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Quarterly report pursuant to Section 13 or 15(d)

Real Estate Activity

v3.20.1
Real Estate Activity
 3 Months Ended
Mar. 31, 2020
Real Estate [Abstract] Ìý
Real Estate Activity Real Estate Activity
As of March 31, 2020 and December 31, 2019, the Trust owned the following land and real estate (in thousands, except number of acres):

March 31,
2020		 December 31,
2019
Number of Acres Net Book Value Number of Acres Net Book Value
Land (surface rights) 849,826Ìý Ìý $ —Ìý Ìý 849,856Ìý Ìý $ —Ìý Ìý
Real estate acquired 52,687Ìý Ìý 110,965Ìý Ìý 51,931Ìý Ìý 107,075Ìý Ìý
Total real estate situated in 19 counties in Texas
 902,513Ìý Ìý $ 110,965Ìý Ìý 901,787Ìý Ìý $ 107,075Ìý Ìý

No valuation allowance was necessary at March 31, 2020 and December 31, 2019.

Land Sales

For the three months ended March 31, 2020, the Trust sold approximately 30 acres (Pecos County) of land in Texas for an aggregate sales price of approximately $0.9 million, an average of approximately $30,000 per acre.

For the three months ended March 31, 2019, the Trust sold approximately 21,251 acres (Loving, Culberson, Hudspeth and Reeves Counties) of land in Texas for an aggregate sales price of approximately $103.6 million, an average of approximately $4,876 per acre.

Land Acquisitions

For the three months ended March 31, 2020, the Trust acquired approximately 756 acres (Culberson and Reeves Counties) of land in Texas for an aggregate purchase price of approximately $3.9 million, an average of approximately $5,134 per acre.

For the three months ended March 31, 2019, the Trust acquired approximately 11,702 acres (Culberson and Reeves Counties) of land in Texas for an aggregate purchase price of approximately $47.2 million, an average of approximately $4,033 per acre.