Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.2.2
Earnings Per Share
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share 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
September 30,
For the Nine Months Ended
September 30,
2022 2021 2022 2021
Numerator:
Net Income Attributable to Common Stockholders and Participating securities $ 6,510  $ 2,697  $ 15,285  $ 6,893 
Add: Preferred Stock Dividends —  —  — 
Add: Net Income Attributable to Noncontrolling Interest 113  82  262  236 
Dilutive Net Income Attributable to Common Stockholders & Participating Securities $ 6,623  $ 2,779  $ 15,547  $ 7,133 
Denominator:
Weighted Average Shares of Common Stock & Participating Securities Outstanding - Basic 21,428,905 19,410,307 21,417,149 15,588,544
Dilutive Effect of OP Units 373,582 398,614
Dilutive Effect of Options and Warrants 145,560 48,520
Weighted Average Shares of Common Stock & Participating Securities Outstanding - Diluted 21,802,487 19,555,867 21,815,763 15,637,064
Earnings Per Share - Basic
Net Income Attributable to Common Stockholders & Participating Securities $ 0.30  $ 0.14  $ 0.71  $ 0.44 
Earnings Per Share - Diluted
Net Income Attributable to Common Stockholders & Participating Securities $ 0.30  $ 0.14  $ 0.71  $ 0.44 
During the three and nine months ended September 30, 2022, the effect of including OP Units were included in our calculation of weighted average shares of common stock outstanding – diluted. The effect of unvested RSUs, 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 nine months ended September 30, 2021, the effect of including outstanding stock options and outstanding warrants were included in our calculation of weighted average shares of common stock outstanding – diluted. The effect of unvested RSUs and OP Units were excluded in our calculation of weighted average shares of common stock outstanding – diluted as their inclusion would have been anti-dilutive.