v3.26.1
EARNINGS (LOSS) PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table presents the computation of the Company’s basic earnings (loss) per share attributable to common stockholders and its diluted earnings (loss) per share attributable to common stockholders and noncontrolling interests, which are Class C OP Units for the years ended December 31, 2025 and 2024 (in thousands, except shares/units and per share data):
Year Ended
December 31,
20252024
Net income$554 $6,493 
Net loss (income) attributable to noncontrolling interest in Operating Partnership (1)484 (475)
Preferred stock dividends
(3,202)(3,688)
Loss on repurchases of preferred stock(6)— 
Class X OP Unit distributions(949)— 
Net (loss) income available to common stockholders used in basic net (loss) income per share(3,119)2,330 
Net (loss) income attributable to noncontrolling interest in Operating Partnership (484)475 
Net (loss) income available to common stockholders and noncontrolling interests used in diluted net (loss) income per share/unit$(3,603)$2,805 
Weighted average shares of Common Stock outstanding - basic
10,144,791 9,293,103 
Class C OP Units (2)
1,532,047 1,895,871 
Weighted average shares and units outstanding - diluted (2)
11,676,838 11,188,974 
Earnings (loss) per share attributable to common stockholders:
Basic$(0.31)$0.25 
Earnings (loss) per share attributable to common stockholders and Class C OP Units:
Diluted$(0.31)$0.25 
(1)    Each Class C Common Share and Class C OP Unit have the same participation in earnings (loss).
(2)    Class C OP Units are included in the weighted average shares and units outstanding to calculate diluted earnings (loss) per share as each Class C Common Share and Class C OP Unit have the same participation in earnings (loss). During the year ended December 31, 2025, the weighted average dilutive effect of 803,715 Class X OP Units, was excluded from diluted earnings (loss) per share attributable to common stockholders and noncontrolling interest as the effect would have been antidilutive. As of December 31, 2025, the Operating Partnership had awarded a total of 895,043 Class X OP Units to employees.