Three Months Ended June 30,

Six Months Ended June 30,

(dollars in thousands)

2021

2020

2021

2020

Numerator:

Net income attributable to Acadia

$

3,918

$

19,410

$

9,080

$

10,996

Less: net income attributable to participating securities

(156

)

(244

)

(312

)

(233

)

Income from continuing operations net of income attributable to participating securities

$

3,762

$

19,166

$

8,768

$

10,763

Denominator:

Weighted average shares for basic earnings per share

86,824,445

86,179,950

86,575,240

86,575,751

Effect of dilutive securities:

Employee unvested restricted shares

—

Denominator for diluted earnings per share

86,824,445

86,179,950

86,575,240

86,575,751

Basic and diluted earnings and basic income per Common Share from continuing operations attributable to Acadia

$

0.04

$

0.22

$

0.10

$

0.12

Anti-Dilutive Shares Excluded from Denominator:

Series A Preferred OP Units

188

Series A Preferred OP Units - Common share equivalent

25,067

Series C Preferred OP Units

126,593

Series C Preferred OP Units - Common share equivalent

439,556

Restricted shares

70,827

76,433

70,827

76,433