Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Earnings Per Share

v3.22.2
Note 10 - Earnings Per Share
6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 10 - Earnings Per Share

 

The following table presents the computation of basic and diluted earnings per share (in thousands, except share data) :

 

   

For the Three Months Ended

   

For the Six Months Ended

 
   

June 30,

   

June 30,

 
   

2022

   

2021

   

2022

   

2021

 

Numerator:

                               
Net Income Attributable to Common Stockholders   $ 3,758     $ 2,738     $ 8,776     $ 4,195  

Add: Preferred Stock Dividends

    -       -       -       -  

Add: Net Income Attributable to OP Interest

    62       58       148       114  

Add: Net Income Attributable to Restricted Stock Units

    48       20       90       41  

Dilutive Net Income Attributable to Common Stockholders

  $ 3,868     $ 2,816     $ 9,014     $ 4,350  
                                 

Denominator:

                               

Weighted Average Shares of Common Stock Outstanding - Basic

    21,307,621       17,329,964       21,279,919       13,645,990  

Dilutive Effect of OP Units

    384,598       -       411,338       -  

Dilutive Effect of Vested Restricted Stock Units

    -       125,635       -       113,494  

Dilutive Effect of Options and Warrants

    -       -       -       -  

Dilutive Effect of Unvested Restricted Stock Units

    40,070       -       42,923       -  

Weighted Average Shares of Common Stock Outstanding - Diluted

    21,732,289       17,455,599       21,734,180       13,759,484  
                                 

Earnings Per Share - Basic

                               

Net Income Attributable to Common Stockholders

  $ 0.18     $ 0.16     $ 0.41     $ 0.31  

Earnings Per Share - Diluted

                               

Net Income Attributable to Common Stockholders

  $ 0.18     $ 0.16     $ 0.41     $ 0.30  

 

During the three and six months ended June 30, 2022, the effect of including OP Units and unvested RSUs were included in our calculation of weighted average shares of common stock outstanding – diluted. The effect of outstanding stock options and outstanding warrants were excluded in our calculation of weighted average shares of common stock outstanding – diluted as their inclusion would have been anti-dilutive. During the three and six months ended June 30, 2021, the effect of including vested RSUs were included in our calculation of weighted average shares of common stock outstanding – diluted. The effect of OP Units, outstanding stock options and outstanding warrants were excluded in our calculation of weighted average shares of common stock outstanding – diluted as their inclusion would have been anti-dilutive.