Three Months Ended June 30,

Six Months Ended June 30,

(dollars in thousands)

2023

2022

2023

2022

Numerator:

Net income (loss) attributable to Acadia shareholders

$

9,276

$

(374

)

$

22,636

$

16,464

Less: earnings attributable to unvested participating securities

(247

)

—

(490

)

(408

)

Income (loss) from continuing operations net of income attributable to participating securities for basic earnings per share

$

9,029

$

(374

)

$

22,146

$

16,056

Denominator:

Weighted average shares for basic earnings per share

95,259,924

94,944,772

95,224,901

94,119,752

Weighted average shares for diluted earnings per share

95,259,924

94,944,772

95,224,901

94,119,752

Basic earnings per Common Share from continuing operations attributable to Acadia

$

0.09

$

0.00

$

0.23

$

0.17

Diluted earnings per Common Share from continuing operations attributable to Acadia

$

0.09

$

0.00

$

0.23

$

0.17

Anti-Dilutive Shares Excluded from Denominator:

Series A Preferred OP Units

188

188

188

188

Series A Preferred OP Units - Common share equivalent

25,067

25,067

25,067

25,067

Series C Preferred OP Units

126,384

126,593

126,384

126,593

Series C Preferred OP Units - Common share equivalent

438,831

439,556

438,831

439,556

Restricted shares

96,143

69,948

96,143

69,948