COMMON STOCK AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2024

COMMON STOCK AND EARNINGS PER SHARE

Schedule of computation of earnings per share

The following is a reconciliation of basic and diluted earnings per common share for each of the periods presented (in thousands, except share and per share data):

	Year Ended
	December 31, 2024		December 31, 2023		December 31, 2022
Basic and Diluted Earnings:
Net Income (Loss) Attributable to Common Stockholders, Used in Basic EPS	$	(8,779)	$	758	$	(1,623)
Add Back: Effect of Dilutive Interest Related to 2025 Notes (1)		—		—		—
Net Income (Loss) Attributable to Common Stockholders, Used in Diluted EPS	$	(8,779)	$	758	$	(1,623)
Basic and Diluted Shares:
Weighted Average Shares Outstanding, Basic		25,361,379		22,529,703		18,508,201
Common Shares Applicable to Unvested Restricted Stock Using the Treasury Stock Method		39,797		—		—
Common Shares Applicable to Dilutive Effect of 2025 Notes (2)		—		—		—
Weighted Average Shares Outstanding, Diluted		25,401,176		22,529,703		18,508,201
Per Share Information:
Net Income (Loss) Attributable to Common Stockholders
Basic and Diluted	$	(0.35)	$	0.03	$	(0.09)

(1) As applicable, includes interest expense, amortization of discount, amortization of fees, and other changes in net income or loss that would result from the assumed conversion of the 2025 Convertible Senior Notes to derive FFO effective January 1, 2022 due to the implementation of ASU 2020-06 which requires presentation on an if-converted basis. For the years ended December 31, 2024 and 2023 a total of $2.1 million of interest was not included, respectively, and for the year ended December 31, 2022 a total of $2.2 million of interest was not included, as the impact of the 2025 Notes would be antidilutive to the net income (loss) attributable to common stockholders in each respective period.

(2) A total of 3.6 million, 3.3 million shares, and 3.1 million shares, representing the dilutive impact of the 2025 Notes, upon adoption of ASU 2020-06 effective January 1, 2022, were not included in the computation of diluted net loss attributable to common stockholders for the years ended December 31, 2024, 2023 or 2022, respectively, because they were antidilutive to the net income (loss) attributable to common stockholders in each respective period.