Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):


	Three Months Ended March 31,
		2025		2024
Numerator for basic and diluted net income per common share:
Net income attributable to common shareholders		$	21,152	$	26,370
Net income available to participating securities (1)		—		(10)
Net income available to common shareholders from operations		$	21,152	$	26,360
Denominator:
Weighted-average outstanding shares of common stock		19,530,579		19,220,340
Dilutive effect of:
Equity incentive plans		155,786		4,582
Employee Stock Purchase Plan		4,457		8,814
Common stock and common stock equivalents		19,690,822		19,233,736
Net income per share from operations:
Basic		$	1.08	$	1.37
Diluted		$	1.07	$	1.37

(1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).