Three Months Ended June 30,

Six Months Ended June 30,

(dollars in thousands)

2022

2021

2022

2021

Numerator:

(As Restated)

(As Restated)

Net (loss) income attributable to Acadia

$

(374

)

$

3,711

$

16,464

$

8,528

Less: net income attributable to participating securities

—

(156

)

(408

)

(312

)

(Loss) income from continuing operations net of income attributable to participating securities

$

(374

)

$

3,555

$

16,056

$

8,216

Denominator:

Weighted average shares for basic earnings per share

94,944,772

86,824,445

94,119,752

86,575,240

Effect of dilutive securities:

Series A Preferred OP Units

—

—

—

—

Employee unvested restricted shares

—

—

—

—

Denominator for diluted earnings per share

94,944,772

86,824,445

94,119,752

86,575,240

Basic and diluted (loss) earnings per Common Share from continuing operations attributable to Acadia

$

0.00

$

0.04

$

0.17

$

0.09

Anti-Dilutive Shares Excluded from Denominator:

Series A Preferred OP Units

188

188

188

188

Series A Preferred OP Units - Common share equivalent

25,067

25,067

25,067

25,067

Series C Preferred OP Units

126,593

126,593

126,593

126,593

Series C Preferred OP Units - Common share equivalent

439,556

439,556

439,556

439,556

Restricted shares

69,948

70,827

69,948

70,827