| Schedule of computation of earnings per share |
The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per share data): | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | Net Income (Loss) Attributable to Common Stockholders | | $ | 3,004 | | $ | (1,641) | | $ | 4,067 | | $ | (2,820) | | | | | | | | | | | | | | Weighted Average Number of Common Shares Outstanding | | | 17,066,917 | | | 14,202,796 | | | 16,310,036 | | | 14,414,682 | Weighted Average Number of Common Shares Applicable to OP Units using Treasury Stock Method (1) | | | 1,223,854 | | | 1,223,854 | | | 1,223,854 | | | 1,223,854 | Total Shares Applicable to Diluted Earnings per Share | | | 18,290,771 | | | 15,426,650 | | | 17,533,890 | | | 15,638,536 | | | | | | | | | | | | | | Per Common Share Data: | | | | | | | | | | | | | Net Income (Loss) Attributable to Common Stockholders | | | | | | | | | | | | | Basic | | $ | 0.18 | | $ | (0.12) | | $ | 0.25 | | $ | (0.20) | Diluted | | $ | 0.16 | | $ | (0.12) | | $ | 0.23 | | $ | (0.20) |
| (1) | Represents OP Units issued to CTO and its subsidiaries in connection with our formation transactions (See Note 19, “Related Party Management Company”). |
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