EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2025

Reconciliation of basic and diluted income per common share

The following table presents a reconciliation of basic and diluted earnings (losses) per common share for the periods presented (dollars in thousands, except per share amounts):


	For the Three Months Ended March 31,
	2025			2024
Net (loss) income	$	(730	)	$	4,924
Net income allocated to preferred shares		(5,313	)		(4,822	)
Carrying value in excess of consideration paid for preferred shares		—			242
Net loss allocable to non-controlling interest, net of taxes		184			212
Net (loss) income allocable to common shares	$	(5,859	)	$	556

Weighted average number of common shares outstanding:
Weighted average number of common shares outstanding - basic		6,970,241			7,362,135
Weighted average number of warrants outstanding (1)		391,995			391,995
Total weighted average number of common shares outstanding - basic		7,362,236			7,754,130
Effect of dilutive securities - unvested restricted stock(2)		—			279,683
Weighted average number of common shares outstanding - diluted		7,362,236			8,033,813

Net (loss) income per common share - basic	$	(0.80	)	$	0.07
Net (loss) income per common share - diluted	$	(0.80	)	$	0.07

(1)

See Note 11 for further details regarding the warrants.

(2)

Excludes 431,552 shares of common stock as they were anti-dilutive for the three months ended March 31, 2025.

ACRES Commercial Realty Corp. 10-Q