| Earnings per Share - schedule of earnings per share |
Basic and diluted earnings per share attributable to common stockholders was calculated as follows:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Numerator |
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Net income (loss) |
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$ |
(4,536 |
) |
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$ |
1,328 |
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$ |
2,471 |
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$ |
7,614 |
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Less: Net income (loss) attributable to non-controlling interest |
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(60 |
) |
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14 |
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10 |
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82 |
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Less: Net income attributable to redeemable non-controlling interest - Series C Preferred Units |
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1,619 |
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— |
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2,706 |
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— |
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Net income (loss) attributable to Plymouth Industrial REIT, Inc. |
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(6,095 |
) |
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1,314 |
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(245 |
) |
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7,532 |
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Less: Amount allocated to participating securities |
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100 |
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94 |
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195 |
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|
188 |
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Net income (loss) attributable to common stockholders |
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$ |
(6,195 |
) |
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$ |
1,220 |
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$ |
(440 |
) |
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$ |
7,344 |
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Denominator |
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Weighted-average common shares outstanding — basic |
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44,926,680 |
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44,991,220 |
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45,006,217 |
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44,963,908 |
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Add: Effect of dilutive securities(1) |
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— |
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36,283 |
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— |
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30,152 |
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Weighted-average common shares outstanding — diluted |
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44,926,680 |
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45,027,503 |
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45,006,217 |
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44,994,060 |
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Net income (loss) per share — basic and diluted |
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Net income (loss) per share attributable to common stockholders — basic |
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$ |
(0.14 |
) |
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$ |
0.03 |
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$ |
(0.01 |
) |
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$ |
0.16 |
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Net income (loss) per share attributable to common stockholders — diluted |
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$ |
(0.14 |
) |
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$ |
0.03 |
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$ |
(0.01 |
) |
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$ |
0.16 |
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(1)During the three and six months ended June 30, 2025, all unvested restricted shares of common stock were deemed to be anti-dilutive due to the net loss attributable to common stockholders. During the three and six months ended June 30, 2024, there were approximately 156 and 32,144, respectively, of unvested restricted shares of common stock on a weighted average basis that were not included in the computation of diluted earnings per share as including these shares would be anti-dilutive. All warrants were out of the money and were also excluded from the computation of diluted earnings per share as they were deemed to be anti-dilutive.
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