Earnings Per Share

6 Months Ended

Jun. 30, 2020

The Company’s common shares outstanding consist of all shares issued and outstanding, including unvested restricted shares. Basic and diluted EPS are calculated under the two-class method. Restricted stock units are considered dilutive, although there were no restricted stock units outstanding during the six months ended June 30, 2020. The following table sets forth the computation for basic and diluted EPS and reconciliation between basic and diluted shares outstanding:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net Income	$	13,638,479	$	14,157,569	$	11,110,111	$	33,713,416
Less: Net loss (income) attributable to redeemable noncontrolling interest	(1,437,789)		(962,417)		2,620,687		(3,585,622)
Net income attributable to common shareholders	$	12,200,690	$	13,195,152	$	13,730,798	$	30,127,794

Weighted average number of outstanding shares - Basic	3,220,973		3,478,307		3,246,867		3,486,032
Dilutive impact of restricted stock units	—		—		—		472
Weighted average number of outstanding shares - Diluted	3,220,973		3,478,307		3,246,867		3,486,504

Earnings per share attributable to common shareholders
Basic	$	3.79	$	3.79	$	4.23	$	8.64
Diluted	$	3.79	$	3.79	$	4.23	$	8.64