Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Net Income Attributable to Common Shares, Weighted Average Common Shares and Effect of Dilutive Securities

The following table is a reconciliation of the numerator and denominator used in the computation of basic and diluted net (loss) income per common share for the three and six months ended June 30, 2023 and 2022.


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except share and per share data)	2023		2022		2023		2022
Numerator:
Net (loss) income	$	(792)	$	2,010	$	689	$	3,976
Net loss (income) attributable to noncontrolling interest	1		(23)		(8)		(47)
Net (loss) income attributable to common shares, basic	(791)		1,987		681		3,929
Net (loss) income attributable to noncontrolling interest	(1)		23		8		47
Net (loss) income attributable to common shares, diluted	$	(792)	$	2,010	$	689	$	3,976

Denominator:
Weighted average common shares outstanding, basic	61,043,531		48,140,041		59,600,630		46,279,122
Effect of dilutive shares for diluted net income per common share:
OP Units	—		527,539		509,588		539,054
Unvested RSUs	—		235,295		164,322		264,784
Unsettled shares under open forward equity contracts	—		48,958		20,194		194,508
Weighted average common shares outstanding, diluted	61,043,531		48,951,833		60,294,734		47,277,468

Net (loss) income available to common stockholders per common share, basic	$	(0.01)	$	0.04	$	0.01	$	0.08
Net (loss) income available to common stockholders per common share, diluted	$	(0.01)	$	0.04	$	0.01	$	0.08