Quarters Ended 2025

March 31

June 30

September 30

December 31

Total revenue

$

48,312,344

$

48,794,144

$

38,013,122

$

41,267,618

Total operating expenses

42,199,620

42,219,391

37,498,364

41,773,580

Net operating income (loss)

$

6,112,724

$

6,574,753

$

514,758

$

(505,962

)

Net income (loss)

$

4,733,526

$

1,556,424

$

(5,558,390

)

$

(8,510,693

)

Net income (loss) attributable to common stockholders

$

2,690,529

$

(416,328

)

$

(7,484,536

)

$

(10,453,925

)

Income (loss) per share attributable to common stockholders– basic and diluted

$

0.13

$

(0.02

)

$

(0.37

)

$

(0.51

)

Net income (loss) available to operating partnership unitholders

$

2,739,214

$

(437,889

)

$

(7,552,703

)

$

(10,505,006

)

Income (loss) per unit attributable to operating partnership unitholders– basic and diluted

$

0.13

$

(0.02

)

$

(0.37

)

$

(0.51

)

Quarters Ended 2024

March 31

June 30

September 30

December 31

Total revenue

$

46,548,432

$

50,694,367

$

40,699,981

$

43,951,507

Total operating expenses

40,874,320

41,394,584

38,945,047

40,032,474

Net operating income

$

5,674,112

$

9,299,783

$

1,754,934

$

3,919,033

Net income (loss)

$

1,322,821

$

4,664,232

$

(3,689,621

)

$

(1,117,578

)

Net income (loss) attributable to common stockholders

$

(659,373

)

$

2,621,768

$

(5,603,761

)

$

(3,033,515

)

Income (loss) per share attributable to common stockholders– basic and diluted

$

(0.03

)

$

0.13

$

(0.29

)

$

(0.15

)

Net income (loss) available to operating partnership unitholders

$

(671,491

)

$

2,669,919

$

(5,683,934

)

$

(3,111,890

)

Income (loss) per unit attributable to operating partnership unitholders– basic and diluted

$

(0.03

)

$

0.13

$

(0.28

)

$

(0.16

)