FRP (FRPH) 10-K 26 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 17, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
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			$ 426,117,700
Entity Common Stock, Shares Outstanding		9,500,300
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Name	Hancock Askew & Co., LLP
Auditor Location	Jacksonville, Florida
Auditor Firm ID	794

CONOLIDATED STATEMENTS OF INCOM

CONOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Lease revenue	$ 28,979,000	$ 26,798,000	$ 21,755,000
Mining Royalty and rents	12,527,000	10,683,000	9,465,000
Total Revenues	41,506,000	37,481,000	31,220,000
Cost of operations:
Depreciation, depletion and amortization	10,821,000	11,217,000	12,737,000
Operating expenses	7,364,000	7,065,000	6,219,000
Property taxes	3,650,000	4,125,000	3,751,000
Management company indirect	3,969,000	3,416,000	3,168,000
Corporate expenses (Note 3 Related Party)	4,002,000	3,662,000	3,071,000
Total cost of operations	29,806,000	29,485,000	28,946,000
Total operating profit	11,700,000	7,996,000	2,274,000
Net investment income	10,897,000	5,473,000	4,215,000
Interest expense	(4,315,000)	(3,045,000)	(2,304,000)
Equity in loss of joint ventures	(11,937,000)	(5,721,000)	(5,754,000)
Gain on remeasurement of investment in real estate partnership	0	0	51,139,000
Gain on sale of real estate and other income	53,000	874,000	805,000
Income before income taxes	6,398,000	5,577,000	50,375,000
Provision for income taxes	1,516,000	1,530,000	10,281,000
Net income	4,882,000	4,047,000	40,094,000
(Loss) gain attributable to noncontrolling interest	(420,000)	(518,000)	11,879,000
Net income attributable to the Company	$ 5,302,000	$ 4,565,000	$ 28,215,000
Earnings per common share:
Basic	$ 0.56	$ 0.49	$ 3.02
Diluted	$ 0.56	$ 0.48	$ 3
Number of shares (in thousands) used in computing:
-basic earnings per common share	9,420	9,386	9,355
-diluted earnings per common share	9,461	9,435	9,397

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net income	$ 4,882	$ 4,047	$ 40,094
Other comprehensive income (loss) net of tax:
Unrealized gain (loss) on investments, net of income tax effect of $563, $(504) and $(194)	1,341	(1,358)	(524)
Minimum pension liability, net of income tax effect of $(12), $(11) and $(15)	(30)	(31)	(38)
Comprehensive income	6,193	2,658	39,532
Less comp. income (loss) attributable to noncontrolling interest	(420)	(518)	11,879
Comprehensive income attributable to the Company	$ 6,613	$ 3,176	$ 27,653

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Income tax effect on UR loss	$ 563	$ (504)	$ (194)
Tax effect on pension liability	$ (12)	$ (11)	$ (15)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real estate investments at cost:
Land	$ 141,602	$ 141,579
Buildings and improvements	282,631	270,579
Projects under construction	10,845	12,208
Total investments in properties	435,078	424,366
Less accumulated depreciation and depletion	67,758	57,208
Net investments in properties	367,320	367,158
Real estate held for investment, at cost	10,662	10,182
Investments in joint ventures	166,066	140,525
Net real estate investments	544,048	517,865
Cash and cash equivalents	157,555	177,497
Cash held in escrow	860	797
Accounts receivable, net	1,046	1,166
Federal and state income taxes receivable	337	0
Unrealized rents	1,640	856
Deferred costs	3,091	2,343
Other assets	589	560
Total assets	709,166	701,084
Liabilities:
Secured notes payable	178,705	178,557
Accounts payable and accrued liabilities	8,333	5,971
Other liabilities	1,487	1,886
Federal and state income taxes payable	0	18
Deferred revenue	925	259
Deferred income taxes	69,456	67,960
Deferred compensation	1,409	1,354
Tenant security deposits	875	868
Total liabilities	261,190	256,873
Commitments and contingencies
Equity:
Common stock, $.10 par value 25,000,000 shares authorized, 9,484,224 and 9,459,686 shares issued and outstanding, respectively	948	946
Capital in excess of par value	67,655	65,158
Retained earnings	345,882	342,317
Accumulated other comprehensive income, net	35	(1,276)
Total shareholders’ equity	414,520	407,145
Noncontrolling interests	33,456	37,066
Total equity	447,976	444,211
Total liabilities and equity	$ 709,166	$ 701,084

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	25,000,000	25,000,000
Common stock, outstanding	9,484,224	9,459,686
Common shares, issued	9,484,224	9,459,686

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 4,882,000	$ 4,047,000	$ 40,094,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	10,975,000	11,462,000	12,946,000
Deferred income taxes	1,496,000	1,813,000	7,941,000
Gain on remeasurement of invest in real estate partnership	0	0	(51,139,000)
Equity in loss of joint ventures	11,937,000	5,721,000	5,754,000
Gain on sale of equipment and property	(14,000)	(904,000)	(880,000)
Stock-based compensation	1,738,000	1,569,000	1,111,000
Net changes in operating assets and liabilities:
Accounts receivable	120,000	(373,000)	837,000
Deferred costs and other assets	(499,000)	(1,972,000)	(346,000)
Accounts payable and accrued liabilities	3,028,000	(276,000)	1,888,000
Income taxes payable and receivable	(355,000)	1,121,000	3,518,000
Other long-term liabilities	(337,000)	130,000	518,000
Net cash provided by operating activities	32,971,000	22,338,000	22,242,000
Cash flows from investing activities:
Investments in properties	(11,217,000)	(27,615,000)	(16,530,000)
Investments in joint ventures	(46,693,000)	(21,578,000)	(13,436,000)
Return of capital from investments in joint ventures	9,210,000	20,770,000	22,279,000
Proceeds from sales of investments available for sale	0	4,317,000	69,865,000
Cash at consolidation of real estate partnership	0	0	3,704,000
Cash held in escrow	(63,000)	(45,000)	(220,000)
Proceeds from sale of assets	16,000	955,000	939,000
Net cash (used in) provided by investing activities	(48,747,000)	(23,196,000)	66,601,000
Cash flows from financing activities:
Proceeds from long-term debt	0	0	92,070,000
Repayment of long-term debt	0	0	(90,000,000)
Debt issue costs	0	0	(704,000)
Contribution from partner	0	27,894,000	0
Distribution to noncontrolling interest	(3,190,000)	(11,472,000)	(2,602,000)
Repurchase of company stock	(2,000,000)	0	(264,000)
Exercise of employee stock options	1,024,000	412,000	269,000
Net cash (used in) provided by financing activities	(4,166,000)	16,834,000	(1,231,000)
Net (decrease) increase in cash and cash equivalents	(19,942,000)	15,976,000	87,612,000
Cash and cash equivalents at beginning of year	177,497,000	161,521,000	73,909,000
Cash and cash equivalents at end of the year	157,555,000	177,497,000	161,521,000
Supplemental disclosures of cash flow information:
Interest	4,165,000	2,893,000	2,150,000
Income taxes	$ 927,000	$ (1,761,000)	$ (1,226,000)

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, 2020	$ 936	$ 56,279	$ 309,764	$ 675	$ 367,654	$ 14,999	$ 382,653
Common shares outstanding at Dec. 31, 2020	9,363,717
Exercise of stock options	$ 2	267	0	0	269	0	269
Stock options exercised	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
Director shares granted	9,105
Restricted stock award	$ 3	(3)	0	0	0	0	0
Restricted shares awarded	27,778
Shares purchased and cancelled	$ (1)	(36)	(227)	0	(264)	0	(264)
Stock Repurchased During Period, Shares	(6,004)
Contributions from partner	$ 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 gains on investment, net	0	0	0	(524)	(524)	0	(524)
Ending balance, value at Dec. 31, 2021	$ 941	57,617	337,752	113	396,423	28,827	425,250
Common shares outstanding at Dec. 31, 2021	9,411,028
Exercise of stock options	$ 2	410	0	0	412	0	412
Stock options exercised	16,460
Stock option grant compensation	$ 0	69	0	0	69	0	69
Restricted stock compensation	0	800	0	0	800	0	800
Shares granted to Employee	$ 0	50	0	0	50	0	50
Shares granted to Employee	865
Shares granted to Directors	$ 1	649	0	0	650	0	650
Director shares granted	11,232
Restricted stock award	$ 2	(2)	0	0	0	0	0
Restricted shares awarded	21,464
Contributions from partner	$ 0	0	0	0	0	27,894	27,894
Net income	0	0	4,565	0	4,565	(518)	4,047
Distributions to partners	0	0	0	0	0	(11,472)	(11,472)
Minimum pension liability, net	0	0	0	(31)	(31)	0	(31)
Unrealized gains on investment, net	0	0	0	(1,358)	(1,358)	0	(1,358)
Forfeiture of restricted stock award	$ 0	0	0	0	0	0	0
Restricted stock forfeited	(1,363)
Reallocation of partners’ interest	$ 0	7,665	0	0	7,665	(7,665)	0
Reallocation income tax expense	0	(2,100)	0	0	(2,100)	0	(2,100)
Ending balance, value at Dec. 31, 2022	$ 946	65,158	342,317	(1,276)	407,145	37,066	$ 444,211
Common shares outstanding at Dec. 31, 2022	9,459,686						9,459,686
Exercise of stock options	$ 2	1,022	0	0	1,024	0	$ 1,024
Stock options exercised	24,855
Stock option grant compensation	$ 0	60	0	0	60	0	60
Restricted stock compensation	0	1,028	0	0	1,028	0	1,028
Shares granted to Employee	$ 0	50	0	0	50	0	50
Shares granted to Employee	928
Shares granted to Directors	$ 1	599	0	0	600	0	600
Director shares granted	10,380
Restricted stock award	$ 3	(3)	0	0	0	0	0
Restricted shares awarded	25,284
Shares purchased and cancelled	$ (4)	(259)	(1,737)	0	(2,000)	0	(2,000)
Stock Repurchased During Period, Shares	(36,909)
Net income	$ 0	0	5,302	0	5,302	(420)	4,882
Distributions to partners	0	0	0	0	0	(3,190)	(3,190)
Minimum pension liability, net	0	0	0	(30)	(30)	0	(30)
Unrealized gains on investment, net	0	0	0	1,341	1,341	0	1,341
Ending balance, value at Dec. 31, 2023	$ 948	$ 67,655	$ 345,882	$ 35	$ 414,520	$ 33,456	$ 447,976
Common shares outstanding at Dec. 31, 2023	9,484,224						9,484,224

Accounting Policies

Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Accounting Policies	1. Accounting Policies ORGANIZATION th 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 and joint ventures of each. 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 Investment Partners 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. In 2022 we sold a 20 CASH AND CASH EQUIVALENTS INVESTMENTS AVAILABLE FOR SALE no REVENUE AND EXPENSE RECOGNITION Mining royalty revenues are recognized when the performance obligation is satisfied which is when the sand or stone mined and processed by the lessee is sold and removed from the property. Our typical mining lease requires the tenant to pay the Company a monthly royalty in arrears based on the number of tons of mined materials sold from our mining property multiplied by a percentage of the average annual sales price per ton sold from the prior fiscal year. In certain locations, typically where the sand and stone deposits on the property have been depleted but the tenant still has a need for the leased land, we collect a minimum annual rental amount but this is not the predominant component of mining royalties revenues. As such both mining royalty revenues and minimum annual rents are recognized as revenues from contracts with customers. Mining royalty revenues accounts receivable were $ 465,000 618,000 388,000 325,000 47,000 249,000 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 expense is computed on the basis of units of production in relation to estimated sand and stone deposits. Remaining sand and stone deposit estimates are periodically adjusted based upon surveys. The Company recorded depreciation and depletion expenses for fiscal year 2023, 2022 and 2021, of $ 10,668,000 10,618,000 8,806,000 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 excess of 50% INCOME TAXES differences between pre-tax income reported in the financial statements and taxable income. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit. The second step is to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the amounts rely upon the determination of the probability of various possible outcomes. The Company reevaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, 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 estimated remaining sand and stone deposits, 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 (FASB) issued Accounting Standards Update (ASU) 2016 - 13, "Financial Instruments - Credit Losses," which introduced new guidance for an approach based on expected losses to estimate credit losses on certain types of financial instruments. This standard was effective for the Company as of January 1, 2023. There was no impact on our financial statements at adoption.

Investments in Joint Ventures

Investments in Joint Ventures	12 Months Ended
	Dec. 31, 2023
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. 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, 2023 Brooksville Quarry, LLC 50.00 % $ 7,552 14,439 (82 ) (41 ) BC FRP Realty, LLC 50.00 % 5,039 22,454 (632 ) (316 ) Buzzard Point Sponsor, LLC 50.00 % 2,326 4,652 — — Bryant Street Partnerships 61.36 % 71,786 202,634 (10,296 ) (4,558 ) Lending ventures 27,695 17,117 — — Estero Partnership 16.00 % 3,600 38,652 — — Verge Partnership 61.37 % 36,665 130,173 (9,039 ) (5,547 ) Greenville Partnerships 40.00 % 11,403 98,223 (3,687 ) (1,475 ) Total $ 166,066 528,344 (23,736 ) (11,937 ) The Company is currently negotiating with MRP concerning an ownership adjustment related to the Bryant Street stabilization and conversion of FRP preferred equity to common equity which will be effective in 2024. The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2023, are summarized in the following two tables (in thousands): Investments in Multifamily Joint Ventures as of December 31, 2023 As of December 31, 2023 Buzzard Point Bryant Street Estero Verge Greenville Total Sponsor, LLC Partnership Partnership Partnership Partnership Multifamily Investments in real estate, net $ 0 187,616 35,576 128,154 95,911 $ 447,257 Cash and restricted cash 0 7,543 3,076 1,323 2,000 13,942 Unrealized rents & receivables 0 6,737 0 403 127 7,267 Deferred costs 4,652 738 0 293 185 5,868 Total Assets $ 4,652 202,634 38,652 130,173 98,223 $ 474,334 Secured notes payable $ 0 107,084 16,000 72,691 66,434 $ 262,209 Other liabilities 0 3,129 0 1,344 3,867 8,340 Capital – FRP 2,326 69,779 3,600 34,391 10,450 120,546 Capital – Third Parties 2,326 22,642 19,052 21,747 17,472 83,239 Total Liabilities and Capital $ 4,652 202,634 38,652 130,173 98,223 $ 474,334 Investments in Joint Ventures as of December 31, 2023 As of December 31, 2023 Brooksville BC FRP Lending Total Grand Quarry, LLC Realty, LLC Ventures Multifamily Total Investments in real estate, net $ 14,358 21,503 17,117 447,257 $ 500,235 Cash and restricted cash 80 127 0 13,942 14,149 Unrealized rents & receivables 0 464 0 7,267 7,731 Deferred costs 1 360 0 5,868 6,229 Total Assets $ 14,439 22,454 17,117 474,334 $ 528,344 Secured notes payable $ 0 12,086 (10,578 ) 262,209 $ 263,717 Other liabilities 0 402 0 8,340 8,742 Capital – FRP 7,552 4,983 27,695 120,546 160,776 Capital - Third Parties 6,887 4,983 0 83,239 95,109 Total Liabilities and Capital $ 14,439 22,454 17,117 474,334 $ 528,344 The Company’s capital recorded by the unconsolidated Joint Ventures is $ 5,291,000 The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2022 are summarized in the following two tables (in thousands): Investments in Multifamily Joint Ventures as of December 31, 2022 As of December 31, 2022 Buzzard Point Bryant Street Estero Verge Greenville Total Sponsor, LLC Partnership Partnership Partnership Partnership Multifamily Investments in real estate, net $ 0 192,904 33,008 130,616 95,883 $ 452,411 Cash and restricted cash 0 1,349 5,497 359 567 7,772 Unrealized rents & receivables 0 5,128 0 14 13 5,155 Deferred costs 2,906 393 0 139 88 3,526 Total Assets $ 2,906 199,774 38,505 131,128 96,551 $ 468,864 Secured notes payable $ 0 129,263 16,000 66,584 64,954 $ 276,801 Other liabilities 0 2,338 5 5,328 3,014 10,685 Capital - FRP 1,453 53,553 3,600 36,348 11,087 106,041 Capital – Third Parties 1,453 14,620 18,900 22,868 17,496 75,337 Total Liabilities and Capital $ 2,906 199,774 38,505 131,128 96,551 $ 468,864 Investments in Joint Ventures as of December 31, 2022 As of December 31, 2022 Brooksville BC FRP Lending Grand Quarry, LLC Realty, LLC Ventures Multifamily Total Investments in real estate, net $ 14,307 21,059 5,547 452,411 $ 493,324 Cash and restricted cash 66 99 0 7,772 7,937 Unrealized rents & receivables 0 422 0 5,155 5,577 Deferred costs 1 245 30 3,526 3,802 Total Assets $ 14,374 21,825 5,577 468,864 $ 510,640 Secured notes payable $ 0 10,899 (10,899 ) 276,801 $ 276,801 Other liabilities 0 338 0 10,685 11,023 Capital – FRP 7,522 5,294 16,476 106,041 135,333 Capital - Third Parties 6,852 5,294 0 75,337 87,483 Total Liabilities and Capital $ 14,374 21,825 5,577 468,864 $ 510,640 The amount of consolidated retained earnings (accumulated deficit) for these joint ventures was $ (21,823,000) (13,115,000) The income statements of the Bryant Street Partnerships Bryant Street Bryant Street Bryant Street Bryant Street Partnerships Partnerships Partnerships Partnerships Total JV Total JV Company Share Company Share Year ended Year ended Year ended Year ended December 31, December 31, December 31, December 31, 2023 2022 2023 2022 Revenues: Rental Revenue $ 12,633 $ 9,586 $ 7,751 $ 5,882 Revenue – other 2,237 1,766 1,373 1,084 Total Revenues 14,870 11,352 9,124 6,966 Cost of operations: Depreciation and amortization 7,009 6,737 4,301 4,134 Operating expenses 5,731 5,428 3,516 3,331 Property taxes 1,150 1,376 706 844 Total cost of operations 13,890 13,541 8,523 8,309 Total operating profit/(loss) 980 (2,189 ) 601 (1,343 ) Interest expense (11,276 ) (8,150 ) (5,159 ) (5,486 ) Net loss before tax $ (10,296 ) $ (10,339 ) $ (4,558 ) $ (6,829 ) The income statements of the Greenville Partnerships Greenville Greenville Greenville Greenville Partnerships Partnerships Partnerships Partnerships Total JV Total JV Company Share Company Share Year ended Year ended Year ended Year ended December 31, December 31, December 31, December 31, 2023 2022 2023 2022 Revenues: Rental Revenue $ 7,058 $ 3,146 $ 2,823 $ 1,259 Revenue – other 572 176 229 70 Total Revenues 7,630 3,322 3,052 1,329 Cost of operations: Depreciation and amortization 3,241 1,557 1,296 623 Operating expenses 2,399 1,207 960 483 Property taxes 1,687 778 675 311 Total cost of operations 7,327 3,542 2,931 1,417 Total operating profit/(loss) 303 (220 ) 121 (88 ) Interest expense (3,990 ) (1,113 ) (1,596 ) (445 ) Net loss before tax $ (3,687 ) $ (1,333 ) $ (1,475 ) $ (533 ) The income statements of the Verge Partnership Verge Verge Partnership Partnership Total JV Company Share Year ended Year ended December 31, December 31, 2023 2023 Revenues: Rental Revenue $ 3,575 $ 2,194 Revenue – other 537 330 Total Revenues 4,112 2,524 Cost of operations: Depreciation and amortization 4,006 2,458 Operating expenses 2,798 1,718 Property taxes 997 612 Total cost of operations 7,801 4,788 Total operating loss (3,689 ) (2,264 ) Interest expense (5,350 ) (3,283 ) Net loss before tax $ (9,039 ) $ (5,547 )

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
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, 2023. The consolidated statements of income reflect charges and/or allocation from Patriot for these services of $ 925,000 893,000 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, 2023
Debt Disclosure [Abstract]
Debt	4. Debt Debt December 31, December 31, 2023 2022 Fixed rate mortgage loans, 3.03% interest only, matures 4/1/2033 $ 180,070 180,070 Unamortized debt issuance costs (1,365 ) (1,513 ) Credit agreement — — Long term debt $ 178,705 178,557 The aggregate amount of principal payments, excluding the revolving credit, due subsequent to December 31, 2023 is: 2024 - $ 0 0 0 0 180,070,000 On December 22, 2023, the Company entered into a 2023 Amended and Restated Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, N.A. (“Wells Fargo”), effective December 22, 2023. The Credit Agreement modifies the Company’s prior Credit Agreement with Wells Fargo dated January 30, 2015. The Credit Agreement establishes a three 35 million 2.25 0.35 no 823,000 34,177,000 2.25 7.64 94 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 $ 148,000 148,000 The Company was in compliance with all

Leases

Leases	12 Months Ended
	Dec. 31, 2023
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 five 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 one or two 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 sand and stone deposits from our property in exchange for royalty payments. A typical lease has an option to extend the lease for additional terms. At December 31, 2023, the total Carrying value of property owned by the Company which is leased or held for lease to others Construction aggregates property $ 46,817 Commercial property 103,293 Residential/mixed-use property 294,975 Carrying Value of property owned by the Company leased or held for lease, gross 445,085 Less accumulated depreciation and depletion 67,266 Carrying Value of property owned by the Company leased or held for lease, net $ 377,819 The minimum future straight-lined rentals due the Company on noncancelable leases as of December 31, 2023 are as follows: 2024 - $ 16,684,000 6,527,000 6,144,000 4,679,000 3,830,000 30,830,000

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2023
Earnings per common share:
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 2023 2022 2021 Common shares: Weighted average common shares outstanding during the period – shares used for basic earnings per common share 9,420 9,386 9,355 Common shares issuable under share based payments plans which are potentially dilutive 41 49 42 Common shares used for diluted earnings per common share 9,461 9,435 9,397 Net income attributable to the Company $ 5,302 4,565 28,215 Earnings per common share: -basic $ 0.56 0.49 3.02 -diluted $ 0.56 0.48 3.00 For 2023 and 2022 the Company did not have any 6,680 During 2023 the Company repurchased 36,909 54.19 6,004 43.95

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2023
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% at the end of each year 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 31.53 41.17 2.0 2.9 5.0 7.0 The dividend yield of zero In January 2023, 7,980 four 15,032 five 2,272 7,448 four 14,016 five 8,896 four 18,882 five 344,077 928 865 1,098 The Company recorded the following Stock compensation expense Years Ended December 31, 2023 2022 2021 Stock option grants $ 60 69 69 Restricted stock awards 1,028 800 492 Employee stock grant 50 50 50 Annual director stock award 600 650 500 Stock compensation $ 1,738 1,569 1,111 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, 2021 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 Exercised (16,460 ) $ 25.07 $ (145 ) Outstanding at December 31, 2022 88,295 $ 40.33 4.4 $ 1,271 Exercised (24,855 ) $ 41.21 $ (290 ) Outstanding at December 31, 2023 63,440 $ 39.99 3.5 $ 981 Exercisable at December 31, 2023 63,440 $ 39.99 3.5 $ 981 Vested during twelve months ended December 31, 2023 3,990 $ 65 The following table summarizes information concerning Stock options outstanding Shares Weighted Weighted Range of Exercise under Average Average Prices per Share Option Exercise Price Remaining Life Exercisable: $26.96 - $33.70 15,630 28.95 1.4 $33.70 - $42.13 12,000 38.45 3.0 $42.13 - $45.97 35,810 45.32 4.5 Total 63,440 $ 39.99 3.5 Years The aggregate intrinsic value of exercisable in-the-money options was $ 1,452,000 1,452,000 62.88 Gains of $ 384,000 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, 2021 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 Time-based awards granted 7,448 57.80 431 Performance-based awards granted 14,016 57.80 810 Vested (15,679 ) 47.56 (746 ) Forfeited (1,363 ) 46.30 (63 ) Non-vested at December 31, 2022 50,496 $ 50.42 3.0 $ 2,546 Time-based awards granted 7,980 53.86 430 Performance-based awards granted 17,304 53.92 933 Vested (21,053 ) 48.06 (1,012 ) Non-vested at December 31, 2023 54,727 $ 52.94 2.8 $ 2,897 Total unrecognized compensation cost of restricted stock granted but not yet vested as of December 31, 2023 was $ 2,469,000 2.9 years

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The Provision for income tax expense Years Ended December 31, 2023 2022 2021 Included in Net income: Continuing operations $ 1,516 1,530 10,281 Comprehensive income 551 (515 ) (209 ) Total tax expense $ 2,067 1,015 10,072 The Provision for income taxes Year Ended December 31, 2023 2022 2021 Current: Federal $ 2 (214 ) 305 State 570 (571 ) 1,826 Current income tax expense 572 (785 ) 2,131 Deferred 1,495 1,800 7,941 Total $ 2,067 1,015 10,072 The deferred taxes are primarily related to the bonus depreciation on property placed in service. As of December 31, 2023 the company has deferred taxes of approximately $ 35 million 143 million These taxes are deferred until the earlier of the sale of the related investments or April 15, 2027 and 10% of gains are excluded from tax once the investments are held five years plus an additional 5% is excluded at seven year A reconciliation between the amount of tax shown above and the amount computed at the statutory Federal income tax rate follows (in thousands): Income tax reconciliation Year Ended December 31 2023 2022 2021 Amount computed at statutory Federal rate $ 1,812 924 7,941 State income taxes (net of Federal income tax benefit) 178 (30 ) 2,634 Other, net 77 121 (503 ) Provision for income taxes $ 2,067 1,015 10,072 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 effective state income tax rate in 2022 and 2023 was favorably impacted both by apportioned interest income in Florida and taxable losses in states with higher income tax rates. The types of temporary differences and their related tax effects that give rise to deferred tax assets and deferred tax liabilities are presented below (in thousands): Temporary tax differences December 31, 2023 2022 2021 Deferred tax liabilities: Property and equipment $ 42,317 41,866 38,143 Investment in opportunity zone 34,966 34,871 30,846 Depletion 706 697 704 Unrealized rents 385 150 58 Prepaid expenses and other 256 31 36 Gross deferred tax liabilities 78,630 77,615 69,787 Deferred tax assets: Federal tax loss carryforwards 3,153 6,375 3,235 State tax loss carryforwards 6,012 2,359 1,388 Employee benefits and other 9 921 1,117 Gross deferred tax assets 9,174 9,655 5,740 Net deferred tax liability $ 69,456 67,960 64,047 NOL Carryovers Years Ended Other Items - All Gross 12/31/2023 12/31/2022 State NOL Carryovers 49,278,000 38,169,000 Federal NOL Carryovers 28,637,000 30,358,000 The Company has no 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, 2023, the earliest tax year that remains open for audit is 2018. 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, 2023
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 59,000 54,000 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 2023 and 2022, was $ 12,000 10,000 1,409,000 1,354,000

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Business Segments	10. Business Segments The Company is reporting its financial performance based on four The Industrial and Commercial Segment owns, leases and manages in-service commercial properties wholly owned by the Company. Currently this includes nine two Our Mining Royalty Lands Segment owns several properties totaling approximately 16,650 4,280 Through our Development Segment, we own and are continuously assessing the highest and best use of 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 Multifamily 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 attributable to our partners are 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. Operating results and certain other financial data for the Company’s business segments Years Ended December 31, 2023 2022 2021 Revenues: Revenues Industrial and Commercial $ 5,354 3,681 2,575 Revenues Mining royalty lands 12,527 10,683 9,465 Revenues Development 1,801 1,674 1,563 Revenues Multifamily 21,824 21,443 17,617 Revenues $ 41,506 37,481 31,220 Operating profit: Before corporate expenses: Operating profit before corporate expenses Industrial and Commercial $ 2,551 1,592 612 Operating profit before corporate expenses Mining royalty lands 11,009 9,305 8,558 Operating profit before corporate expenses Development (1,954 ) (2,791 ) (2,548 ) Operating profit before corporate expenses Multifamily 4,096 3,552 (1,277 ) Operating profit before corporate expenses Operating profit before corporate expenses 15,702 11,658 5,345 Corporate expenses: Corporate expenses Allocated to Industrial and Commercial (787 ) (632 ) (843 ) Corporate expenses Allocated to Mining royalty lands (449 ) (414 ) (318 ) Corporate expenses Allocated to Development (2,387 ) (2,284 ) (1,557 ) Corporate expenses Allocated to Multifamily (379 ) (332 ) (353 ) Corporate expenses (4,002 ) (3,662 ) (3,071 ) Operating profit $ 11,700 7,996 2,274 Interest expense Interest expense $ 4,315 3,045 2,304 Depreciation, depletion and amortization: Depreciation, depletion and amortization Industrial and Commercial $ 1,374 907 578 Depreciation, depletion and amortization Mining royalty lands 497 586 199 Depreciation, depletion and amortization Development 182 189 208 Depreciation, depletion and amortization Multifamily 8,768 9,535 11,752 Depreciation, depletion and amortization $ 10,821 11,217 12,737 Capital expenditures: Capital expenditures Industrial and Commercial $ 664 1,284 852 Capital expenditures Mining royalty lands 2 11,218 522 Capital expenditures Development 9,990 14,521 14,242 Capital expenditures Multifamily 561 592 914 Capital expenditures $ 11,217 27,615 16,530 Identifiable net assets Identifiable net assets at end of period: Assets Industrial and Commercial $ 38,784 26,053 23,897 Assets Mining royalty lands 48,072 48,494 37,627 Assets Development 212,384 188,834 176,386 Assets Multifamily 249,750 257,535 266,429 Investments available for sale Investments available for sale at fair value — — 4,317 Cash Cash items 158,415 178,294 162,273 Assets Unallocated corporate assets 1,761 1,874 7,261 Assets $ 709,166 701,084 678,190

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
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, 2023, the Company was invested in U.S. Treasury notes valued at $ 128,795,000 1,000 At December 31, 2023 and 2022, 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, 2023, the carrying amount and fair value of such other long-term debt was $ 180,070,000 145,678,000 180,070,000 142,785,000

Contingent Liabilities

Contingent Liabilities	12 Months Ended
	Dec. 31, 2023
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, 2023, there was $ 823,000 The Company and MRP previously guaranteed $ 26 million 1 1.9 million 48 1.9 million The Company and MidAtlantic Realty Partners (MRP) provided a guaranty for the interest carry cost of $ 110 million 1.5 million the present value of the our assumption of 0.8 36 36 1.5 million

Commitments

Commitments	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments	13. Commitments The Company, at December 31, 2023, had entered into various contracts to develop and maintain real estate with remaining commitments totaling $ 16.8 million As of December 31, 2023, we had additional financing commitments to our residential development lending ventures totaling $ 11.7 million 6.5 million

Concentrations

Concentrations	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Concentrations	14. Concentrations The mining royalty lands segment has a total of five 24 289,000

Unusual or Infrequent Items Imp

Unusual or Infrequent Items Impacting Results	12 Months Ended
	Dec. 31, 2023
Unusual or Infrequent Items, or Both [Abstract]
Unusual or Infrequent Items Impacting Results	15. Unusual or Infrequent Items Impacting 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

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2023
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 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, 2023 2022 In-place leases $ 9,660 $ 9,660 Accumulated amortization $ (9,385 ) $ (9,357 ) Acquired intangible assets, net $ 275 $ 303 Amortization expense for in-place leases was $ 29,000 559,000 The Estimated aggregate amortization from acquired lease intangibles Amortization Year Ending of in-place December 31, lease intangibles 2024 $ 29 2025 29 2026 29 2027 29 2028 29

Contributions from partner

Contributions from partner	12 Months Ended
	Dec. 31, 2023
Contributions From Partner
Contributions from partner	17. Contributions from partner On November 4, 2022 the Company sold a 20 65.3 million 36.0 million 1.4 million 27.9 million 9.3 million 18.6 million 7.7 million 18.6 million 2.1 million

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events Subsequent to the end of the year, on March 6, 2024, FRP Holdings, Inc announced that it intends to effect a forward stock split of its common stock at a ratio of 2 post-split shares for every 1 pre-split share. The record date for the split will be April 1, 2024, and the payment date is April 12, 2024. The stock split will increase the number of issued shares of the Company's common stock from 9,500,300 19,000,600 The following table shows the Historical earnings per share and the pro forma earnings per share Years Ended December 31, 2023 2022 2021 Historical Earnings per common share: Net Income attributable to the Company - Basic $ 0.56 0.49 3.02 Diluted $ 0.56 0.48 3.00 Pro Forma Earnings per common share (unaudited): Net Income attributable to the Company - Basic $ 0.28 0.24 1.51 Diluted $ 0.28 0.24 1.50

Accounting Policies (Policies)

Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
ORGANIZATION	ORGANIZATION th 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 and joint ventures of each.
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 Investment Partners 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. In 2022 we sold a 20
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 Mining royalty revenues are recognized when the performance obligation is satisfied which is when the sand or stone mined and processed by the lessee is sold and removed from the property. Our typical mining lease requires the tenant to pay the Company a monthly royalty in arrears based on the number of tons of mined materials sold from our mining property multiplied by a percentage of the average annual sales price per ton sold from the prior fiscal year. In certain locations, typically where the sand and stone deposits on the property have been depleted but the tenant still has a need for the leased land, we collect a minimum annual rental amount but this is not the predominant component of mining royalties revenues. As such both mining royalty revenues and minimum annual rents are recognized as revenues from contracts with customers. Mining royalty revenues accounts receivable were $ 465,000 618,000 388,000 325,000 47,000 249,000 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 expense is computed on the basis of units of production in relation to estimated sand and stone deposits. Remaining sand and stone deposit estimates are periodically adjusted based upon surveys. The Company recorded depreciation and depletion expenses for fiscal year 2023, 2022 and 2021, of $ 10,668,000 10,618,000 8,806,000 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 excess of 50%
INCOME TAXES	INCOME TAXES differences between pre-tax income reported in the financial statements and taxable income. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit. The second step is to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the amounts rely upon the determination of the probability of various possible outcomes. The Company reevaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, 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 estimated remaining sand and stone deposits, 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 (FASB) issued Accounting Standards Update (ASU) 2016 - 13, "Financial Instruments - Credit Losses," which introduced new guidance for an approach based on expected losses to estimate credit losses on certain types of financial instruments. This standard was effective for the Company as of January 1, 2023. There was no impact on our financial statements at adoption.

Investments in Joint Ventures (

Investments in Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Company’s 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, 2023 Brooksville Quarry, LLC 50.00 % $ 7,552 14,439 (82 ) (41 ) BC FRP Realty, LLC 50.00 % 5,039 22,454 (632 ) (316 ) Buzzard Point Sponsor, LLC 50.00 % 2,326 4,652 — — Bryant Street Partnerships 61.36 % 71,786 202,634 (10,296 ) (4,558 ) Lending ventures 27,695 17,117 — — Estero Partnership 16.00 % 3,600 38,652 — — Verge Partnership 61.37 % 36,665 130,173 (9,039 ) (5,547 ) Greenville Partnerships 40.00 % 11,403 98,223 (3,687 ) (1,475 ) Total $ 166,066 528,344 (23,736 ) (11,937 )
Investments in Multifamily Joint Ventures as of December 31, 2023	The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2023, are summarized in the following two tables (in thousands): Investments in Multifamily Joint Ventures as of December 31, 2023 As of December 31, 2023 Buzzard Point Bryant Street Estero Verge Greenville Total Sponsor, LLC Partnership Partnership Partnership Partnership Multifamily Investments in real estate, net $ 0 187,616 35,576 128,154 95,911 $ 447,257 Cash and restricted cash 0 7,543 3,076 1,323 2,000 13,942 Unrealized rents & receivables 0 6,737 0 403 127 7,267 Deferred costs 4,652 738 0 293 185 5,868 Total Assets $ 4,652 202,634 38,652 130,173 98,223 $ 474,334 Secured notes payable $ 0 107,084 16,000 72,691 66,434 $ 262,209 Other liabilities 0 3,129 0 1,344 3,867 8,340 Capital – FRP 2,326 69,779 3,600 34,391 10,450 120,546 Capital – Third Parties 2,326 22,642 19,052 21,747 17,472 83,239 Total Liabilities and Capital $ 4,652 202,634 38,652 130,173 98,223 $ 474,334
Investments in Joint Ventures as of December 31, 2023	Investments in Joint Ventures as of December 31, 2023 As of December 31, 2023 Brooksville BC FRP Lending Total Grand Quarry, LLC Realty, LLC Ventures Multifamily Total Investments in real estate, net $ 14,358 21,503 17,117 447,257 $ 500,235 Cash and restricted cash 80 127 0 13,942 14,149 Unrealized rents & receivables 0 464 0 7,267 7,731 Deferred costs 1 360 0 5,868 6,229 Total Assets $ 14,439 22,454 17,117 474,334 $ 528,344 Secured notes payable $ 0 12,086 (10,578 ) 262,209 $ 263,717 Other liabilities 0 402 0 8,340 8,742 Capital – FRP 7,552 4,983 27,695 120,546 160,776 Capital - Third Parties 6,887 4,983 0 83,239 95,109 Total Liabilities and Capital $ 14,439 22,454 17,117 474,334 $ 528,344
Investments in Multifamily Joint Ventures as of December 31, 2022	The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2022 are summarized in the following two tables (in thousands): Investments in Multifamily Joint Ventures as of December 31, 2022 As of December 31, 2022 Buzzard Point Bryant Street Estero Verge Greenville Total Sponsor, LLC Partnership Partnership Partnership Partnership Multifamily Investments in real estate, net $ 0 192,904 33,008 130,616 95,883 $ 452,411 Cash and restricted cash 0 1,349 5,497 359 567 7,772 Unrealized rents & receivables 0 5,128 0 14 13 5,155 Deferred costs 2,906 393 0 139 88 3,526 Total Assets $ 2,906 199,774 38,505 131,128 96,551 $ 468,864 Secured notes payable $ 0 129,263 16,000 66,584 64,954 $ 276,801 Other liabilities 0 2,338 5 5,328 3,014 10,685 Capital - FRP 1,453 53,553 3,600 36,348 11,087 106,041 Capital – Third Parties 1,453 14,620 18,900 22,868 17,496 75,337 Total Liabilities and Capital $ 2,906 199,774 38,505 131,128 96,551 $ 468,864
Investments in Joint Ventures as of December 31, 2022	Investments in Joint Ventures as of December 31, 2022 As of December 31, 2022 Brooksville BC FRP Lending Grand Quarry, LLC Realty, LLC Ventures Multifamily Total Investments in real estate, net $ 14,307 21,059 5,547 452,411 $ 493,324 Cash and restricted cash 66 99 0 7,772 7,937 Unrealized rents & receivables 0 422 0 5,155 5,577 Deferred costs 1 245 30 3,526 3,802 Total Assets $ 14,374 21,825 5,577 468,864 $ 510,640 Secured notes payable $ 0 10,899 (10,899 ) 276,801 $ 276,801 Other liabilities 0 338 0 10,685 11,023 Capital – FRP 7,522 5,294 16,476 106,041 135,333 Capital - Third Parties 6,852 5,294 0 75,337 87,483 Total Liabilities and Capital $ 14,374 21,825 5,577 468,864 $ 510,640
Bryant Street Partnerships	The income statements of the Bryant Street Partnerships Bryant Street Bryant Street Bryant Street Bryant Street Partnerships Partnerships Partnerships Partnerships Total JV Total JV Company Share Company Share Year ended Year ended Year ended Year ended December 31, December 31, December 31, December 31, 2023 2022 2023 2022 Revenues: Rental Revenue $ 12,633 $ 9,586 $ 7,751 $ 5,882 Revenue – other 2,237 1,766 1,373 1,084 Total Revenues 14,870 11,352 9,124 6,966 Cost of operations: Depreciation and amortization 7,009 6,737 4,301 4,134 Operating expenses 5,731 5,428 3,516 3,331 Property taxes 1,150 1,376 706 844 Total cost of operations 13,890 13,541 8,523 8,309 Total operating profit/(loss) 980 (2,189 ) 601 (1,343 ) Interest expense (11,276 ) (8,150 ) (5,159 ) (5,486 ) Net loss before tax $ (10,296 ) $ (10,339 ) $ (4,558 ) $ (6,829 )
Greenville Partnerships	The income statements of the Greenville Partnerships Greenville Greenville Greenville Greenville Partnerships Partnerships Partnerships Partnerships Total JV Total JV Company Share Company Share Year ended Year ended Year ended Year ended December 31, December 31, December 31, December 31, 2023 2022 2023 2022 Revenues: Rental Revenue $ 7,058 $ 3,146 $ 2,823 $ 1,259 Revenue – other 572 176 229 70 Total Revenues 7,630 3,322 3,052 1,329 Cost of operations: Depreciation and amortization 3,241 1,557 1,296 623 Operating expenses 2,399 1,207 960 483 Property taxes 1,687 778 675 311 Total cost of operations 7,327 3,542 2,931 1,417 Total operating profit/(loss) 303 (220 ) 121 (88 ) Interest expense (3,990 ) (1,113 ) (1,596 ) (445 ) Net loss before tax $ (3,687 ) $ (1,333 ) $ (1,475 ) $ (533 )
Verge Partnership	The income statements of the Verge Partnership Verge Verge Partnership Partnership Total JV Company Share Year ended Year ended December 31, December 31, 2023 2023 Revenues: Rental Revenue $ 3,575 $ 2,194 Revenue – other 537 330 Total Revenues 4,112 2,524 Cost of operations: Depreciation and amortization 4,006 2,458 Operating expenses 2,798 1,718 Property taxes 997 612 Total cost of operations 7,801 4,788 Total operating loss (3,689 ) (2,264 ) Interest expense (5,350 ) (3,283 ) Net loss before tax $ (9,039 ) $ (5,547 )

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt December 31, December 31, 2023 2022 Fixed rate mortgage loans, 3.03% interest only, matures 4/1/2033 $ 180,070 180,070 Unamortized debt issuance costs (1,365 ) (1,513 ) Credit agreement — — Long term debt $ 178,705 178,557

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Carrying value of property owned by the Company which is leased or held for lease to others	At December 31, 2023, the total Carrying value of property owned by the Company which is leased or held for lease to others Construction aggregates property $ 46,817 Commercial property 103,293 Residential/mixed-use property 294,975 Carrying Value of property owned by the Company leased or held for lease, gross 445,085 Less accumulated depreciation and depletion 67,266 Carrying Value of property owned by the Company leased or held for lease, net $ 377,819

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings per common share:
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 2023 2022 2021 Common shares: Weighted average common shares outstanding during the period – shares used for basic earnings per common share 9,420 9,386 9,355 Common shares issuable under share based payments plans which are potentially dilutive 41 49 42 Common shares used for diluted earnings per common share 9,461 9,435 9,397 Net income attributable to the Company $ 5,302 4,565 28,215 Earnings per common share: -basic $ 0.56 0.49 3.02 -diluted $ 0.56 0.48 3.00

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock compensation expense	The Company recorded the following Stock compensation expense Years Ended December 31, 2023 2022 2021 Stock option grants $ 60 69 69 Restricted stock awards 1,028 800 492 Employee stock grant 50 50 50 Annual director stock award 600 650 500 Stock compensation $ 1,738 1,569 1,111
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, 2021 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 Exercised (16,460 ) $ 25.07 $ (145 ) Outstanding at December 31, 2022 88,295 $ 40.33 4.4 $ 1,271 Exercised (24,855 ) $ 41.21 $ (290 ) Outstanding at December 31, 2023 63,440 $ 39.99 3.5 $ 981 Exercisable at December 31, 2023 63,440 $ 39.99 3.5 $ 981 Vested during twelve months ended December 31, 2023 3,990 $ 65
Stock options outstanding	The following table summarizes information concerning Stock options outstanding Shares Weighted Weighted Range of Exercise under Average Average Prices per Share Option Exercise Price Remaining Life Exercisable: $26.96 - $33.70 15,630 28.95 1.4 $33.70 - $42.13 12,000 38.45 3.0 $42.13 - $45.97 35,810 45.32 4.5 Total 63,440 $ 39.99 3.5 Years
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, 2021 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 Time-based awards granted 7,448 57.80 431 Performance-based awards granted 14,016 57.80 810 Vested (15,679 ) 47.56 (746 ) Forfeited (1,363 ) 46.30 (63 ) Non-vested at December 31, 2022 50,496 $ 50.42 3.0 $ 2,546 Time-based awards granted 7,980 53.86 430 Performance-based awards granted 17,304 53.92 933 Vested (21,053 ) 48.06 (1,012 ) Non-vested at December 31, 2023 54,727 $ 52.94 2.8 $ 2,897

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income tax expense	The Provision for income tax expense Years Ended December 31, 2023 2022 2021 Included in Net income: Continuing operations $ 1,516 1,530 10,281 Comprehensive income 551 (515 ) (209 ) Total tax expense $ 2,067 1,015 10,072
Provision for income taxes	The Provision for income taxes Year Ended December 31, 2023 2022 2021 Current: Federal $ 2 (214 ) 305 State 570 (571 ) 1,826 Current income tax expense 572 (785 ) 2,131 Deferred 1,495 1,800 7,941 Total $ 2,067 1,015 10,072
Income tax reconciliation	A reconciliation between the amount of tax shown above and the amount computed at the statutory Federal income tax rate follows (in thousands): Income tax reconciliation Year Ended December 31 2023 2022 2021 Amount computed at statutory Federal rate $ 1,812 924 7,941 State income taxes (net of Federal income tax benefit) 178 (30 ) 2,634 Other, net 77 121 (503 ) Provision for income taxes $ 2,067 1,015 10,072
Temporary tax differences	The types of temporary differences and their related tax effects that give rise to deferred tax assets and deferred tax liabilities are presented below (in thousands): Temporary tax differences December 31, 2023 2022 2021 Deferred tax liabilities: Property and equipment $ 42,317 41,866 38,143 Investment in opportunity zone 34,966 34,871 30,846 Depletion 706 697 704 Unrealized rents 385 150 58 Prepaid expenses and other 256 31 36 Gross deferred tax liabilities 78,630 77,615 69,787 Deferred tax assets: Federal tax loss carryforwards 3,153 6,375 3,235 State tax loss carryforwards 6,012 2,359 1,388 Employee benefits and other 9 921 1,117 Gross deferred tax assets 9,174 9,655 5,740 Net deferred tax liability $ 69,456 67,960 64,047
NOL Carryovers	NOL Carryovers Years Ended Other Items - All Gross 12/31/2023 12/31/2022 State NOL Carryovers 49,278,000 38,169,000 Federal NOL Carryovers 28,637,000 30,358,000

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Company’s business segments	Operating results and certain other financial data for the Company’s business segments Years Ended December 31, 2023 2022 2021 Revenues: Revenues Industrial and Commercial $ 5,354 3,681 2,575 Revenues Mining royalty lands 12,527 10,683 9,465 Revenues Development 1,801 1,674 1,563 Revenues Multifamily 21,824 21,443 17,617 Revenues $ 41,506 37,481 31,220 Operating profit: Before corporate expenses: Operating profit before corporate expenses Industrial and Commercial $ 2,551 1,592 612 Operating profit before corporate expenses Mining royalty lands 11,009 9,305 8,558 Operating profit before corporate expenses Development (1,954 ) (2,791 ) (2,548 ) Operating profit before corporate expenses Multifamily 4,096 3,552 (1,277 ) Operating profit before corporate expenses Operating profit before corporate expenses 15,702 11,658 5,345 Corporate expenses: Corporate expenses Allocated to Industrial and Commercial (787 ) (632 ) (843 ) Corporate expenses Allocated to Mining royalty lands (449 ) (414 ) (318 ) Corporate expenses Allocated to Development (2,387 ) (2,284 ) (1,557 ) Corporate expenses Allocated to Multifamily (379 ) (332 ) (353 ) Corporate expenses (4,002 ) (3,662 ) (3,071 ) Operating profit $ 11,700 7,996 2,274 Interest expense Interest expense $ 4,315 3,045 2,304 Depreciation, depletion and amortization: Depreciation, depletion and amortization Industrial and Commercial $ 1,374 907 578 Depreciation, depletion and amortization Mining royalty lands 497 586 199 Depreciation, depletion and amortization Development 182 189 208 Depreciation, depletion and amortization Multifamily 8,768 9,535 11,752 Depreciation, depletion and amortization $ 10,821 11,217 12,737 Capital expenditures: Capital expenditures Industrial and Commercial $ 664 1,284 852 Capital expenditures Mining royalty lands 2 11,218 522 Capital expenditures Development 9,990 14,521 14,242 Capital expenditures Multifamily 561 592 914 Capital expenditures $ 11,217 27,615 16,530
Identifiable net assets	Identifiable net assets Identifiable net assets at end of period: Assets Industrial and Commercial $ 38,784 26,053 23,897 Assets Mining royalty lands 48,072 48,494 37,627 Assets Development 212,384 188,834 176,386 Assets Multifamily 249,750 257,535 266,429 Investments available for sale Investments available for sale at fair value — — 4,317 Cash Cash items 158,415 178,294 162,273 Assets Unallocated corporate assets 1,761 1,874 7,261 Assets $ 709,166 701,084 678,190

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired lease intangibles	The Company had the following Acquired lease intangibles Years Ended December 31, 2023 2022 In-place leases $ 9,660 $ 9,660 Accumulated amortization $ (9,385 ) $ (9,357 ) Acquired intangible assets, net $ 275 $ 303
Estimated aggregate amortization from acquired lease intangibles	The Estimated aggregate amortization from acquired lease intangibles Amortization Year Ending of in-place December 31, lease intangibles 2024 $ 29 2025 29 2026 29 2027 29 2028 29

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Historical earnings per share and the pro forma earnings per share	The following table shows the Historical earnings per share and the pro forma earnings per share Years Ended December 31, 2023 2022 2021 Historical Earnings per common share: Net Income attributable to the Company - Basic $ 0.56 0.49 3.02 Diluted $ 0.56 0.48 3.00 Pro Forma Earnings per common share (unaudited): Net Income attributable to the Company - Basic $ 0.28 0.24 1.51 Diluted $ 0.28 0.24 1.50

Accounting Policies (Details Na

Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 04, 2022
Investments held for trading	$ 0	$ 0
Mining accounts receivable	1,046,000	1,166,000
Mining deferred revenue liabilities	$ 925,000	259,000
Estimated useful lives	3-39
Depreciation and depletion	$ 10,668,000	10,618,000	$ 8,806,000
Buzzard Point Sponsor Partnership [Member]
Voting interest	50
Brooksville Joint Venture [Member]
Voting interest	50
B C F R P Realty Joint Venture [Member]
Voting interest	50
Estero Partnership [Member]
Voting interest	50
Greenville Woodfield Joint Venture [Member]
Voting interest	50
Half Street Joint Venture [Member]
Voting interest	excess of 50%
Bryant Street Partnership [Member]
Voting interest	excess of 50%
Mining Properties [Member]
Mining accounts receivable	$ 465,000	618,000	388,000
Mining deferred revenue liabilities	$ 325,000	$ 47,000	$ 249,000
Steuart Investment Company [Member]
Steuart ownership interest		20%		20%

Company_s investments in uncons

Company’s investments in unconsolidated joint ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Total investments	$ 166,066
Total assets of the partnership	709,166	$ 701,084	$ 678,190
Profit (loss) of the partnership	4,882	4,047	40,094
Share of profit (loss) of the partnership	(11,937)	(5,721)	$ (5,754)
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	528,344	510,640
Profit (loss) of the partnership	(23,736)
Real Estate Partnership Net Income Loss [Member]
Schedule of Equity Method Investments [Line Items]
Share of profit (loss) of the partnership	$ (11,937)
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%
Total investments	$ 7,552
Profit (loss) of the partnership	(82)
Share of profit (loss) of the partnership	(41)
Brooksville Quarry L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 14,439	14,374
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%
Total investments	$ 5,039
Profit (loss) of the partnership	(632)
Share of profit (loss) of the partnership	(316)
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	$ 22,454	21,825
Buzzard Point Sponsor Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%
Total investments	$ 2,326
Profit (loss) of the partnership	0
Share of profit (loss) of the partnership	0
Buzzard Point Sponsor Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 4,652	2,906
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	61.36%
Total investments	$ 71,786
Profit (loss) of the partnership	(10,296)
Share of profit (loss) of the partnership	(4,558)
Bryant Street Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	202,634	199,774
Lending Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Total investments	27,695
Profit (loss) of the partnership	0
Share of profit (loss) of the partnership	0
Lending Ventures [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 17,117	5,577
Estero Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	16%
Total investments	$ 3,600
Profit (loss) of the partnership	0
Share of profit (loss) of the partnership	0
Estero Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 38,652	38,505
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	61.37%
Total investments	$ 36,665
Profit (loss) of the partnership	(9,039)
Share of profit (loss) of the partnership	(5,547)
Verge [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 130,173	131,128
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	40%
Total investments	$ 11,403
Profit (loss) of the partnership	(3,687)
Share of profit (loss) of the partnership	(1,475)
Greenville Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 98,223	$ 96,551

Investments in Multifamily Join

Investments in Multifamily Joint Ventures as of December 31, 2023 (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 500,235	$ 493,324
Cash and restricted cash	14,149	7,937
Unrealized rents & receivables	7,731	5,577
Deferred costs	6,229	3,802
Total Assets	709,166	701,084	$ 678,190
Secured notes payable	263,717	276,801
Other liabilities	8,742	11,023
Capital – Third Parties	414,520	407,145
Total Liabilities and Capital	709,166	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	528,344	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	160,776	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	95,109	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	528,344	510,640
Buzzard Point Sponsor Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	0	0
Cash and restricted cash	0	0
Unrealized rents & receivables	0	0
Deferred costs	4,652	2,906
Secured notes payable	0	0
Other liabilities	0	0
Buzzard Point Sponsor Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	4,652	2,906
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	2,326	1,453
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	2,326	1,453
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	4,652	2,906
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	187,616	192,904
Cash and restricted cash	7,543	1,349
Unrealized rents & receivables	6,737	5,128
Deferred costs	738	393
Secured notes payable	107,084	129,263
Other liabilities	3,129	2,338
Bryant Street Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	202,634	199,774
Bryant Street Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	69,779	53,553
Bryant Street Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	22,642	14,620
Bryant Street Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	202,634	199,774
Estero Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	35,576	33,008
Cash and restricted cash	3,076	5,497
Unrealized rents & receivables	0	0
Deferred costs	0	0
Secured notes payable	16,000	16,000
Other liabilities	0	5
Estero Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	38,652	38,505
Estero Partnership [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	3,600	3,600
Estero Partnership [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	19,052	18,900
Estero Partnership [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	38,652	38,505
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	128,154	130,616
Cash and restricted cash	1,323	359
Unrealized rents & receivables	403	14
Deferred costs	293	139
Secured notes payable	72,691	66,584
Other liabilities	1,344	5,328
Verge [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	130,173	131,128
Verge [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	34,391	36,348
Verge [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	21,747	22,868
Verge [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	130,173	131,128
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	95,911	95,883
Cash and restricted cash	2,000	567
Unrealized rents & receivables	127	13
Deferred costs	185	88
Secured notes payable	66,434	64,954
Other liabilities	3,867	3,014
Greenville Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	98,223	96,551
Greenville Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	10,450	11,087
Greenville Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	17,472	17,496
Greenville Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	98,223	96,551
Multifamily J V [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	447,257	452,411
Cash and restricted cash	13,942	7,772
Unrealized rents & receivables	7,267	5,155
Deferred costs	5,868	3,526
Secured notes payable	262,209	276,801
Other liabilities	8,340	10,685
Multifamily J V [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	474,334	468,864
Multifamily J V [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	120,546	106,041
Multifamily J V [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	83,239	75,337
Multifamily J V [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 474,334	$ 468,864

Investments in Joint Ventures a

Investments in Joint Ventures as of December 31, 2023 (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 500,235	$ 493,324
Cash and restricted cash	14,149	7,937
Unrealized rents & receivables	7,731	5,577
Deferred costs	6,229	3,802
Total Assets	709,166	701,084	$ 678,190
Secured notes payable	263,717	276,801
Other liabilities	8,742	11,023
Capital - Third Parties	414,520	407,145
Total Liabilities and Capital	709,166	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	528,344	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	160,776	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	95,109	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	528,344	510,640
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	14,358	14,307
Cash and restricted cash	80	66
Unrealized rents & receivables	0	0
Deferred costs	1	1
Secured notes payable	0	0
Other liabilities	0	0
Brooksville Quarry L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	14,439	14,374
Brooksville Quarry L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	7,552	7,522
Brooksville Quarry L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	6,887	6,852
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	14,439	14,374
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	21,503	21,059
Cash and restricted cash	127	99
Unrealized rents & receivables	464	422
Deferred costs	360	245
Secured notes payable	12,086	10,899
Other liabilities	402	338
B C F R P Realty L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	22,454	21,825
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	4,983	5,294
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	4,983	5,294
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	22,454	21,825
Lending Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	17,117	5,547
Cash and restricted cash	0	0
Unrealized rents & receivables	0	0
Deferred costs	0	30
Secured notes payable	(10,578)	(10,899)
Other liabilities	0	0
Lending Ventures [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	17,117	5,577
Lending Ventures [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	27,695	16,476
Lending Ventures [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	0	0
Lending Ventures [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	17,117	5,577
Multifamily J V [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	447,257	452,411
Cash and restricted cash	13,942	7,772
Unrealized rents & receivables	7,267	5,155
Deferred costs	5,868	3,526
Secured notes payable	262,209	276,801
Other liabilities	8,340	10,685
Multifamily J V [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	474,334	468,864
Multifamily J V [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	120,546	106,041
Multifamily J V [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	83,239	75,337
Multifamily J V [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 474,334	$ 468,864

Investments in Multifamily Jo_2

Investments in Multifamily Joint Ventures as of December 31, 2022 (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 500,235	$ 493,324
Cash and restricted cash	14,149	7,937
Unrealized rents & receivables	7,731	5,577
Deferred costs	6,229	3,802
Total Assets	709,166	701,084	$ 678,190
Secured notes payable	263,717	276,801
Other liabilities	8,742	11,023
Capital – Third Parties	414,520	407,145
Total Liabilities and Capital	709,166	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	528,344	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	160,776	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	95,109	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	528,344	510,640
Buzzard Point Sponsor Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	0	0
Cash and restricted cash	0	0
Unrealized rents & receivables	0	0
Deferred costs	4,652	2,906
Secured notes payable	0	0
Other liabilities	0	0
Buzzard Point Sponsor Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	4,652	2,906
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	2,326	1,453
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	2,326	1,453
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	4,652	2,906
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	187,616	192,904
Cash and restricted cash	7,543	1,349
Unrealized rents & receivables	6,737	5,128
Deferred costs	738	393
Secured notes payable	107,084	129,263
Other liabilities	3,129	2,338
Bryant Street Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	202,634	199,774
Bryant Street Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	69,779	53,553
Bryant Street Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	22,642	14,620
Bryant Street Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	202,634	199,774
Estero Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	35,576	33,008
Cash and restricted cash	3,076	5,497
Unrealized rents & receivables	0	0
Deferred costs	0	0
Secured notes payable	16,000	16,000
Other liabilities	0	5
Estero Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	38,652	38,505
Estero Partnership [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	3,600	3,600
Estero Partnership [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	19,052	18,900
Estero Partnership [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	38,652	38,505
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	128,154	130,616
Cash and restricted cash	1,323	359
Unrealized rents & receivables	403	14
Deferred costs	293	139
Secured notes payable	72,691	66,584
Other liabilities	1,344	5,328
Verge [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	130,173	131,128
Verge [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	34,391	36,348
Verge [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	21,747	22,868
Verge [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	130,173	131,128
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	95,911	95,883
Cash and restricted cash	2,000	567
Unrealized rents & receivables	127	13
Deferred costs	185	88
Secured notes payable	66,434	64,954
Other liabilities	3,867	3,014
Greenville Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	98,223	96,551
Greenville Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	10,450	11,087
Greenville Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	17,472	17,496
Greenville Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	98,223	96,551
Multifamily J V [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	447,257	452,411
Cash and restricted cash	13,942	7,772
Unrealized rents & receivables	7,267	5,155
Deferred costs	5,868	3,526
Secured notes payable	262,209	276,801
Other liabilities	8,340	10,685
Multifamily J V [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	474,334	468,864
Multifamily J V [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	120,546	106,041
Multifamily J V [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	83,239	75,337
Multifamily J V [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 474,334	$ 468,864

Investments in Joint Ventures_2

Investments in Joint Ventures as of December 31, 2022 (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 500,235	$ 493,324
Cash and restricted cash	14,149	7,937
Unrealized rents & receivables	7,731	5,577
Deferred costs	6,229	3,802
Total Assets	709,166	701,084	$ 678,190
Secured notes payable	263,717	276,801
Other liabilities	8,742	11,023
Capital - Third Parties	414,520	407,145
Total Liabilities and Capital	709,166	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	528,344	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	160,776	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	95,109	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	528,344	510,640
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	14,358	14,307
Cash and restricted cash	80	66
Unrealized rents & receivables	0	0
Deferred costs	1	1
Secured notes payable	0	0
Other liabilities	0	0
Brooksville Quarry L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	14,439	14,374
Brooksville Quarry L L C [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	7,552	7,522
Brooksville Quarry L L C [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	6,887	6,852
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	14,439	14,374
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	21,503	21,059
Cash and restricted cash	127	99
Unrealized rents & receivables	464	422
Deferred costs	360	245
Secured notes payable	12,086	10,899
Other liabilities	402	338
B C F R P Realty L L C [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	22,454	21,825
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	4,983	5,294
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	4,983	5,294
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	22,454	21,825
Lending Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	17,117	5,547
Cash and restricted cash	0	0
Unrealized rents & receivables	0	0
Deferred costs	0	30
Secured notes payable	(10,578)	(10,899)
Other liabilities	0	0
Lending Ventures [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	17,117	5,577
Lending Ventures [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	27,695	16,476
Lending Ventures [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	0	0
Lending Ventures [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	17,117	5,577
Multifamily J V [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	447,257	452,411
Cash and restricted cash	13,942	7,772
Unrealized rents & receivables	7,267	5,155
Deferred costs	5,868	3,526
Secured notes payable	262,209	276,801
Other liabilities	8,340	10,685
Multifamily J V [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	474,334	468,864
Multifamily J V [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	120,546	106,041
Multifamily J V [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	83,239	75,337
Multifamily J V [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 474,334	$ 468,864

Bryant Street Partnerships (Det

Bryant Street Partnerships (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Rental Revenue	$ 28,979	$ 26,798	$ 21,755
Total Revenues	41,506	37,481	31,220
Property taxes	3,650	4,125	3,751
Total cost of operations	7,364	7,065	6,219
Total operating profit/(loss)	11,700	7,996	2,274
Interest expense	(4,315)	(3,045)	(2,304)
Net loss before tax	6,398	5,577	$ 50,375
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue	7,751	5,882
Revenue – other	1,373	1,084
Total Revenues	9,124	6,966
Depreciation and amortization	4,301	4,134
Operating expenses	3,516	3,331
Property taxes	706	844
Total cost of operations	8,523	8,309
Total operating profit/(loss)	601	(1,343)
Interest expense	(5,159)	(5,486)
Net loss before tax	(4,558)	(6,829)
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue	12,633	9,586
Revenue – other	2,237	1,766
Total Revenues	14,870	11,352
Depreciation and amortization	7,009	6,737
Operating expenses	5,731	5,428
Property taxes	1,150	1,376
Total cost of operations	13,890	13,541
Total operating profit/(loss)	980	(2,189)
Interest expense	(11,276)	(8,150)
Net loss before tax	$ (10,296)	$ (10,339)

Greenville Partnerships (Detail

Greenville Partnerships (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Rental Revenue	$ 28,979	$ 26,798	$ 21,755
Total Revenues	41,506	37,481	31,220
Property taxes	3,650	4,125	3,751
Total cost of operations	7,364	7,065	6,219
Total operating profit/(loss)	11,700	7,996	2,274
Interest expense	(4,315)	(3,045)	(2,304)
Net loss before tax	6,398	5,577	$ 50,375
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue	2,823	1,259
Revenue – other	229	70
Total Revenues	3,052	1,329
Depreciation and amortization	1,296	623
Operating expenses	960	483
Property taxes	675	311
Total cost of operations	2,931	1,417
Total operating profit/(loss)	121	(88)
Interest expense	(1,596)	(445)
Net loss before tax	(1,475)	(533)
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue	7,058	3,146
Revenue – other	572	176
Total Revenues	7,630	3,322
Depreciation and amortization	3,241	1,557
Operating expenses	2,399	1,207
Property taxes	1,687	778
Total cost of operations	7,327	3,542
Total operating profit/(loss)	303	(220)
Interest expense	(3,990)	(1,113)
Net loss before tax	$ (3,687)	$ (1,333)

Verge Partnership (Details)

Verge Partnership (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Rental Revenue	$ 28,979	$ 26,798	$ 21,755
Total Revenues	41,506	37,481	31,220
Property taxes	3,650	4,125	3,751
Total cost of operations	7,364	7,065	6,219
Total operating loss	11,700	7,996	2,274
Interest expense	(4,315)	(3,045)	(2,304)
Net loss before tax	6,398	$ 5,577	$ 50,375
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue	2,194
Revenue – other	330
Total Revenues	2,524
Depreciation and amortization	2,458
Operating expenses	1,718
Property taxes	612
Total cost of operations	4,788
Total operating loss	(2,264)
Interest expense	(3,283)
Net loss before tax	(5,547)
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue	3,575
Revenue – other	537
Total Revenues	4,112
Depreciation and amortization	4,006
Operating expenses	2,798
Property taxes	997
Total cost of operations	7,801
Total operating loss	(3,689)
Interest expense	(5,350)
Net loss before tax	$ (9,039)

Investments in Joint Ventures_3

Investments in Joint Ventures (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Difference between carrying value and underlying equity	$ 5,291,000
Retained earnings (accumulated deficit)	$ (21,823,000)	$ (13,115,000)

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related Party Transactions [Abstract]
Related party allocation	$ 925,000	$ 893,000

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Fixed rate mortgage loans, 3.03% interest only, matures 4/1/2033	$ 180,070	$ 180,070
Unamortized debt issuance costs	(1,365)	(1,513)
Credit agreement	0	0
Long term debt	$ 178,705	$ 178,557

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, 2023	Dec. 31, 2022	Dec. 22, 2023	Mar. 19, 2021	Nov. 17, 2017
Line of Credit Facility [Line Items]
2024				$ 0
2025				0
2026				0
2027				0
2028 and subsequent years				180,070,000
Principal sum				178,705,000	$ 178,557,000
Debt cost amortization				$ 148,000	$ 148,000
Dock 79 Eagle Bank [Member]
Line of Credit Facility [Line Items]
Loan terms			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 [Member]
Line of Credit Facility [Line Items]
Interest rate spread				2.25%
Commitment fee				0.35%
Wells Fargo [Member]
Line of Credit Facility [Line Items]
Loan terms				3 years
Maximum facility amount						$ 35,000,000
Outstanding revolver				$ 0
Outstanding letters of credit				823,000
Available for borrowing				$ 34,177,000
Letter of credit fee				2.25%
Applicable interest rate				7.64%
Dividend limit				$ 94,000,000
Covenant compliance				all

Carrying value of property owne

Carrying value of property owned by the Company which is leased or held for lease to others (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
Construction aggregates property	$ 46,817
Commercial property	103,293
Residential/mixed-use property	294,975
Carrying Value of property owned by the Company leased or held for lease, gross	445,085
Less accumulated depreciation and depletion	67,266
Carrying Value of property owned by the Company leased or held for lease, net	$ 377,819

Leases (Details Narrative)

Leases (Details Narrative)	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 16,684,000
2025	6,527,000
2026	6,144,000
2027	4,679,000
2028	3,830,000
2029 and subsequent years	$ 30,830,000

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per common share:
Weighted average common shares outstanding during the period – shares used for basic earnings per common share	9,420	9,386	9,355
Common shares issuable under share based payments plans which are potentially dilutive	41	49	42
Common shares used for diluted earnings per common share	9,461	9,435	9,397
Net income attributable to the Company	$ 5,302	$ 4,565	$ 28,215
-basic	$ 0.56	$ 0.49	$ 3.02
-diluted	$ 0.56	$ 0.48	$ 3

Earnings per Share (Details Nar

Earnings per Share (Details Narrative) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per common share:
Anti-dilutive shares	0	0	6,680
Shares repurchased	36,909		6,004
Average cost of shares repurchased	$ 54.19		$ 43.95

Stock compensation expense (Det

Stock compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	$ 1,738	$ 1,569	$ 1,111
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	60	69	69
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	1,028	800	492
Employee Grant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	50	50	50
Director Stock Award [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	$ 600	$ 650	$ 500

Summary of changes in outstandi

Summary of changes in outstanding options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding options, shares	63,440
Outstanding options, weighted average exercise price	$ 39.99
Outstanding remaining term	3 years 6 months 1 day
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding options, shares	63,440	88,295	104,755	120,089
Outstanding options, weighted average exercise price	$ 39.99	$ 40.33	$ 37.93	$ 35.33
Outstanding remaining term	3 years 6 months	4 years 4 months 24 days	4 years 9 months 17 days	5 years 3 months 18 days
Options outstanding, weighted average fair value	$ 981	$ 1,271	$ 1,416	$ 1,531
Shares exercised	(24,855)	(16,460)	(15,334)
Exercises, weighted average exercise price	$ 41.21	$ 25.07	$ 17.54
Exercised, weighted average fair value	$ (290)	$ (145)	$ (115)
Options exercisable, shares	63,440
Exercisable, weighted average exercise price	$ 39.99
Exercisable remaining term	3 years 6 months
Exercisable, weighted average fair value	$ 981
Options vested, shares	3,990
Vested, weighted average fair value	$ 65

Stock options outstanding (Deta

Stock options outstanding (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable | shares	63,440
Weighted average exercise price | $ / shares	$ 39.99
Remaining life	3 years 6 months 1 day
Twenty Nine Point Ninety Six To Thirty Three Point Seventy [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable | shares	15,630
Weighted average exercise price | $ / shares	$ 28.95
Remaining life	1 year 4 months 25 days
Thirty Three Point Seventy To Forty Two Point Thirteen [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable | shares	12,000
Weighted average exercise price | $ / shares	$ 38.45
Remaining life	3 years
Forty Two Point Thirteen To Forty Five Point Ninety Seven [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable | shares	35,810
Weighted average exercise price | $ / shares	$ 45.32
Remaining life	4 years 5 months 30 days

Changes in restricted stock awa

Changes in restricted stock awards (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	Mar. 31, 2023	Jan. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock					54,727	50,496	46,074	20,520
Restricted stock					$ 52.94	$ 50.42	$ 45.88	$ 46.30
Restricted stock					2 years 9 months 18 days	3 years	3 years 1 month 5 days	3 years 4 months 25 days
Restricted stock					$ 2,897	$ 2,546	$ 2,114	$ 950
Restricted stock, vested					(21,053)	(15,679)	(2,224)
Restricted stock					$ 48.06	$ 47.56	$ 45.55
Restricted stock					$ (1,012)	$ (746)	$ (101)
Restricted stock						(1,363)
Restricted stock						$ 46.30
Restricted stock						$ (63)
Time Based Awards Granted [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock		7,980	7,448	8,896	7,980	7,448	8,896
Restricted stock					$ 53.86	$ 57.80	$ 45.55
Restricted stock					$ 430	$ 431	$ 405
Performance Based Awards Granted [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock	2,272	15,032	14,016	18,882	17,304	14,016	18,882
Restricted stock					$ 53.92	$ 57.80	$ 45.55
Restricted stock					$ 933	$ 810	$ 860

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details Narrative)	1 Months Ended		3 Months Ended			12 Months Ended
	Mar. 31, 2023 shares	Jan. 31, 2023 shares	Mar. 31, 2023 shares	Mar. 31, 2022 shares	Mar. 31, 2021 shares	Dec. 31, 2023 USD ($) Integer shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares	Dec. 29, 2023 $ / shares
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% at the end of each year
Dividend yield						0%
Minimum volatility						31.53%
Maximum volatility						41.17%
Risk-free interest rate minimum						2%
Risk-free interest rate maximum						2.90%
Expected life minimum						5 years
Expected life maximum						7 years
Shares available | shares						344,077
Intrinsic value | $						$ 1,452,000
Intrinsic value | $						1,452,000
Closing price | $ / shares									$ 62.88
Gains | $						$ 384,000
Time Based Awards Granted [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Grants | shares		7,980		7,448	8,896	7,980	7,448	8,896
Vesting period			4 years	4 years	4 years
Performance Based Awards Granted [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Grants | shares	2,272	15,032		14,016	18,882	17,304	14,016	18,882
Vesting period		5 years		5 years	5 years
Employee Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock grants | shares			928	865	1,098
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost | $						$ 2,469,000
Recognition period						2 years 10 months 24 days

Provision for income tax expens

Provision for income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Continuing operations	$ 1,516	$ 1,530	$ 10,281
Comprehensive income	551	(515)	(209)
Total tax expense	$ 2,067	$ 1,015	$ 10,072

Provision for income taxes (Det

Provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal	$ 2	$ (214)	$ 305
State	570	(571)	1,826
Current income tax expense	572	(785)	2,131
Deferred	1,495	1,800	7,941
Total	$ 2,067	$ 1,015	$ 10,072

Income tax reconciliation (Deta

Income tax reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal rate	$ 1,812	$ 924	$ 7,941
State income taxes (net of Federal   income tax benefit)	178	(30)	2,634
Other, net	77	121	(503)
Provision for income taxes	$ 2,067	$ 1,015	$ 10,072

Temporary tax differences (Deta

Temporary tax differences (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Property and equipment	$ 42,317	$ 41,866	$ 38,143
Investment in opportunity zone	34,966	34,871	30,846
Depletion	706	697	704
Unrealized rents	385	150	58
Prepaid expenses and other	256	31	36
Gross deferred tax liabilities	78,630	77,615	69,787
Federal tax loss carryforwards	3,153	6,375	3,235
State tax loss carryforwards	6,012	2,359	1,388
Employee benefits and other	9	921	1,117
Gross deferred tax assets	9,174	9,655	5,740
Net deferred tax liability	$ 69,456	$ 67,960	$ 64,047

NOL Carryovers (Details)

NOL Carryovers (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
State NOL Carryovers	$ 49,278,000	$ 38,169,000
Federal NOL Carryovers	$ 28,637,000	$ 30,358,000

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	12 Months Ended
	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Deferred taxes	$ 35,000,000
Gains on sales reinvested	$ 143,000,000
Deferred tax terms	These taxes are deferred until the earlier of the sale of the related investments or April 15, 2027 and 10% of gains are excluded from tax once the investments are held five years plus an additional 5% is excluded at seven year
Unrecognized Tax Benefits	$ 0

Employee Benefits (Details Narr

Employee Benefits (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Company 401k contribution	50%
Company's contribution cost	$ 59,000	$ 54,000
Deferred compensation plan expense	12,000	10,000
MSP accrued benefit liability	$ 1,409,000	$ 1,354,000

Company_s business segments (De

Company’s business segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 41,506	$ 37,481	$ 31,220
Operating profit before corporate expenses	15,702	11,658	5,345
Corporate expenses	(4,002)	(3,662)	(3,071)
Operating profit	11,700	7,996	2,274
Interest expense	4,315	3,045	2,304
Depreciation, depletion and amortization	10,975	11,462	12,946
Capital expenditures	11,217	27,615	16,530
Industrial Commercial [Member]
Segment Reporting Information [Line Items]
Revenues	5,354	3,681	2,575
Operating profit before corporate expenses	2,551	1,592	612
Corporate expenses	(787)	(632)	(843)
Depreciation, depletion and amortization	1,374	907	578
Capital expenditures	664	1,284	852
Mining Properties [Member]
Segment Reporting Information [Line Items]
Revenues	12,527	10,683	9,465
Operating profit before corporate expenses	11,009	9,305	8,558
Corporate expenses	(449)	(414)	(318)
Depreciation, depletion and amortization	497	586	199
Capital expenditures	2	11,218	522
Development [Member]
Segment Reporting Information [Line Items]
Revenues	1,801	1,674	1,563
Operating profit before corporate expenses	(1,954)	(2,791)	(2,548)
Corporate expenses	(2,387)	(2,284)	(1,557)
Depreciation, depletion and amortization	182	189	208
Capital expenditures	9,990	14,521	14,242
Multifamily Segment [Member]
Segment Reporting Information [Line Items]
Revenues	21,824	21,443	17,617
Operating profit before corporate expenses	4,096	3,552	(1,277)
Corporate expenses	(379)	(332)	(353)
Depreciation, depletion and amortization	8,768	9,535	11,752
Capital expenditures	561	592	914
Total Segments [Member]
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	$ 10,821	$ 11,217	$ 12,737

Identifiable net assets (Detail

Identifiable net assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Assets	$ 709,166	$ 701,084	$ 678,190
Investments available for sale	0	0	4,317
Cash	158,415	178,294	162,273
Industrial Commercial [Member]
Segment Reporting Information [Line Items]
Assets	38,784	26,053	23,897
Asset Management [Member]
Segment Reporting Information [Line Items]
Assets	48,072	48,494	37,627
Development [Member]
Segment Reporting Information [Line Items]
Assets	212,384	188,834	176,386
Multifamily Segment [Member]
Segment Reporting Information [Line Items]
Assets	249,750	257,535	266,429
Unallocated Corporate Assets [Member]
Segment Reporting Information [Line Items]
Assets	$ 1,761	$ 1,874	$ 7,261

Business Segments (Details Narr

Business Segments (Details Narrative)	12 Months Ended
	Dec. 31, 2023 a Integer
Segment Reporting Information [Line Items]
Reportable segments	4
Warehouses	9
Ground leases	2
Brooksville land under lease | a	16,650
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) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
US Treasury notes value	$ 128,795,000
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	1,000
Carrying amount of mortgage notes payable	180,070,000	$ 180,070,000
FV of mortgage notes payable	$ 145,678,000	$ 142,785,000

Contingent Liabilities (Details

Contingent Liabilities (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Guarantee Obligations [Member]
Line of Credit Facility [Line Items]
Guarantee obligation	$ 110,000,000	$ 26,000,000
Interest rate decrease	0.80%	1%
Value of guarantee	$ 1,500,000	$ 1,900,000
Term in months	36	48
Value of guarantee	$ 1,900,000
Wells Fargo [Member]
Line of Credit Facility [Line Items]
Outstanding letters of credit	$ 823,000

Commitments (Details Narrative)

Commitments (Details Narrative)	Dec. 31, 2023 USD ($)
Commitments to develop and maintain real estate	$ 16,800,000
Lending Ventures [Member]
Unused Commitments to Extend Credit	11,700,000
Financing commitments	$ 6,500,000

Concentrations (Details Narrati

Concentrations (Details Narrative)	12 Months Ended
	Dec. 31, 2023 USD ($) Integer	Dec. 31, 2022 USD ($)
Concentration Risk [Line Items]
Number of mining tenants | Integer	5
Accounts receivable	$ 1,046,000	$ 1,166,000
Mining Top Customer [Member]
Concentration Risk [Line Items]
Top lessee rent percent of revenue	24%
Accounts receivable	$ 289,000

Unusual or Infrequent Items I_2

Unusual or Infrequent Items Impacting Results (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Ownership Interests [Line Items]
Remeasurement gain	$ 51,139,000	$ 0	$ 0	$ 51,139,000
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, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
In-place leases	$ 9,660	$ 9,660
Accumulated amortization	(9,385)	(9,357)
Acquired intangible assets, net	$ 275	$ 303

Estimated aggregate amortizatio

Estimated aggregate amortization from acquired lease intangibles (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 29
2025	29
2026	29
2027	29
2028	$ 29

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 29,000	$ 559,000

Contributions from partner (Det

Contributions from partner (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 04, 2022
Other Ownership Interests [Line Items]
Proceeds from (Payments to) Noncontrolling Interests		$ 3,190,000	$ 11,472,000	$ 2,602,000
[custom:ReallocationOfNoncontrollingInterestNetOfTransactionCosts]			0
[custom:IncomeTaxEffectsReallocationOfNoncontrollingInterest]			$ 2,100,000
Steuart Investment Company [Member]
Other Ownership Interests [Line Items]
[custom:MinorityInterestPercent-0]	20%		20%		20%
[custom:MinorityInterestTICPurchasePrice-0]					$ 65,300,000
[custom:LongTermDebtAssumedByNoncontrollingInterest-0]					36,000,000
[custom:TransactionCostsForSaleOfTenancyInCommon-0]					1,400,000
[custom:NetContributionTIC-0]					$ 27,900,000
Proceeds from (Payments to) Noncontrolling Interests	$ 9,300,000
[custom:CompanyShareTICNetContribution]	18,600,000
[custom:ReallocationOfNoncontrollingInterestNetOfTransactionCosts]	7,700,000
[custom:IncomeTaxEffectsReallocationOfNoncontrollingInterest]	$ 2,100,000

Historical earnings per share a

Historical earnings per share and the pro forma earnings per share (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Events [Abstract]
Basic	$ 0.56	$ 0.49	$ 3.02
Diluted	0.56	0.48	3
Basic	0.28	0.24	1.51
Diluted	$ 0.28	$ 0.24	$ 1.50

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - shares	Apr. 12, 2024	Apr. 01, 2024	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Common Stock, Shares, Outstanding			9,484,224	9,459,686
Subsequent Event [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Outstanding	19,000,600	9,500,300