The Company's net income (loss) and weighted-average number of shares outstanding for the three and six months ended June 30, 2026 and 2025 consist of the following ($ and shares in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Net income (loss) attributable to JPMREIT stockholders	$	1,084	$	32	$	(1,694)	$	1,712
Weighted-average shares of common stock outstanding, basic	97,919		65,443		90,111		58,122
Weighted-average shares of common stock outstanding, diluted	97,925		65,449		90,111		58,127

The calculation of basic and diluted net (loss) income per share amounts for the three and six months ended June 30, 2026 and 2025 consists of the following ($ and shares in thousands except per-share numbers):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Basic Net Income (Loss) per Share Attributable to JPMREIT Stockholders
Numerator:
Net income (loss) attributable to JPMREIT stockholders	$	1,084	$	32	$	(1,694)	$	1,712
Denominator:
Weighted-average shares of common stock outstanding	97,919		65,443		90,111		58,122
Basic net income (loss) per share of common stock	$	0.01	$	—	$	(0.02)	$	0.03

Diluted Net Income (Loss) per Share Attributable to JPMREIT Stockholders
Numerator:
Net income (loss) attributable to JPMREIT stockholders	$	1,084	$	32	$	(1,694)	$	1,712
Denominator:
Weighted-average shares of common stock outstanding	97,925		65,449		90,111		58,127
Diluted net income (loss) per share of common stock	$	0.01	$	—	$	(0.02)	$	0.03

For the six months ended June 30, 2026, unvested Class E shares awarded to the Company's independent directors as compensation for their service are excluded from the calculation of diluted earnings per share as the inclusion of such potential common shares in the calculations would be anti-dilutive for the period. There were no other potentially dilutive, unvested common shares for the three and six months ended June 30, 2026 and 2025.