EARNINGS (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) Per Share, Basic and Diluted

The following table presents the computation of the Company's basic and diluted net income (loss) per share attributable to common stockholders for the three and six months ended June 30, 2024 and 2023:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Numerator - Basic:
Net income	$	1,261,736	$	4,629,953	$	5,899,059	$	51,032
Less: net loss (income) attributable to noncontrolling interest in Operating Partnership	63,181		(649,643)		(849,683)		166,556
Preferred stock dividends	(921,875)		(921,875)		(1,843,750)		(1,843,750)
Net income (loss) attributable to common stockholders	$	403,042	$	3,058,435	$	3,205,626	$	(1,626,162)
Numerator - Diluted:
Net income	$	1,261,736	$	4,629,953	$	5,899,059	$	51,032
Preferred stock dividends	(921,875)		(921,875)		(1,843,750)		(1,843,750)
Net income (loss) attributable to common stockholders and noncontrolling interests	$	339,861	$	3,708,078	$	4,055,309	$	(1,792,718)
Denominator:
Weighted average shares outstanding - basic	9,441,485		7,532,106		9,002,819		7,532,080
Operating Partnership Units (a)	1,977,630		3,106,205		2,386,287		—
Weighted average shares outstanding - diluted	11,419,115		10,638,311		11,389,106		7,532,080
Earnings (loss) per share attributable to common stockholders:
Basic	$	0.04	$	0.41	$	0.36	$	(0.22)
Earnings (loss) per share attributable to common stockholders and noncontrolling interests:
Diluted	$	0.03	$	0.35	$	0.36	$	(0.22)

(a)    In previous periods, the Company presented various classes of Operating Partnership Units separately within the computation of the denominator of earnings (loss) per share attributable to common stockholders. Amounts have been reclassified in the current year to present a single presentation of the dilutive effect of Operating Partnership Units.