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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

15. Earnings Per Common Share

 

The following table sets forth the computation of basic and diluted earnings per common share for the three months ended March 31, 2025 and 2024.

 

   Three Months Ended
March 31,		 
   2025   2024 
Net income  $8,661,000   $3,687,000 
Less net income (loss) attributable to noncontrolling interests   (3,000)   (1,000)
Net income available to common stockholders  $8,664,000   $3,688,000 
           
Weighted-average common shares outstanding - basic   40,192,036    39,769,398 
Dilutive effect of unvested shares   42,988    
—
 
Weighted-average common shares used to compute diluted loss per share   40,235,024    39,769,398 
           
Net income per share attributable to common stockholders:          
Basic  $0.22   $0.09 
Diluted  $0.22   $0.09 

 

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, if applicable. For the three months ended March 31, 2025, the Company had 300,000 antidilutive shares outstanding. The Company had no anti-dilutive shares outstanding as of December 31, 2024.