Note 10 - Earnings Per Share

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 10 - EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share data) :

	For the Three Months Ended March 31,
	2022			2021
Numerator:
Net Income	$	5,134		$	1,538
Less: Preferred Stock Dividends		-			(4	)
Less: Net Income Attributable to OP Interest		(88	)		(56	)
Less: Net Income Attributable to Restricted Stock Units		(29	)		(21	)
Net Income Attributable to Common Stockholders	$	5,017		$	1,457
Denominator:
Weighted Average Shares of Common Stock Outstanding - Basic		21,251,909			9,921,083
Dilutive Effect of OP Units		438,375			-
Dilutive Effect of Vested Restricted Stock Units		130,160			101,218
Dilutive Effect of Options and Warrants		65,099			-
Dilutive Effect of Unvested Restricted Stock Units		45,809			-
Weighted Average Shares of Common Stock Outstanding - Diluted		21,931,352			10,022,301
Earnings Per Share - Basic
Net Income Attributable to Common Stockholders	$	0.24		$	0.15
Earnings Per Share - Diluted
Net Income Attributable to Common Stockholders	$	0.23		$	0.15

During the three months ended March 31, 2022, the effect of including OP Units, vested RSUs, outstanding stock options, outstanding warrants and unvested RSUs were included in our calculation of weighted average shares of common stock outstanding – diluted. During the three months ended March 31, 2021, the effect of including vested RSUs were included in our calculation of weighted average shares of common stock outstanding – diluted. The effect of OP Units, outstanding stock options and outstanding warrants were excluded in our calculation of weighted average shares of common stock outstanding – diluted as their inclusion would have been anti-dilutive.