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Earnings Per Common Share (Tables)
12 Months Ended
Dec. 31, 2024
Earnings Per Common Share [Abstract]  
Schedule of Basic and Diluted 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