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Earnings (Loss) Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted

 

Year Ended December 31,

 

(dollars in thousands)

2024

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

 

 

Net income (loss) attributable to Acadia shareholders

$

21,650

 

 

$

19,873

 

 

$

(35,445

)

Less: net income attributable to participating securities

 

(1,189

)

 

 

(978

)

 

 

(805

)

Income (loss) from continuing operations net of income attributable to participating securities for basic earnings per share

 

20,461

 

 

 

18,895

 

 

 

(36,250

)

Impact of City Point Loan share conversion option (a)

 

—

 

 

 

—

 

 

 

(1,804

)

Income from continuing operations net of income attributable to participating securities for diluted earnings per share

$

20,461

 

 

$

18,895

 

 

$

(38,054

)

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average shares for basic earnings (loss) per share

 

108,226,767

 

 

 

95,283,752

 

 

 

94,575,251

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Series A Preferred OP Units

 

—

 

 

 

—

 

 

 

—

 

Employee unvested restricted shares

 

—

 

 

 

—

 

 

 

—

 

Assumed settlement of forward sales agreements (Note 10)

 

31,095

 

 

 

—

 

 

 

—

 

City Point Loan common stock conversion option (Note 10) (a)

 

—

 

 

 

—

 

 

 

68,215

 

Denominator for diluted earnings per share

 

108,257,862

 

 

 

95,283,752

 

 

 

94,643,466

 

 

 

 

 

 

 

 

 

 

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

$

0.19

 

 

$

0.20

 

 

$

(0.38

)

Diluted earnings (loss) per Common Share from continuing operations attributable to Acadia shareholders

$

0.19

 

 

$

0.20

 

 

$

(0.40

)

 

 

 

 

 

 

 

 

 

Anti-Dilutive Shares Excluded from Denominator:

 

 

 

 

 

 

 

 

Series A Preferred OP Units

 

188

 

 

 

188

 

 

 

188

 

Series A Preferred OP Units - Common share equivalent

 

25,067

 

 

 

25,067

 

 

 

25,067

 

 

 

 

 

 

 

 

 

 

Series C Preferred OP Units

 

66,519

 

 

 

126,384

 

 

 

126,384

 

Series C Preferred OP Units - Common share equivalent

 

230,967

 

 

 

438,831

 

 

 

438,831

 

Restricted shares

 

81,175

 

 

 

90,006

 

 

 

68,832

 
(a)
The impact of the assumed conversion of dilutive convertible securities is related to the assumed conversion of potential Common Shares of the Company that could be subsequently issued in connection with the City Point Loan (Note 10) for the stub-period until the put rights were modified for a cash-only settlement option in the third quarter of 2022.