The following is a summary of the net loss per basic and diluted share computation for the periods presented (amounts in thousands, except per share data):


	Three months ended March 31,
	2026		2025
Numerator:
Net loss attributable to common stockholders	$	(7,603)	$	(5,019)
Denominator:
Denominator for basic net loss attributable to common stockholders per share — weighted-average shares	28,336		28,296
Effect of dilutive securities:
Unvested restricted shares (1)	54		—
Common OP Units (2)	124		124
Class B Units (3)	110		110
Denominator for diluted net loss attributable to common stockholders per share — weighted-average shares	28,624		28,530
Basic and diluted net loss attributable to common stockholders per share (4)	$	(0.27)	$	(0.18)

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(1)Weighted average number of unvested restricted shares outstanding for the periods presented. There were 116,654 and zero unvested restricted shares outstanding as of March 31, 2026 and 2025, respectively.

(2)Weighted average number of Common OP Units presented as shares outstanding for the periods presented, at the current redemption rate. There were 405,998 Common OP Units outstanding as of March 31, 2026 and 2025.

(3)Weighted average number of Class B Units presented as shares outstanding for the periods presented, at the current redemption rate. There were 359,250 Class B Units outstanding as of March 31, 2026 and 2025.

(4)Potential common stock equivalents are disregarded in diluted per share calculations when a net loss exists as the effect would be antidilutive. In this case the diluted per share denominator is equal to the denominator for basic net loss per share.