (288 ) (169 ) Corporate expenses Allocated to Development (1,557 ) (2,108 ) (1,581 ) Corporate expenses Allocated to Stabilized Joint Venture (353 ) (206 ) (160 ) Corporate expenses (3,071 ) (3,511 ) (2,556 ) Operating profit $ 2,274 5,134 5,756 Interest expense Interest expense $ 2,304 1,100 1,054 Depreciation, depletion and amortization: Depreciation, depletion and amortization Asset management $ 578 652 708 Depreciation, depletion and amortization Mining royalty lands 199 218 177 Depreciation, depletion and amortization Development 208 214 214 Depreciation, depletion and amortization Stabilized Joint Venture 11,752 4,744 4,756 Depreciation, depletion and amortization $ 12,737 5,828 5,855 Capital expenditures: Capital expenditures Asset management $ 852 924 9,487 Capital expenditures Mining royalty lands 522 — — Capital expenditures Development 14,242 16,547 631 Capital expenditures Stabilized Joint Venture 914 73 316 Capital expenditures $ 16,530 17,544 10,434 Identifiable net assets Identifiable net assets at end of period: Assets Asset management $ 23,897 11,172 18,468 Assets Mining royalty lands 37,627 37,387 38,409 Assets Development 176,386 196,212 179,357 Assets Stabilized Joint Venture 266,429 130,472 133,956 Investments available for sale Investments available for sale at fair value 4,317 75,609 137,867 Cash Cash items 162,273 74,105 26,793 Assets Unallocated corporate assets 7,261 11,403 3,298 Assets $ 678,190 536,360 538,148

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	11. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 means the use of quoted prices in active markets for identical assets or liabilities. Level 2 means the use of values that are derived principally from or corroborated by observable market data. Level 3 means the use of inputs are those that are unobservable and significant to the overall fair value measurement. At December 31, 2021, the Company was invested in two 4,266,000 24,926,000 42,000 no At December 31, 2021 and 2020, the carrying amount reported in the consolidated balance sheets for cash and cash equivalents including U.S. Treasury notes was adjusted to fair value as described above. The fair values of the Company’s other mortgage notes payable were estimated based on current rates available to the Company for debt of the same remaining maturities. At December 31, 2021, the carrying amount and fair value of such other long-term debt was $ 180,070,000 174,111,000 90,000,000 96,187,000

Contingent Liabilities

Contingent Liabilities	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	12. Contingent Liabilities The Company may be involved in litigation on a number of matters and is subject to certain claims which arise in the normal course of business. The Company has retained certain self-insurance risks with respect to losses for third party liability and property damage. In the opinion of management, none of these matters are expected to have a material adverse effect on the Company’s consolidated financial condition, results of operations or cash flows. The Company is subject to numerous environmental laws and regulations. The Company believes that the ultimate disposition of currently known environmental matters will not have a material effect on its financial position, liquidity, or operations. The Company can give no assurance that previous environmental studies with respect to its properties have revealed all potential environmental contaminants; that any previous owner, occupant or tenant did not create any material environmental condition not known to the Company; that the current environmental condition of the properties will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; and that changes in applicable environmental laws and regulations or their interpretation will not result in additional environmental liability to the Company. As of December 31, 2021, there was $ 506,000 The Company and MRP guaranteed $ 26 million 1 1.9 million 1 48 48 1.9 million

Commitments

Commitments	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments	13. Commitments The Company, at December 31, 2021, had entered into various contracts to develop and maintain real estate with remaining commitments totaling $ 6,074,000

Concentrations

Concentrations	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Concentrations	14. Concentrations The mining royalty lands segment has a total of five 23 278,000

Unusual or Infrequent Items Imp

Unusual or Infrequent Items Impacting Quarterly Results	12 Months Ended
	Dec. 31, 2021
Unusual or Infrequent Items, or Both [Abstract]
Unusual or Infrequent Items Impacting Quarterly Results	15. Unusual or Infrequent Items Impacting Quarterly Results On March 31, 2021, the Company consolidated the assets (at fair value), liabilities and operating results of The Maren real estate partnership. The consolidation resulted in a gain on remeasurement of investment in real estate partnership of $ 51,139,000 13,965,000 Provision for income taxes in the fourth quarter of 2020 was favorably impacted by $ 1,100,000 35

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	16. Intangible Assets The Company has allocated the purchase price of property acquisitions based upon the fair value of the assets acquired, consisting of land, buildings and intangible assets, including in-place leases and below market leases. These deferred leasing intangible assets are recorded within Deferred Costs and Deferred lease intangible, net in the consolidated balance sheets. The value of the in-place lease intangibles will be amortized to amortization expense over the remaining lease terms. The fair value assigned pertaining to the above market in-place leases values are amortized as a reduction to rental revenue, and the below market in-place lease values are amortized as an increase to rental revenue over the remaining non-cancelable terms of the respective leases. The Company reviews intangible assets for impairment, whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of long-lived assets is measured by a comparison of the carrying amount of the asset group to the future undiscounted net cash flows expected to be generated by those assets. If such assets are considered to be impaired, the impairment charge recognized is the amount by which the carrying amounts of the assets exceeds the fair value of the assets. The Company had the following Acquired Lease Intangibles Years Ended December 31, 2021 2020 In-place leases $ 9,660 $ 4,910 Accumulated amortization $ (8,798 ) $ (4,852 ) Acquired intangible assets, net $ 862 $ 58 Amortization expense for in-place leases was $ 3,946,000 46,000 The Estimated Aggregate Amortization Amortization Year Ending of in-place December 31, lease intangibles 2022 $ 559 2023 29 2024 29 2025 29 2026 29

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	17. Discontinued Operations On May 21, 2018, the Company completed the disposition of 40 three 347.2 million One 11.7 million 11.7 million properties comprised substantially all the assets of our Asset Management segment and have been reclassified as discontinued operations for all periods presented. The Results of operations associated with discontinued operations Year Ended December 31, 2019 Lease Revenues $ 460 Cost of operations: Depreciation, depletion and amortization 17 Operating expenses 248 Property taxes 41 Management company indirect — Corporate expenses — Total cost of operations 306 Total operating profit 154 Interest expense — Gain on sale of buildings 9,244 Income before income taxes 9,398 Provision for (benefit from) income taxes 2,542 Income from discontinued operations $ 6,856

Accounting Policies (Policies)

Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
ORGANIZATION	ORGANIZATION FRP Holdings, Inc. was incorporated on April 22, 2014 in connection with a corporate reorganization that preceded the Spin-off of Patriot Transportation Holding, Inc. The Company’s predecessor issuer was formed on July 20, 1998. The business of the Company is conducted through our wholly-owned subsidiaries FRP Development Corp., a Maryland corporation (“Development”) and Florida Rock Properties, Inc., a Florida corporation (“Properties”), and the various subsidiaries of each. On May 21, 2018, the Company completed the disposition of 40 three 347.2 million One 11.7 million 11.7 million four
CONSOLIDATION	CONSOLIDATION Effective July 1, 2017 the Company consolidated the assets (at fair value), liabilities and operating results of our Riverfront Investment Partners I, LLC joint venture (“Dock 79”) which was previously accounted for under the equity method. Subsequent to the July 1, 2017 consolidation, the ownership of Dock 79 attributable to our partner MRP Realty is reflected on our consolidated balance sheet as a noncontrolling interest. In March 2021, Riverfront II, LLC reached stabilization which resulted in a change of control for accounting purposes as the veto rights of the minority shareholder lapsed and the Company became the primary beneficiary. As such, effective March 31, 2021 the Company consolidated the assets (at fair value), liabilities and operating results of our Riverfront Investment Partners II, LLC joint venture (“The Maren”) which was previously accounted for under the equity method. Subsequent to the March 31, 2021 consolidation, the ownership of The Maren attributable to our partner MRP Realty is reflected on our consolidated balance sheet as a noncontrolling interest. Such noncontrolling interests are reported on the Consolidated Balance Sheets within equity but separately from shareholders' equity. On the Consolidated Statements of Income, all of the revenues and expenses from Dock 79 are reported in net income, including both the amounts attributable to the Company and the noncontrolling interest. The Maren is reflected in Equity in loss of joint ventures on the Consolidated Statements of Income for the periods up to March 31, 2021 but is reflected like Dock 79 for periods commencing April 1, 2021. The amounts of consolidated net income attributable to the noncontrolling interest is clearly identified on the accompanying Consolidated Statements of Income.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS
INVESTMENTS AVAILABLE FOR SALE	INVESTMENTS AVAILABLE FOR SALE no
REVENUE AND EXPENSE RECOGNITION	REVENUE AND EXPENSE RECOGNITION Sales of real estate are recognized when the collection of the sales price is reasonably assured and when the Company has fulfilled substantially all of its obligations, which are typically as of the closing date. Accounts receivable are recorded net of discounts and provisions for estimated allowances. We estimate allowances on an ongoing basis by considering historical and current trends. We record estimated bad debts expense as a reduction of lease revenue. We estimate the net collectibility of our accounts receivable and establish an allowance for doubtful accounts based upon this assessment. Specifically, we analyze the aging of accounts receivable balances, historical bad debts, customer concentrations, customer credit-worthiness, current economic trends and changes in customer payment terms.
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Years Building and improvements 3-39 Depletion of sand and stone deposits is computed on the basis of units of production in relation to estimated reserves. Reserve estimates are periodically adjusted based upon surveys. The Company recorded depreciation and depletion expenses for fiscal year 2021, 2020 and 2019, of $ 8,806,000 5,766,000 5,784,000 All direct and indirect costs, including interest and real estate taxes, associated with the development, construction, leasing or expansion of real estate investments are capitalized as a cost of the property. Included in indirect costs is an allocation of internal costs associated with development of real estate investments. The cost of routine repairs and maintenance to property and equipment is expensed as incurred.
IMPAIRMENT OF LONG-LIVED ASSETS	IMPAIRMENT OF LONG-LIVED ASSETS
DEVELOPED PROPERTY RENTALS PURCHASE ACCOUNTING	DEVELOPED PROPERTY RENTALS PURCHASE ACCOUNTING · the fair value of leases in-place on the date of acquisition is based on absorption costs for the estimated lease-up period in which vacancy and foregone revenue are avoided due to the presence of the acquired leases; · the fair value of above and below-market in-place leases based on the present value (using a discount rate that reflects the risks associated with the acquired leases) of the difference between contractual rent amounts to be paid under the assumed lease and the estimated market lease rates for the corresponding spaces over the remaining non-cancelable terms of the related leases; and · the fair value of intangible tenant or customer relationships. The Company’s determination of these fair values requires it to estimate market rents for each of the leases and make certain other assumptions. These estimates and assumptions affect the rental revenue, and depreciation and amortization expense recognized for these leases and associated intangible assets and liabilities.
INVESTMENTS IN JOINT VENTURES	INVESTMENTS IN JOINT VENTURES 50% or less excess of 50%
INCOME TAXES	INCOME TAXES changes in facts or circumstances, changes in tax law and expiration of statutes of limitations, effectively settled issues under audit, and audit activity. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. It is the Company's policy to recognize as additional income tax expense the items of interest paid and penalties directly related to income taxes.
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION
DEFERRED COMPENSATION PLAN	DEFERRED COMPENSATION PLAN
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE
USE OF ESTIMATES	USE OF ESTIMATES Certain accounting policies and estimates are of more significance in the financial statement preparation process than others. The most critical accounting policies and estimates include the economic useful lives of our mining reserves, property and equipment, provisions for uncollectible accounts receivable and collectibility of unrealized rents, accounting for real estate investments, estimates of exposures related to our insurance claims plans and environmental liabilities, and estimates for taxes. To the extent that actual, final outcomes are different than these estimates, or that additional facts and circumstances result in a revision to these estimates, earnings during that accounting period will be affected.
ENVIRONMENTAL	ENVIRONMENTAL
COMPREHENSIVE INCOME	COMPREHENSIVE INCOME
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS incurred if the lease had not been obtained may be deferred as initial direct costs. The new standard also requires lessors to exclude from variable payments certain lessor costs, such as real estate taxes, that the lessor contractually requires the lessee to pay directly to a third party on its behalf. The new standard requires our expected credit loss related to the collectability of lease receivables to be reflected as an adjustment to the line item Lease Revenue. Additionally, the new standard requires lessors to allocate the consideration in a contract between the lease component (right to use an underlying asset) and non-lease component (transfer of a good or service that is not a lease). However, lessors are provided with a practical expedient, elected by class of underlying asset, to account for lease and non-lease components of a contract as a single lease component if certain criteria are met. The terms of the Company's leases generally provide that the Company is entitled to receive reimbursements from tenants for operating expenses such as real estate taxes, insurance and common area maintenance, in addition to the base rental payments for use of the underlying asset. Under the new standard, common area maintenance is considered a non-lease component of a lease contract, which would be accounted for under Topic 606. However, the Company will apply the practical expedient to account for its lease and non-lease components as a single, combined operating lease component. While the timing of recognition should remain the same, the Company is no longer presenting reimbursement revenue from tenants separately in our Consolidated Statements of Income beginning January 1, 2019. The new standard along with the adoption of ASU No. 2018-11, Leases - Targeted Improvements which the FASB issued in July 2018, was adopted effective January 1, 2019 and we have elected to use January 1, 2019 as our date of initial application. We elected the package of practical expedients permitted under the transition guidance within the new standard. By adopting these practical expedients, we were not required to reassess (1) whether an existing contract meets the definition of a lease; (2) the lease classification for existing leases; or (3) costs previously capitalized as initial direct costs. The adoption of this guidance did not have a material impact on our financial statements.

Investments in Joint Ventures (

Investments in Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments in unconsolidated joint ventures	The following table summarizes the Company’s Investments in unconsolidated joint ventures The Company's Share of Profit Common Total Total Assets of Profit (Loss) (Loss) of the Ownership Investment The Partnership Of the Partnership Partnership (1) As of December 31, 2021 Brooksville Quarry, LLC 50.00 % $ 7,488 14,301 (82 ) (41 ) BC FRP Realty, LLC 50.00 % 5,530 22,470 (230 ) (115 ) Riverfront Holdings II, LLC (1) — — (760 ) (628 ) Bryant Street Partnerships 61.36 % 59,558 204,082 (6,084 ) (4,954 ) Aberdeen Station Loan 514 514 — — DST Hickory Creek 26.65 % 6,000 46,048 (481 ) 343 Amber Ridge Loan 11,466 11,466 — — 1800 Half St. Owner, LLC 61.37 % 38,693 93,932 12 20 Greenville/Woodfield Partnerships 40.00 % 16,194 87,731 (948 ) (379 ) Total $ 145,443 480,544 (8,573 ) (5,754 ) The Company's Share of Profit Common Total Total Assets of Profit (Loss) (Loss) of the Ownership Investment The Partnership Of the Partnership Partnership (1) As of December 31, 2020 Brooksville Quarry, LLC 50.00 % $ 7,499 14,347 (78 ) (39 ) BC FRP Realty, LLC 50.00 % 5,184 22,747 (411 ) (207 ) Riverfront Holdings II, LLC 80.00 % 23,533 108,538 (4,573 ) (3,907 ) Bryant Street Partnerships 61.36 % 60,159 173,814 (836 ) (2,130 ) Hyde Park 591 591 — — DST Hickory Creek 26.65 % 6,000 47,761 (367 ) 339 Amber Ridge Loan 10,026 10,026 — — 1800 Half St. Owner, LLC 61.37 % 37,875 54,275 158 164 Greenville/Woodfield Partnerships 40.00 % 16,204 46,457 182 90 Total $ 167,071 478,556 (5,925 ) (5,690 ) (1): Riverfront Holdings II, LLC was consolidated on March 31, 2021. Bryant Street Partnerships includes $ 747,000 1,146,000 471,000 471,000
Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2021	The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2021 are summarized in the following two tables (in thousands): Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2021 As of December 31, 2021 Total Riverfront Bryant Street DST Hickory 1800 Half St. Greenville/ Apartment/ Holdings II, LLC Partnership Creek Partnership Woodfield Mixed Use Investments in real estate, net $ 0 199,730 43,840 93,504 87,421 $ 424,495 Cash and cash equivalents 0 1,123 827 428 279 2,657 Unrealized rents & receivables 0 2,925 1,044 0 5 3,974 Deferred costs 0 304 337 0 26 667 Total Assets $ 0 204,082 46,048 93,932 87,731 $ 431,793 Secured notes payable $ 0 119,201 29,337 18,404 44,309 $ 211,251 Other liabilities 0 9,066 115 14,470 4,462 28,113 Capital - FRP 0 57,555 4,423 37,478 15,584 115,040 Capital – Third Parties 0 18,260 12,173 23,580 23,376 77,389 Total Liabilities and Capital $ 0 204,082 46,048 93,932 87,731 $ 431,793
Investments in Joint Ventures as of December 31, 2021	Investments in Joint Ventures as of December 31, 2021 As of December 31, 2021 Brooksville BC FRP Aberdeen Amber Ridge Apartment/ Grand Quarry, LLC Realty, LLC Loan Loan Mixed Use Total Investments in real estate, net $ 14,281 21,561 514 11,466 424,495 $ 472,317 Cash and cash equivalents 18 312 0 0 2,657 2,987 Unrealized rents & receivables 0 368 0 0 3,974 4,342 Deferred costs 2 229 0 0 667 898 Total Assets $ 14,301 22,470 514 11,466 431,793 $ 480,544 Secured notes payable $ 0 11,384 0 0 211,251 $ 222,635 Other liabilities 0 140 0 0 28,113 28,253 Capital - FRP 7,488 5,473 514 11,466 115,040 139,981 Capital - Third Parties 6,813 5,473 0 0 77,389 89,675 Total Liabilities and Capital $ 14,301 22,470 514 11,466 431,793 $ 480,544
Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2020	The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2020 are summarized in the following two tables (in thousands): Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2020 As of December 31, 2020 Total Riverfront Bryant Street DST Hickory 1800 Half St. Greenville/ Apartment/ Holdings II, LLC Partnership Creek Partnership Woodfield Mixed Use Investments in real estate, net $ 105,737 173,560 45,379 37,452 42,668 $ 404,796 Cash and cash equivalents 2,626 111 1,202 14,011 3,554 21,504 Unrealized rents & receivables 13 58 775 2 0 848 Deferred costs 162 85 405 2,810 235 3,697 Total Assets $ 108,538 173,814 47,761 54,275 46,457 $ 430,845 Secured notes payable $ 64,982 72,471 29,291 0 1,776 $ 168,520 Other liabilities 4,189 22,952 107 1,953 4,774 33,975 Capital - FRP 34,667 58,559 4,894 37,466 15,963 151,549 Capital - Third Parties 4,700 19,832 13,469 14,856 23,944 76,801 Total Liabilities and Capital $ 108,538 173,814 47,761 54,275 46,457 $ 430,845
Investments in Joint Ventures as of December 31, 2020	Investments in Joint Ventures as of December 31, 2020 As of December 31, 2020 Brooksville BC FRP Amber Ridge Apartment/ Grand Quarry, LLC Realty, LLC Hyde Park Loan Mixed Use Total Investments in real estate, net $ 14,287 22,067 591 10,026 404,796 $ 451,767 Cash and cash equivalents 55 90 0 0 21,504 21,649 Unrealized rents & receivables 0 254 0 0 848 1,102 Deferred costs 5 336 0 0 3,697 4,038 Total Assets $ 14,347 22,747 591 10,026 430,845 $ 478,556 Secured notes payable $ 0 12,370 0 0 168,520 $ 180,890 Other liabilities 28 123 0 0 33,975 34,126 Capital - FRP 7,499 5,127 591 10,026 151,549 174,792 Capital - Third Parties 6,820 5,127 0 0 76,801 88,748 Total Liabilities and Capital $ 14,347 22,747 591 10,026 430,845 $ 478,556
Bryant Street Partnerships	The income statements of the Bryant Street Partnerships Bryant Street Bryant Street Partnerships Partnerships Total JV Company Share Year ended Year ended December 31, December 31, 2021 2021 Revenues: Rental Revenue $ 2,376 $ 1,458 Revenue – other 318 195 Total Revenues 2,694 1,653 Cost of operations: Depreciation and amortization 2,842 1,744 Operating expenses 3,163 1,941 Property taxes 398 244 Total cost of operations 6,403 3,929 Total operating profit (loss) (3,709 ) (2,276 ) Interest expense (2,375 ) (2,678 ) Net loss before tax (6,084 ) (4,954 )

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt December 31, December 31, 2021 2020 Fixed rate mortgage loans, 3.03 $ 180,070 90,000 Unamortized debt issuance costs (1,661 ) (36 ) Credit agreement — — Long term debt $ 178,409 89,964

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Carrying value of property owned by the Company which is leased or held for lease	At December 31, 2021, the total Carrying value of property owned by the Company which is leased or held for lease Construction aggregates property $ 35,076 Commercial property 76,580 Residential/mixed use property 293,821 Carrying Value of property owned by the Company leased or held for lease, gross 405,477 Less accumulated depreciation and depletion 46,270 Carrying Value of property owned by the Company leased or held for lease, net $ 359,207

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Common Share	The following details the computations of the Basic and Diluted Earnings Per Common Share Years Ended December 31 2021 2020 2019 Common shares: Weighted average common shares outstanding during the period – shares used for basic earnings per common share 9,355 9,580 9,883 Common shares issuable under share based payments plans which are potentially dilutive 42 29 43 Common shares used for diluted earnings per common share 9,397 9,609 9,926 Income from continuing operations $ 40,094 11,722 8,822 Discontinued operations $ — — 6,856 Net income attributable to the Company $ 28,215 12,715 16,177 Basic earnings per common share: Income from continuing operations $ 4.29 1.22 0.89 Discontinued operations $ — — 0.69 Net income attributable to the Company $ 3.02 1.33 1.64 Diluted earnings per common share: Income from continuing operations $ 4.27 1.22 0.89 Discontinued operations $ — — 0.69 Net income attributable to the Company $ 3.00 1.32 1.63

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock compensation expense	The Company recorded the following Stock compensation expense Years Ended December 31, 2021 2020 2019 Stock option grants $ 69 92 112 Restricted stock awards 492 250 — Employee stock grant 50 530 — Unrestricted employee stock award — — 50 Annual director stock award 500 500 70 Stock compensation $ 1,111 1,372 232
Summary of changes in outstanding options	A Summary of changes in outstanding options Weighted Weighted Weighted Number Average Average Average of Exercise Remaining Grant Date Options Shares Price Term (yrs) Fair Value(000's) Outstanding at January 1, 2019 147,538 $ 33.48 6.7 $ 1,782 Exercised (15,034 ) $ 30.42 $ (151 ) Outstanding at December 31, 2019 132,504 $ 33.82 5.8 $ 1,631 Exercised (12,415 ) $ 19.23 $ (100 ) Outstanding at December 31, 2020 120,089 $ 35.33 5.3 $ 1,531 Exercised (15,334 ) $ 17.54 $ (115 ) Outstanding at December 31, 2021 104,755 $ 37.93 4.8 $ 1,416 Exercisable at December 31, 2021 96,586 $ 37.26 4.7 $ 1,281 Vested during twelve months ended December 31, 2021 4,179 $ 69
Summary of stock options outstanding	The following table summarizes information concerning stock options outstanding at December 31, 2021: Summary of stock options outstanding Shares Weighted Weighted Range of Exercise under Average Average Prices per Share Option Exercise Price Remaining Life Non-exercisable: $44.31 - $45.97 8,169 $ 45.94 6.9 Years Exercisable: $19.68 - $29.52 20,080 22.66 1.7 $29.53 - $44.30 31,130 35.11 4.0 $44.31 - $45.97 45,376 45.19 6.4 96,586 $ 37.26 4.7 Years Total 104,755 $ 37.93 4.8 Years
Summary of changes in restricted stock awards	A Summary of changes in restricted stock awards Weighted Weighted Weighted Number Average Average Average Of Exercise Remaining Grant Date Restricted stock Shares Price Term (yrs) Fair Value(000's) Non-vested at January 1, 2020 0 $ 0 $ 0 Performance-based awards granted 20,520 46.30 950 Non-vested at December 31, 2020 20,520 $ 46.30 3.4 $ 950 Time-based awards granted 8,896 45.55 405 Performance-based awards granted 18,882 45.55 860 Vested (2,224 ) 45.55 (101 ) Non-vested at December 31, 2021 46,074 $ 45.88 3.1 $ 2,114

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Provision for income tax expense included in the financial statements	The Provision for income tax expense included in the financial statements Years Ended December 31, 2021 2020 2019 Included in Net income: Continuing operations $ 10,281 3,207 2,962 Discontinued operations — — 2,542 Income tax expense benefit 10,281 3,207 5,504 Comprehensive income (209 ) (92 ) 602 Total tax expense $ 10,072 3,115 6,106
Provision for income taxes	The Provision for income taxes Year Ended December 31, 2021 2020 2019 Current: Federal $ 305 (2,667 ) (8,225 ) State 1,826 (213 ) (7,799 ) Current income tax expense 2,131 (2,880 ) (16,024 ) Deferred 7,941 5,995 22,130 Total $ 10,072 3,115 6,106
Reconciliation between the amount of tax shown above and the amount computed at the statutory Federal income tax	A Reconciliation between the amount of tax shown above and the amount computed at the statutory Federal income tax Year Ended December 31 2021 2020 2019 Amount computed at statutory Federal rate $ 7,941 3,226 5,006 State income taxes (net of Federal income tax benefit) 2,634 1,048 1,623 Carryback of net operating loss — (1,100 ) — Other, net (503 ) (59 ) (523 ) Provision for income taxes $ 10,072 3,115 6,106
Deferred tax assets and deferred tax liabilities	The types of temporary differences and their related tax effects that give rise to Deferred tax assets and deferred tax liabilities December 31, 2021 2020 2019 Deferred tax liabilities: Property and equipment $ 38,143 56,314 49,932 Investment in opportunity zone 30,846 — — Depletion 704 708 718 Unrealized rents 58 27 27 Prepaid expenses 36 50 76 Gross deferred tax liabilities 69,787 57,099 50,753 Deferred tax assets: Federal tax loss carryforwards 3,235 — — State tax loss carryforwards 1,388 — — Employee benefits and other 1,117 993 642 Gross deferred tax assets 5,740 993 642 Net deferred tax liability $ 64,047 56,106 50,111
NOL Carryovers	NOL Carryovers Years Ended Other Items - All Gross 12/31/2021 12/31/2020 State NOL Carryovers 23,111,156 3,863,571 Federal NOL Carryovers 15,406,397 —

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Operating results and certain other financial data for the Company’s business segments	Operating results and certain other financial data for the Company’s business segments Years Ended December 31, 2021 2020 2019 Revenues: Revenues Asset management $ 2,575 2,747 2,190 Revenues Mining royalty lands 9,465 9,477 9,438 Revenues Development 1,563 1,152 1,164 Revenues Stabilized Joint Venture 17,617 10,207 10,964 Revenues $ 31,220 23,583 23,756 Operating profit: Before corporate expenses: Operating profit before corporate expenses Asset management $ 612 907 196 Operating profit before corporate expenses Mining royalty lands 8,558 8,629 8,690 Operating profit before corporate expenses Development (2,548 ) (2,576 ) (2,817 ) Operating profit before corporate expenses Stabilized Joint Venture (1,277 ) 1,685 2,243 Operating profit before corporate expenses Operating profit before corporate expenses 5,345 8,645 8,312 Corporate expenses: Corporate expenses Allocated to asset management (843 ) (909 ) (646 ) Corporate expenses Allocated to mining royalty lands (318 ) (288 ) (169 ) Corporate expenses Allocated to Development (1,557 ) (2,108 ) (1,581 ) Corporate expenses Allocated to Stabilized Joint Venture (353 ) (206 ) (160 ) Corporate expenses (3,071 ) (3,511 ) (2,556 ) Operating profit $ 2,274 5,134 5,756 Interest expense Interest expense $ 2,304 1,100 1,054 Depreciation, depletion and amortization: Depreciation, depletion and amortization Asset management $ 578 652 708 Depreciation, depletion and amortization Mining royalty lands 199 218 177 Depreciation, depletion and amortization Development 208 214 214 Depreciation, depletion and amortization Stabilized Joint Venture 11,752 4,744 4,756 Depreciation, depletion and amortization $ 12,737 5,828 5,855 Capital expenditures: Capital expenditures Asset management $ 852 924 9,487 Capital expenditures Mining royalty lands 522 — — Capital expenditures Development 14,242 16,547 631 Capital expenditures Stabilized Joint Venture 914 73 316 Capital expenditures $ 16,530 17,544 10,434
Identifiable net assets	Identifiable net assets Identifiable net assets at end of period: Assets Asset management $ 23,897 11,172 18,468 Assets Mining royalty lands 37,627 37,387 38,409 Assets Development 176,386 196,212 179,357 Assets Stabilized Joint Venture 266,429 130,472 133,956 Investments available for sale Investments available for sale at fair value 4,317 75,609 137,867 Cash Cash items 162,273 74,105 26,793 Assets Unallocated corporate assets 7,261 11,403 3,298 Assets $ 678,190 536,360 538,148

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Lease Intangibles	The Company had the following Acquired Lease Intangibles Years Ended December 31, 2021 2020 In-place leases $ 9,660 $ 4,910 Accumulated amortization $ (8,798 ) $ (4,852 ) Acquired intangible assets, net $ 862 $ 58
Estimated Aggregate Amortization	The Estimated Aggregate Amortization Amortization Year Ending of in-place December 31, lease intangibles 2022 $ 559 2023 29 2024 29 2025 29 2026 29

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Results of operations associated with discontinued operations	properties comprised substantially all the assets of our Asset Management segment and have been reclassified as discontinued operations for all periods presented. The Results of operations associated with discontinued operations Year Ended December 31, 2019 Lease Revenues $ 460 Cost of operations: Depreciation, depletion and amortization 17 Operating expenses 248 Property taxes 41 Management company indirect — Corporate expenses — Total cost of operations 306 Total operating profit 154 Interest expense — Gain on sale of buildings 9,244 Income before income taxes 9,398 Provision for (benefit from) income taxes 2,542 Income from discontinued operations $ 6,856

Accounting Policies (Details Na

Accounting Policies (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)Integer	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	May 21, 2018USD ($)Integer
Real Estate Properties [Line Items]
Commercial properties | Integer	2
Investments held to maturity | $	$ 0
Investments held for trading | $	$ 0
Estimated useful lives	3-39
Depreciation and depletion | $	$ 8,806,000	$ 5,766,000	$ 5,784,000
Brooksville Joint Venture [Member]
Real Estate Properties [Line Items]
Voting interest	50% or less
B C F R P Realty Joint Venture [Member]
Real Estate Properties [Line Items]
Voting interest	50% or less
Greenville Woodfield Joint Venture [Member]
Real Estate Properties [Line Items]
Voting interest	50% or less
Bryant Street Partnerships [Member]
Real Estate Properties [Line Items]
Voting interest	excess of 50%
Half Street Joint Venture [Member]
Real Estate Properties [Line Items]
Voting interest	excess of 50%
Wholly Owned Properties [Member]
Real Estate Properties [Line Items]
Commercial properties | Integer	4
Discontinued Operations, Disposed of by Sale [Member]
Real Estate Properties [Line Items]
Commercial properties | Integer					40
Land parcels | Integer					3
Sale of excluded property | $			$ 11,700,000	$ 347,200,000
Discontinued Operations, Held-for-sale [Member]
Real Estate Properties [Line Items]
Commercial properties | Integer					1
Property value excluded from sale | $					$ 11,700,000

Investments in unconsolidated j

Investments in unconsolidated joint ventures (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Total investments	$ 145,443,000	$ 167,071,000
Total assets of the partnership	678,190,000	536,360,000	$ 538,148,000
Partnership profit (loss)	40,094,000	11,722,000	15,678,000
Share of profit (loss) of the partnership	(5,754,000)	(5,690,000)	$ (1,954,000)
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	480,544,000	478,556,000
Partnership profit (loss)	(8,573,000)	(5,925,000)
Real Estate Partnership Net Income Loss [Member]
Schedule of Equity Method Investments [Line Items]
Share of profit (loss) of the partnership	$ (5,754,000)	$ (5,690,000)
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%	50.00%
Total investments	$ 7,488,000	$ 7,499,000
Partnership profit (loss)	(82,000)	(78,000)
Share of profit (loss) of the partnership	(41,000)	(39,000)
Brooksville Quarry L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 14,301,000	$ 14,347,000
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%	50.00%
Total investments	$ 5,530,000	$ 5,184,000
Partnership profit (loss)	(230,000)	(411,000)
Share of profit (loss) of the partnership	(115,000)	(207,000)
B C F R P Realty L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	22,470,000	$ 22,747,000
Riverfront Holdings I I L L C [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage		80.00%
Total investments	0	$ 23,533,000
Partnership profit (loss)	(760,000)	(4,573,000)
Share of profit (loss) of the partnership	(628,000)	(3,907,000)
Riverfront Holdings I I L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 0	$ 108,538,000
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	61.36%	61.36%
Total investments	$ 59,558,000	$ 60,159,000
Partnership profit (loss)	(6,084,000)	(836,000)
Share of profit (loss) of the partnership	(4,954,000)	(2,130,000)
[custom:InterestIncomePreferred]	747,000	1,146,000
[custom:GuaranteeLiabilityAmortization]	471,000	471,000
Bryant Street Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	204,082,000	$ 173,814,000
Aberdeen Station [Member]
Schedule of Equity Method Investments [Line Items]
Total investments	514,000
Partnership profit (loss)	0
Share of profit (loss) of the partnership	0
Aberdeen Station [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 514,000
D S T Hickory Creek [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	26.65%	26.65%
Total investments	$ 6,000,000	$ 6,000,000
Partnership profit (loss)	(481,000)	(367,000)
Share of profit (loss) of the partnership	343,000	339,000
D S T Hickory Creek [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	46,048,000	47,761,000
Amber Ridge Loan [Member]
Schedule of Equity Method Investments [Line Items]
Total investments	11,466,000	10,026,000
Partnership profit (loss)	0	0
Share of profit (loss) of the partnership		0
Amber Ridge Loan [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 11,466,000	$ 10,026,000
Half St Owner L L C [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	61.37%	61.37%
Total investments	$ 38,693,000	$ 37,875,000
Partnership profit (loss)	12,000	158,000
Share of profit (loss) of the partnership	20,000	164,000
Half St Owner L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 93,932,000	$ 54,275,000
Greenville Woodfield Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	40.00%	40.00%
Total investments	$ 16,194,000	$ 16,204,000
Partnership profit (loss)	(948,000)	182,000
Share of profit (loss) of the partnership	(379,000)	90,000
Greenville Woodfield Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 87,731,000	46,457,000
Hyde Park [Member]
Schedule of Equity Method Investments [Line Items]
Total investments		591,000
Partnership profit (loss)		0
Share of profit (loss) of the partnership		0
Hyde Park [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership		$ 591,000

Investments in Apartment_Mixed

Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2021 (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 472,317	$ 451,767
Cash and cash equivalents	2,987	21,649
Unrealized rents & receivables	4,342	1,102
Deferred costs	898	4,038
Total Assets	678,190	536,360	$ 538,148
Secured notes payable	222,635	180,890
Other liabilities	28,253	34,126
Capital – Third Parties	396,423	367,654
Total Liabilities and Capital	678,190	536,360
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	480,544	478,556
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	139,981	174,792
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	89,675	88,748
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	480,544	478,556
Riverfront Holdings I I L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	0	105,737
Cash and cash equivalents	0	2,626
Unrealized rents & receivables	0	13
Deferred costs	0	162
Secured notes payable	0	64,982
Other liabilities	0	4,189
Riverfront Holdings I I L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	0	108,538
Riverfront Holdings I I L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	0	34,667
Riverfront Holdings I I L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	0	4,700
Riverfront Holdings I I L L C [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	0	108,538
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	199,730	173,560
Cash and cash equivalents	1,123	111
Unrealized rents & receivables	2,925	58
Deferred costs	304	85
Secured notes payable	119,201	72,471
Other liabilities	9,066	22,952
Bryant Street Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	204,082	173,814
Bryant Street Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	57,555	58,559
Bryant Street Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	18,260	19,832
Bryant Street Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	204,082	173,814
D S T Hickory Creek [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	43,840	45,379
Cash and cash equivalents	827	1,202
Unrealized rents & receivables	1,044	775
Deferred costs	337	405
Secured notes payable	29,337	29,291
Other liabilities	115	107
D S T Hickory Creek [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	46,048	47,761
D S T Hickory Creek [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	4,423	4,894
D S T Hickory Creek [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	12,173	13,469
D S T Hickory Creek [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	46,048	47,761
Half St Owner L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	93,504	37,452
Cash and cash equivalents	428	14,011
Unrealized rents & receivables	0	2
Deferred costs	0	2,810
Secured notes payable	18,404	0
Other liabilities	14,470	1,953
Half St Owner L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	93,932	54,275
Half St Owner L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	37,478	37,466
Half St Owner L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	23,580	14,856
Half St Owner L L C [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	93,932	54,275
Greenville Woodfield Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	87,421	42,668
Cash and cash equivalents	279	3,554
Unrealized rents & receivables	5	0
Deferred costs	26	235
Secured notes payable	44,309	1,776
Other liabilities	4,462	4,774
Greenville Woodfield Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	87,731	46,457
Greenville Woodfield Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	15,584	15,963
Greenville Woodfield Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	23,376	23,944
Greenville Woodfield Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	87,731	46,457
Apartment Mixed Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	424,495	404,796
Cash and cash equivalents	2,657	21,504
Unrealized rents & receivables	3,974	848
Deferred costs	667	3,697
Secured notes payable	211,251	168,520
Other liabilities	28,113	33,975
Apartment Mixed Use [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	431,793	430,845
Apartment Mixed Use [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	115,040	151,549
Apartment Mixed Use [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	77,389	76,801
Apartment Mixed Use [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 431,793	$ 430,845

Investments in Joint Ventures a

Investments in Joint Ventures as of December 31, 2021 (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 472,317	$ 451,767
Cash and cash equivalents	2,987	21,649
Unrealized rents & receivables	4,342	1,102
Deferred costs	898	4,038
Total Assets	678,190	536,360	$ 538,148
Secured notes payable	222,635	180,890
Other liabilities	28,253	34,126
Capital - Third Parties	396,423	367,654
Total Liabilities and Capital	678,190	536,360
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	480,544	478,556
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	139,981	174,792
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	89,675	88,748
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	480,544	478,556
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	14,281	14,287
Cash and cash equivalents	18	55
Unrealized rents & receivables	0	0
Deferred costs	2	5
Secured notes payable	0	0
Other liabilities	0	28
Brooksville Quarry L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	14,301	14,347
Brooksville Quarry L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	7,488	7,499
Brooksville Quarry L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	6,813	6,820
Brooksville Quarry L L C [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	14,301	14,347
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	21,561	22,067
Cash and cash equivalents	312	90
Unrealized rents & receivables	368	254
Deferred costs	229	336
Secured notes payable	11,384	12,370
Other liabilities	140	123
B C F R P Realty L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	22,470	22,747
B C F R P Realty L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	5,473	5,127
B C F R P Realty L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	5,473	5,127
B C F R P Realty L L C [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	22,470	22,747
Aberdeen Station [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	514
Cash and cash equivalents	0
Unrealized rents & receivables	0
Deferred costs	0
Secured notes payable	0
Other liabilities	0
Aberdeen Station [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	514
Aberdeen Station [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	514
Aberdeen Station [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	0
Aberdeen Station [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	514
Amber Ridge Loan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	11,466	10,026
Cash and cash equivalents	0	0
Unrealized rents & receivables	0	0
Deferred costs	0	0
Secured notes payable	0	0
Other liabilities	0	0
Amber Ridge Loan [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	11,466	10,026
Amber Ridge Loan [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	11,466	10,026
Amber Ridge Loan [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	0	0
Amber Ridge Loan [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	11,466	10,026
Apartment Mixed Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	424,495	404,796
Cash and cash equivalents	2,657	21,504
Unrealized rents & receivables	3,974	848
Deferred costs	667	3,697
Secured notes payable	211,251	168,520
Other liabilities	28,113	33,975
Apartment Mixed Use [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	431,793	430,845
Apartment Mixed Use [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	115,040	151,549
Apartment Mixed Use [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	77,389	76,801
Apartment Mixed Use [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 431,793	$ 430,845

Investments in Apartment_Mixe_2

Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2020 (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 472,317	$ 451,767
Cash and cash equivalents	2,987	21,649
Unrealized rents & receivables	4,342	1,102
Deferred costs	898	4,038
Total Assets	678,190	536,360	$ 538,148
Secured notes payable	222,635	180,890
Other liabilities	28,253	34,126
Capital - Third Parties	396,423	367,654
Total Liabilities and Capital	678,190	536,360
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	480,544	478,556
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	139,981	174,792
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	89,675	88,748
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	480,544	478,556
Riverfront Holdings I I L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	0	105,737
Cash and cash equivalents	0	2,626
Unrealized rents & receivables	0	13
Deferred costs	0	162
Secured notes payable	0	64,982
Other liabilities	0	4,189
Riverfront Holdings I I L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	0	108,538
Riverfront Holdings I I L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	0	34,667
Riverfront Holdings I I L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	0	4,700
Riverfront Holdings I I L L C [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	0	108,538
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	199,730	173,560
Cash and cash equivalents	1,123	111
Unrealized rents & receivables	2,925	58
Deferred costs	304	85
Secured notes payable	119,201	72,471
Other liabilities	9,066	22,952
Bryant Street Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	204,082	173,814
Bryant Street Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	57,555	58,559
Bryant Street Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	18,260	19,832
Bryant Street Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	204,082	173,814
D S T Hickory Creek [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	43,840	45,379
Cash and cash equivalents	827	1,202
Unrealized rents & receivables	1,044	775
Deferred costs	337	405
Secured notes payable	29,337	29,291
Other liabilities	115	107
D S T Hickory Creek [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	46,048	47,761
D S T Hickory Creek [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	4,423	4,894
D S T Hickory Creek [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	12,173	13,469
D S T Hickory Creek [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	46,048	47,761
Half St Owner L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	93,504	37,452
Cash and cash equivalents	428	14,011
Unrealized rents & receivables	0	2
Deferred costs	0	2,810
Secured notes payable	18,404	0
Other liabilities	14,470	1,953
Half St Owner L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	93,932	54,275
Half St Owner L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	37,478	37,466
Half St Owner L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	23,580	14,856
Half St Owner L L C [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	93,932	54,275
Greenville Woodfield Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	87,421	42,668
Cash and cash equivalents	279	3,554
Unrealized rents & receivables	5	0
Deferred costs	26	235
Secured notes payable	44,309	1,776
Other liabilities	4,462	4,774
Greenville Woodfield Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	87,731	46,457
Greenville Woodfield Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	15,584	15,963
Greenville Woodfield Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	23,376	23,944
Greenville Woodfield Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	87,731	46,457
Apartment Mixed Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	424,495	404,796
Cash and cash equivalents	2,657	21,504
Unrealized rents & receivables	3,974	848
Deferred costs	667	3,697
Secured notes payable	211,251	168,520
Other liabilities	28,113	33,975
Apartment Mixed Use [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	431,793	430,845
Apartment Mixed Use [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	115,040	151,549
Apartment Mixed Use [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	77,389	76,801
Apartment Mixed Use [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 431,793	$ 430,845

Investments in Joint Ventures_2

Investments in Joint Ventures as of December 31, 2020 (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 472,317	$ 451,767
Cash and cash equivalents	2,987	21,649
Unrealized rents & receivables	4,342	1,102
Deferred costs	898	4,038
Total Assets	678,190	536,360	$ 538,148
Secured notes payable	222,635	180,890
Other liabilities	28,253	34,126
Capital - Third Parties	396,423	367,654
Total Liabilities and Capital	678,190	536,360
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	480,544	478,556
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	139,981	174,792
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	89,675	88,748
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	480,544	478,556
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	14,281	14,287
Cash and cash equivalents	18	55
Unrealized rents & receivables	0	0
Deferred costs	2	5
Secured notes payable	0	0
Other liabilities	0	28
Brooksville Quarry L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	14,301	14,347
Brooksville Quarry L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	7,488	7,499
Brooksville Quarry L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	6,813	6,820
Brooksville Quarry L L C [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	14,301	14,347
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	21,561	22,067
Cash and cash equivalents	312	90
Unrealized rents & receivables	368	254
Deferred costs	229	336
Secured notes payable	11,384	12,370
Other liabilities	140	123
B C F R P Realty L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	22,470	22,747
B C F R P Realty L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	5,473	5,127
B C F R P Realty L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	5,473	5,127
B C F R P Realty L L C [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	22,470	22,747
Hyde Park [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net		591
Cash and cash equivalents		0
Unrealized rents & receivables		0
Deferred costs		0
Secured notes payable		0
Other liabilities		0
Hyde Park [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets		591
Hyde Park [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP		591
Hyde Park [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties		0
Hyde Park [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital		591
Amber Ridge Loan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	11,466	10,026
Cash and cash equivalents	0	0
Unrealized rents & receivables	0	0
Deferred costs	0	0
Secured notes payable	0	0
Other liabilities	0	0
Amber Ridge Loan [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	11,466	10,026
Amber Ridge Loan [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	11,466	10,026
Amber Ridge Loan [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	0	0
Amber Ridge Loan [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	11,466	10,026
Apartment Mixed Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	424,495	404,796
Cash and cash equivalents	2,657	21,504
Unrealized rents & receivables	3,974	848
Deferred costs	667	3,697
Secured notes payable	211,251	168,520
Other liabilities	28,113	33,975
Apartment Mixed Use [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	431,793	430,845
Apartment Mixed Use [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	115,040	151,549
Apartment Mixed Use [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	77,389	76,801
Apartment Mixed Use [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 431,793	$ 430,845

Bryant Street Partnerships (Det

Bryant Street Partnerships (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Rental Revenue	$ 21,755	$ 14,106	$ 14,318
Total Revenues	31,220	23,583	23,756
Property taxes	3,751	2,826	2,941
Total cost of operations	6,219	3,333	4,134
Total operating profit (loss)	2,274	5,134	5,756
Interest expense	(2,304)	(1,100)	(1,054)
Net loss before tax	50,375	$ 14,929	$ 11,784
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue	1,458
Revenue – other	195
Total Revenues	1,653
Depreciation and amortization	1,744
Operating expenses	1,941
Property taxes	244
Total cost of operations	3,929
Total operating profit (loss)	(2,276)
Interest expense	(2,678)
Net loss before tax	(4,954)
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue	2,376
Revenue – other	318
Total Revenues	2,694
Depreciation and amortization	2,842
Operating expenses	3,163
Property taxes	398
Total cost of operations	6,403
Total operating profit (loss)	(3,709)
Interest expense	(2,375)
Net loss before tax	$ (6,084)

Investments in Joint Ventures_3

Investments in Joint Ventures (Details Narrative)	Dec. 31, 2021USD ($)	Oct. 08, 2021USD ($)Integer	Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Difference between carrying value and underlying equity	$ 5,461,000
Retained earnings (accumulated deficit)	$ (8,942,000)		$ (8,278,000)
Aberdeen Station [Member]
Schedule of Equity Method Investments [Line Items]
Loan commitment		$ 31,100,000
Interest rate		10.00%
Preferred return		20.00%
Number of units | Integer		344

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Charges and/or allocation from Patriot	$ 1,025,000	$ 1,305,000

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Fixed rate mortgage loans, 3.03% interest only, matures 4/1/2033	$ 180,070	$ 90,000
Unamortized debt issuance costs	(1,661)	(36)
Credit agreement	0	0
Long term debt	$ 178,409	$ 89,964
Mortgages [Member]
Debt Instrument [Line Items]
Interest rate	3.03%

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2021	Dec. 31, 2017	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 19, 2021	Feb. 06, 2019	Nov. 17, 2017
Line of Credit Facility [Line Items]
2022				$ 0
2023				0
2024				0
2025				0
2026 and subsequent years				180,070,000
Outstanding letters of credit				506,000
Principal sum				178,409,000	$ 89,964,000
Debt cost amortization				150,000
Capitalized interest costs				$ 3,783,000	$ 3,762,000
Dock 79 Eagle Bank [Member]
Line of Credit Facility [Line Items]
Loan term			120 months
Principal sum									$ 90,000,000
Fixed interest rate									4.125%
Prepayment penalty		$ 900,000
Dock 79 Loan [Member]
Line of Credit Facility [Line Items]
Principal sum							$ 92,070,000
Fixed interest rate							3.03%
Debt description	Either loan may be prepaid subsequent to April 1, 2024, subject to yield maintenance premiums. Either loan may be transferred to a qualified buyer as part of a one-time sale subject to a 60% loan to value, minimum of 7.5% debt yield and a 0.75% transfer fee
Maren [Member]
Line of Credit Facility [Line Items]
Principal sum							$ 88,000,000
Fixed interest rate							3.03%
Debt description	Either loan may be prepaid subsequent to April 1, 2024, subject to yield maintenance premiums. Either loan may be transferred to a qualified buyer as part of a one-time sale subject to a 60% loan to value, minimum of 7.5% debt yield and a 0.75% transfer fee
Wells Fargo Level I [Member]
Line of Credit Facility [Line Items]
Interest rate spread				1.50%
Commitment fee				0.25%
Wells Fargo Level I I [Member]
Line of Credit Facility [Line Items]
Interest rate spread				1.25%
Commitment fee				0.20%
Wells Fargo Level I I I [Member]
Line of Credit Facility [Line Items]
Interest rate spread				1.00%
Commitment fee				0.15%
Wells Fargo [Member]
Line of Credit Facility [Line Items]
Loan term						5 years
Maximum facility amount								$ 20,000,000
Outstanding revolver				$ 0
Outstanding letters of credit				506,000
Available for borrowing				$ 19,494,000
Letter of credit fee				1.00%
Applicable interest rate				1.10425%
Dividend limit				$ 246,000,000
Covenant compliance				all

Carrying value of property owne

Carrying value of property owned by the Company which is leased or held for lease (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
Construction aggregates property	$ 35,076
Commercial property	76,580
Residential/mixed use property	293,821
Carrying Value of property owned by the Company leased or held for lease, gross	405,477
Less accumulated depreciation and depletion	46,270
Carrying Value of property owned by the Company leased or held for lease, net	$ 359,207

Leases (Details Narrative)

Leases (Details Narrative)	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 15,610,000
2023	5,115,000
2024	4,924,000
2025	4,561,000
2026	3,606,000
2027 and subsequent years	$ 16,691,000

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Weighted average common shares outstanding during the period – shares used for basic earnings per common share	9,355	9,580	9,883
Common shares issuable under share based payments plans which are potentially dilutive	42	29	43
Common shares used for diluted earnings per common share	9,397	9,609	9,926
Income from continuing operations	$ 40,094	$ 11,722	$ 8,822
Discontinued operations	0	0	6,856
Net income attributable to the Company	$ 28,215	$ 12,715	$ 16,177
Basic earnings per common share:
Income from continuing operations	$ 4.29	$ 1.22	$ 0.89
Discontinued operations	0	0	0.69
Net income attributable to the Company	3.02	1.33	1.64
Diluted earnings per common share:
Income from continuing operations	4.27	1.22	0.89
Discontinued operations	0	0	0.69
Net income attributable to the Company	$ 3	$ 1.32	$ 1.63

Earnings per Share (Details Nar

Earnings per Share (Details Narrative) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Anti-dilutive shares	6,680	53,545
Shares repurchased	6,004	510,145	169,251
Average cost of shares repurchased	$ 43.95	$ 41.78	$ 48.51

Stock compensation expense (Det

Stock compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation	$ 1,111	$ 1,372	$ 232
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation	69	92	112
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation	492	250	0
Employee Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation	50	530	0
Share-based Payment Arrangement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation	0	0	50
Director Stock Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation	$ 500	$ 500	$ 70

Summary of changes in outstandi

Summary of changes in outstanding options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding	104,755
Options outstanding weighted avg exercise price	$ 37.93
Outstanding remaining term	4 years 9 months 17 days
Options exercisable, shares	96,586
Options exercisable, weighted avg exercise price	$ 37.26
Options exercisable remaining term	4 years 8 months 11 days
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding	104,755	120,089	132,504	147,538
Options outstanding weighted avg exercise price	$ 37.93	$ 35.33	$ 33.82	$ 33.48
Outstanding remaining term	4 years 9 months 17 days	5 years 3 months 18 days	5 years 9 months 17 days	6 years 8 months 11 days
Options outstanding, weighted avg grant date fair value	$ 1,416	$ 1,531	$ 1,631	$ 1,782
Options exercised, shares	(15,334)	(12,415)	(15,034)
Options exercised, weighted avg exercise price	$ 17.54	$ 19.23	$ 30.42
Options exercised, weighted avg grant date fair value	$ (115)	$ (100)	$ (151)
Options exercisable, shares	96,586
Options exercisable, weighted avg exercise price	$ 37.26
Options exercisable, weighted avg grant date fair value	$ 1,281
Options vested, shares	4,179
Options vested, weighted avg grant date fair value	$ 69

Summary of stock options outsta

Summary of stock options outstanding (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Remaining life	4 years 8 months 11 days
Shares exercisable | shares	96,586
Weighted average exercise price | $ / shares	$ 37.26
Shares exercisable | shares	104,755
Weighted average exercise price | $ / shares	$ 37.93
Remaining life	4 years 9 months 17 days
Forty Four Point Thirty One To Forty Five Point Ninety Seven [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable, nonvested | shares	8,169
Weighted average exercise price | $ / shares	$ 45.94
Remaining life, nonvested	6 years 10 months 23 days
Shares exercisable | shares	45,376
Weighted average exercise price | $ / shares	$ 45.19
Remaining life	6 years 4 months 24 days
Nineteen Point Sixty Eight To Twenty Nine Point Fifty Two [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable | shares	20,080
Weighted average exercise price | $ / shares	$ 22.66
Remaining life	1 year 8 months 12 days
Twenty Nine Point Fifty Three To Forty Four Point Thirty [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable | shares	31,130
Weighted average exercise price | $ / shares	$ 35.11
Remaining life	4 years

Summary of changes in restricte

Summary of changes in restricted stock awards (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock			46,074	20,520	0
Restricted stock			$ 45.88	$ 46.30	$ 0
Restricted stock			$ 2,114	$ 950	$ 0
Restricted stock			3 years 1 month 5 days	3 years 4 months 25 days
Restricted stock, vested			(2,224)
Restricted stock			$ 45.55
Restricted stock			$ (101)
Performance Based Awards Granted [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock	18,882	20,520	18,882	20,520
Restricted stock			$ 45.55	$ 46.30
Restricted stock			$ 860	$ 950
Time Based Awards Granted [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock	8,896		8,896
Restricted stock			$ 45.55
Restricted stock			$ 405

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details Narrative)	3 Months Ended		12 Months Ended
	Mar. 31, 2021shares	Mar. 31, 2020shares	Dec. 31, 2021USD ($)Integer$ / sharesshares	Dec. 31, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans | Integer			2
Expiration period			10 years
Vesting rights			exercisable immediately or become exercisable in cumulative installments of 20% or 25%
Dividend yield			0.00%
Minimum volatility			29.00%
Maximum volatility			41.00%
Risk-free interest rate minimum			1.00%
Risk-free interest rate maximum			2.90%
Expected life minimum			3 years
Expected life maximum			7 years
Shares available | shares			403,499
Intrinsic value			$ 1,984,000
Intrinsic value			$ 2,081,000
Closing price | $ / shares			$ 57.80
Gains			$ 602,000
Time Based Awards Granted [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted | shares	8,896		8,896
Vesting period	4 years
Performance Based Awards Granted [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted | shares	18,882	20,520	18,882	20,520
Vesting period	5 years	5 years
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock grants | shares	1,098	11,448
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 129,000
Recognition period			1 year 10 months 24 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 1,259,000
Recognition period			3 years 4 months 25 days

Provision for income tax expens

Provision for income tax expense included in the financial statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Continuing operations	$ 10,281	$ 3,207	$ 2,962
Discontinued operations	0	0	2,542
Income tax expense benefit	10,281	3,207	5,504
Comprehensive income	(209)	(92)	602
Total tax expense	$ 10,072	$ 3,115	$ 6,106

Provision for income taxes (Det

Provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal	$ 305	$ (2,667)	$ (8,225)
State	1,826	(213)	(7,799)
Current income tax expense	2,131	(2,880)	(16,024)
Deferred	7,941	5,995	22,130
Total	$ 10,072	$ 3,115	$ 6,106

Reconciliation between the amou

Reconciliation between the amount of tax shown above and the amount computed at the statutory Federal income tax (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal rate		$ 7,941,000	$ 3,226,000	$ 5,006,000
State income taxes (net of Federal   income tax benefit)		2,634,000	1,048,000	1,623,000
Carryback of net operating loss	$ (1,100,000)	0	(1,100,000)	0
Other, net		(503,000)	(59,000)	(523,000)
Provision for income taxes		$ 10,072,000	$ 3,115,000	$ 6,106,000

Deferred tax assets and deferre

Deferred tax assets and deferred tax liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Property and equipment	$ 38,143	$ 56,314	$ 49,932
Investment in opportunity zone	30,846	0	0
Depletion	704	708	718
Unrealized rents	58	27	27
Prepaid expenses	36	50	76
Gross deferred tax liabilities	69,787	57,099	50,753
Federal tax loss carryforwards	3,235	0	0
State tax loss carryforwards	1,388	0	0
Employee benefits and other	1,117	993	642
Gross deferred tax assets	5,740	993	642
Net deferred tax liability	$ 64,047	$ 56,106	$ 50,111

NOL Carryovers (Details)

NOL Carryovers (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
State NOL Carryovers	$ 23,111,156	$ 3,863,571
Federal NOL Carryovers	$ 15,406,397	$ 0

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2016
Net Investment Income [Line Items]
Carryback of 2020 tax net operating loss	$ 1,100,000	$ 0	$ 1,100,000	$ 0
Federal tax rate					35.00%
Provision to return adjustment				18,000,000
Current tax provision before adjustments				2,000,000
Net current tax benefit				16,000,000
Deferred taxes		31,000,000
Gains on sales reinvested		$ 112,000,000
Deferred tax terms		These taxes are deferred until the earlier of the sale of the related investments or December 31, 2026 and 10% of gains are excluded from tax once the investments are held five years plus an additional 5% is excluded at seven years
Opportunity Zone 50 Million [Member]
Net Investment Income [Line Items]
Provision to return adjustment				13,797,000
Opportunity zone investment funds				50,000,000
Opportunity Zone 55 Million [Member]
Net Investment Income [Line Items]
Opportunity zone investment funds				55,000,000
State tax related gains				$ 4,213,000

Employee Benefits (Details Narr

Employee Benefits (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Company 401k contribution	50.00%
Company's contribution cost	$ 49,000	$ 43,000
Deferred compensation plan expense	8,000	2,000
MSP accrued benefit liability	$ 1,302,000	$ 1,252,000

Operating results and certain o

Operating results and certain other financial data for the Company’s business segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 31,220	$ 23,583	$ 23,756
Operating profit before corporate expenses	5,345	8,645	8,312
Corporate expenses	(3,071)	(3,511)	(2,556)
Operating profit	2,274	5,134	5,756
Interest expense	2,304	1,100	1,054
Depreciation, depletion and amortization	12,946	6,050	6,158
Capital expenditures	16,530	17,544	10,434
Asset Management [Member]
Segment Reporting Information [Line Items]
Revenues	2,575	2,747	2,190
Operating profit before corporate expenses	612	907	196
Corporate expenses	(843)	(909)	(646)
Depreciation, depletion and amortization	578	652	708
Capital expenditures	852	924	9,487
Mining Properties [Member]
Segment Reporting Information [Line Items]
Revenues	9,465	9,477	9,438
Operating profit before corporate expenses	8,558	8,629	8,690
Corporate expenses	(318)	(288)	(169)
Depreciation, depletion and amortization	199	218	177
Capital expenditures	522	0	0
Development [Member]
Segment Reporting Information [Line Items]
Revenues	1,563	1,152	1,164
Operating profit before corporate expenses	(2,548)	(2,576)	(2,817)
Corporate expenses	(1,557)	(2,108)	(1,581)
Depreciation, depletion and amortization	208	214	214
Capital expenditures	14,242	16,547	631
Stabilized Joint Venture [Member]
Segment Reporting Information [Line Items]
Revenues	17,617	10,207	10,964
Operating profit before corporate expenses	(1,277)	1,685	2,243
Corporate expenses	(353)	(206)	(160)
Depreciation, depletion and amortization	11,752	4,744	4,756
Capital expenditures	914	73	316
Total Segments [Member]
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	$ 12,737	$ 5,828	$ 5,855

Identifiable net assets (Detail

Identifiable net assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Assets	$ 678,190	$ 536,360	$ 538,148
Investments available for sale	4,317	75,609	137,867
Cash	162,273	74,105	26,793
Asset Management [Member]
Segment Reporting Information [Line Items]
Assets	23,897	11,172	18,468
Mining Properties [Member]
Segment Reporting Information [Line Items]
Assets	37,627	37,387	38,409
Development [Member]
Segment Reporting Information [Line Items]
Assets	176,386	196,212	179,357
Stabilized Joint Venture [Member]
Segment Reporting Information [Line Items]
Assets	266,429	130,472	133,956
Unallocated Corporate Assets [Member]
Segment Reporting Information [Line Items]
Assets	$ 7,261	$ 11,403	$ 3,298

Business Segments (Details Narr

Business Segments (Details Narrative)	12 Months Ended
	Dec. 31, 2021aInteger	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	May 21, 2018USD ($)Integer
Segment Reporting Information [Line Items]
Reportable segments	4
warehouse property	2
Industrial acquisition	1
Brooksville land under lease | a	15,000
Discontinued Operations, Disposed of by Sale [Member]
Segment Reporting Information [Line Items]
warehouse property				40
land parcels				3
Sale of excluded property | $		$ 11,700,000	$ 347,200,000
Discontinued Operations, Held-for-sale [Member]
Segment Reporting Information [Line Items]
warehouse property				1
Property value excluded from sale | $				$ 11,700,000
Brooksville Joint Venture [Member]
Segment Reporting Information [Line Items]
Brooksville land under lease | a	4,280

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)Integer	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value Disclosures [Abstract]
Number of corporate bonds invested | Integer	2
Value of bonds	$ 4,266,000
US Treasury notes value	24,926,000
Unrealized loss on investments	42,000
Realized gains or losses on bonds matured	0	$ 298,000	$ 949,000
Carrying amount of mortgage notes payable	180,070,000	90,000,000
FV of mortgage notes payable	$ 174,111,000	$ 96,187,000

Contingent Liabilities (Details

Contingent Liabilities (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)
Guarantor Obligations [Line Items]
Outstanding letters of credit	$ 506,000
Guarantee Obligations [Member]
Guarantor Obligations [Line Items]
Guarantee obligation	$ 26,000,000
Interest rate reduction	1.00%
Value of guarantee	$ 1,900,000
Term in months	48

Commitments (Details Narrative)

Commitments (Details Narrative)	Dec. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Commitments to develop and maintain real estate	$ 6,074,000

Concentrations (Details Narrati

Concentrations (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)Integer	Dec. 31, 2020USD ($)
Concentration Risk [Line Items]
Number of mining tenants | Integer	5
Accounts receivable	$ 793,000	$ 923,000
Mining Top Customer [Member]
Concentration Risk [Line Items]
Top lessee rent percent of revenue	23.00%
Accounts receivable	$ 278,000

Unusual or Infrequent Items I_2

Unusual or Infrequent Items Impacting Quarterly Results (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2016
Other Ownership Interests [Line Items]
Remeasurement gain	$ 51,139,000		$ 51,139,000	$ 0	$ 0
Carryback of tax net operating loss		$ 1,100,000	$ 0	$ 1,100,000	$ 0
Federal tax rate						35.00%
M R P [Member]
Other Ownership Interests [Line Items]
Remeasurement gain	$ 13,965,000

Acquired Lease Intangibles (Det

Acquired Lease Intangibles (Details) - Leases, Acquired-in-Place [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
In-place leases	$ 9,660	$ 4,910
Accumulated amortization	(8,798)	(4,852)
Acquired intangible assets, net	$ 862	$ 58

Estimated Aggregate Amortizatio

Estimated Aggregate Amortization (Details) $ in Thousands	Dec. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 559
2023	29
2024	29
2025	29
2026	$ 29

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 3,946,000	$ 46,000

Results of operations associate

Results of operations associated with discontinued operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Lease Revenues	$ 21,755	$ 14,106	$ 14,318
Operating expenses	6,219	3,333	4,134
Property taxes	3,751	2,826	2,941
Management company indirect	3,168	2,951	2,514
Corporate expenses	3,071	3,511	2,556
Total operating profit	2,274	5,134	5,756
Interest expense	2,304	1,100	1,054
Income before income taxes	50,375	14,929	11,784
Provision for (benefit from) income taxes	10,281	3,207	2,962
Income from discontinued operations	$ 0	$ 0	6,856
Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Lease Revenues			460
Depreciation, depletion and amortization			17
Operating expenses			248
Property taxes			41
Management company indirect			0
Corporate expenses			0
Total cost of operations			306
Total operating profit			154
Interest expense			0
Gain on sale of buildings			9,244
Income before income taxes			9,398
Provision for (benefit from) income taxes			2,542
Income from discontinued operations			$ 6,856

Discontinued Operations (Detail

Discontinued Operations (Details Narrative)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2021Integer	May 21, 2018USD ($)Integer
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
warehouse property			2
Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
warehouse property				40
Land parcels				3
Sale of excluded property | $	$ 11,700,000	$ 347,200,000
Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
warehouse property				1
Property value excluded from sale | $				$ 11,700,000