| Earnings Per Share |
12. EARNINGS PER SHARE The following table summarizes the components used in the calculation of basic and diluted earnings per share (“EPS”):
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For the three months ended June 30, |
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For the six months ended June 30, |
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(In thousands, except share and per share data) |
2026 |
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2025 |
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2026 |
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2025 |
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Numerator: |
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Net income (loss) attributable to common stockholders |
$ |
810 |
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$ |
(2,901 |
) |
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$ |
891 |
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$ |
(3,734 |
) |
Less: Income attributable to unvested restricted shares |
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(127 |
) |
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(118 |
) |
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(256 |
) |
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(314 |
) |
Net income (loss) attributable to common shares, basic and diluted |
$ |
683 |
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$ |
(3,019 |
) |
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$ |
635 |
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$ |
(4,048 |
) |
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Denominator: |
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Weighted average common shares outstanding used in earnings per share, basic |
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22,831,250 |
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19,136,225 |
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22,556,120 |
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18,229,095 |
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Effect of dilutive shares for diluted net income per common share: |
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Unvested LTIP Units |
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283,443 |
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— |
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314,647 |
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— |
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Weighted average common shares outstanding used in earnings per share, diluted |
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23,114,693 |
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19,136,225 |
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22,870,767 |
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18,229,095 |
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Net income (loss) available to common stockholders per common share, basic |
$ |
0.03 |
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$ |
(0.16 |
) |
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$ |
0.03 |
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$ |
(0.22 |
) |
Net income (loss) available to common stockholders per common share,
diluted |
$ |
0.03 |
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$ |
(0.16 |
) |
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$ |
0.03 |
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$ |
(0.22 |
) |
The following summarizes the number of OP Units and unsettled shares under Forward Sale Agreements that were anti-dilutive and not included in the computation of diluted earnings per share, for the periods presented:
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As of June 30, |
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2026 |
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2025 |
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OP Units |
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5,214,345 |
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7,404,574 |
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Unsettled shares under Forward Sale Agreements |
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1,689,792 |
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— |
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