Earnings Per Share

3 Months Ended

Mar. 31, 2026

14. Earnings Per Share

The Company's net (loss) income and weighted-average number of shares outstanding for the three months ended March 31, 2026 and 2025 consist of the following ($ and shares in thousands):


	For the Three Months Ended March 31,
	2026			2025
Net (loss) income attributable to JPMREIT stockholders	$	(2,778	)	$	1,681
Weighted-average shares of common stock outstanding, basic		82,216			50,719
Weighted-average shares of common stock outstanding, diluted		82,216			50,724

The calculation of basic and diluted net (loss) income per share amounts for the three months ended March 31, 2026 and 2025 consists of the following ($ and shares in thousands except per-share numbers):


	For the Three Months Ended March 31,
	2026			2025
Basic Net (Loss) Income per Share Attributable to JPMREIT Stockholders
Numerator:
Net (loss) income attributable to JPMREIT stockholders	$	(2,778	)	$	1,681
Denominator:
Weighted-average shares of common stock outstanding		82,216			50,719
Basic net (loss) income per share of common stock	$	(0.03	)	$	0.03

Diluted Net (Loss) Income per Share Attributable to JPMREIT Stockholders
Numerator:
Net (loss) income attributable to JPMREIT stockholders	$	(2,778	)	$	1,681
Denominator:
Weighted-average shares of common stock outstanding		82,216			50,724
Diluted net (loss) income per share of common stock	$	(0.03	)	$	0.03

For the three months ended March 31, 2026, unvested Class E shares awarded to the Company's independent directors as compensation for their service are excluded from the calculation of diluted earnings per share as the inclusion of such potential common shares in the calculations would be anti-dilutive for the period. There were no other potentially dilutive, unvested common shares for the three months ended March 31, 2026 and 2025.