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Note 9 - Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 9: Earnings Per Share

 

The following table presents a reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2025 and 2024:

 

  

For the Three Months Ended

  

For the Nine Months Ended

 
  

September 30,

  

September 30,

 
  

2025

  

2024

  

2025

  

2024

 

Net income

 $6,995  $12,620  $23,693  $41,134 

Income allocated to noncontrolling interest

  (102)  (255)  (401)  (840)

Income allocable to common shares

 $6,893  $12,365  $23,292  $40,294 

Weighted-average shares outstanding—Basic

  233,634,546   224,820,656   232,628,917   224,747,327 

Weighted-average shares outstanding—Diluted

  234,283,170   226,058,400   233,403,810   225,530,265 

Earnings per share—Basic

 $0.03  $0.05  $0.10  $0.18 

Earnings per share—Diluted

 $0.03  $0.05  $0.10  $0.18 

 

Certain IROP units and shares deliverable under the Forward Sale Agreements were excluded from the earnings per share computation because their effect would have been anti-dilutive, totaling 8,923,243 for each of the three and nine months ended September 30, 2025. Certain IROP units and RSUs were excluded from the earnings per share computation because their effect would have been anti-dilutive, totaling 5,941,643 for the three months ended September 30, 2024. Certain shares of our common stock deliverable under the Forward Sale Agreements, IROP units, and RSUs were excluded from the earnings per share computation because their effect would have been anti-dilutive, totaling 18,949,573 for the nine months ended September 30, 2024.