XML 42 R27.htm IDEA: XBRL DOCUMENT v3.25.1
Earnings Per Common Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

20. Earnings Per Common Share

 

The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2024 and 2023.

 

   Year Ended December 31, 
   2024   2023 
Net income  $13,303,000   $7,844,000 
Less net income attributable to noncontrolling interests   17,000    18,000 
Net income available to common stockholders  $13,286,000   $7,826,000 
           
Weighted-average common shares outstanding - basic   39,951,510    37,070,366 
Dilutive effect of unvested shares   223,170    
—  
 
Weighted-average common shares used to compute diluted loss per share   40,174,680    37,070,366 
           
Net income per share attributable to common stockholders:          
Basic  $0.33   $0.21 
Diluted  $0.33   $0.21 

 

Basic earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is calculated by adjusting the weighted-average number of common shares outstanding for the potential dilutive effect of securities, including the effect of unvested shares, if applicable. For the years ended December 31, 2024 and 2023, the Company had no antidilutive shares outstanding.