| Schedule of Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per share for the periods presented (in thousands, except per share amounts):
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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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2026 |
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2025 |
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2026 |
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2025 |
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Net income (loss) attributable to common stockholders |
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$ |
5,433 |
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$ |
12,285 |
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$ |
15,473 |
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$ |
28,802 |
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Earnings for basic computations |
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Net income attributable to redeemable noncontrolling interests |
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1,252 |
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3,437 |
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3,618 |
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7,601 |
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Net income attributable to Series B preferred stockholders |
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9,012 |
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5,675 |
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18,067 |
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10,082 |
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Net income attributable to Series C preferred stockholders |
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728 |
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— |
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1,026 |
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— |
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Net income (loss) for diluted computations |
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$ |
16,425 |
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$ |
21,397 |
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$ |
38,184 |
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$ |
46,485 |
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Weighted-average common shares outstanding |
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Average number of common shares outstanding - basic |
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18,844 |
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17,712 |
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18,725 |
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17,615 |
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Average number of common shares from assumed vesting of unvested restricted stock units |
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1,032 |
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302 |
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631 |
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166 |
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Average number of common shares from assumed conversion of OP Units |
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4,186 |
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5,038 |
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4,186 |
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5,038 |
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Average number of common shares from assumed conversion of Series B Preferred Stock |
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27,442 |
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16,408 |
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27,478 |
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14,530 |
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Average number of common shares from assumed conversion of Series C Preferred Stock |
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2,474 |
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— |
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1,577 |
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— |
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Average number of common shares outstanding - diluted |
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53,978 |
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39,460 |
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52,597 |
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37,349 |
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Earnings per weighted average common share: |
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Basic |
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$ |
0.29 |
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$ |
0.69 |
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$ |
0.83 |
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$ |
1.64 |
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Diluted |
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$ |
0.29 |
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$ |
0.54 |
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$ |
0.73 |
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$ |
1.24 |
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