| COMMON STOCK AND EARNINGS PER SHARE |
NOTE 16. COMMON STOCK AND EARNINGS PER SHARE Basic earnings per common share is computed by dividing net income (loss) attributable to the Company for the period by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per common share is determined based on the assumption that the OP Units are redeemed for shares of our common stock on a one-for-one basis. The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per share data): | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | Net Income (Loss) Attributable to Common Stockholders | | $ | 3,004 | | $ | (1,641) | | $ | 4,067 | | $ | (2,820) | | | | | | | | | | | | | | Weighted Average Number of Common Shares Outstanding | | | 17,066,917 | | | 14,202,796 | | | 16,310,036 | | | 14,414,682 | Weighted Average Number of Common Shares Applicable to OP Units using Treasury Stock Method (1) | | | 1,223,854 | | | 1,223,854 | | | 1,223,854 | | | 1,223,854 | Total Shares Applicable to Diluted Earnings per Share | | | 18,290,771 | | | 15,426,650 | | | 17,533,890 | | | 15,638,536 | | | | | | | | | | | | | | Per Common Share Data: | | | | | | | | | | | | | Net Income (Loss) Attributable to Common Stockholders | | | | | | | | | | | | | Basic | | $ | 0.18 | | $ | (0.12) | | $ | 0.25 | | $ | (0.20) | Diluted | | $ | 0.16 | | $ | (0.12) | | $ | 0.23 | | $ | (0.20) |
| (1) | Represents OP Units issued to CTO and its subsidiaries in connection with our formation transactions (See Note 19, “Related Party Management Company”). |
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