EARNINGS (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Earnings Per Share, Basic and Diluted

The following table presents the computation of the Company's basic and diluted net income (loss) per share attributable to common stockholders for the three and six months ended June 30, 2023 and 2022:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator - Basic:
Net income (loss)	$	4,629,953	$	2,390,344	$	51,032	$	(9,682,820)
Less: net (income) loss attributable to noncontrolling interest in Operating Partnership	(649,643)		(219,214)		166,556		1,708,815
Preferred stock dividends	(921,875)		(921,875)		(1,843,750)		(1,843,750)
Net income (loss) attributable to common stockholders	$	3,058,435	$	1,249,255	$	(1,626,162)	$	(9,817,755)

Numerator - Diluted
Net income (loss)	$	4,629,953	$	2,390,344	$	51,032	$	(9,682,820)
Preferred stock dividends	(921,875)		(921,875)		(1,843,750)		(1,843,750)
Net income (loss) attributable to common stockholders	$	3,708,078	$	1,468,469	$	(1,792,718)	$	(11,526,570)

Denominator:
Weighted average shares outstanding - basic	7,532,106		7,478,973		7,532,080		7,505,673
Operating Partnership Units - Class C	1,599,898		1,312,382		—		—
Operating Partnership Units - Classes M, P and R	1,506,307		1,430,135		—		—
Weighted average shares outstanding - diluted	10,638,311		10,221,490		7,532,080		7,505,673

Earnings (loss) per share attributable to common stockholders:
Basic	$	0.41	$	0.17	$	(0.22)	$	(1.31)
Diluted	$	0.35	$	0.14	$	(0.22)	$	(1.31)