Three Months Ended September 30,

Nine Months Ended September 30,

(dollars in thousands)

2021

2020

2021

2020

Numerator:

Net income (loss) attributable to Acadia

$

12,069

$

(9,030

)

$

21,149

$

1,966

Less: net income attributable to participating securities

(156

)

—

(468

)

(233

)

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

$

11,913

$

(9,030

)

$

20,681

$

1,733

Denominator:

Weighted average shares for basic earnings (loss) per share

88,480,844

86,308,500

87,217,422

86,486,017

Effect of dilutive securities:

Employee unvested restricted shares

—

Denominator for diluted earnings per share

88,480,844

86,308,500

87,217,422

86,486,017

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

$

0.13

$

(0.10

)

$

0.24

$

0.02

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

76,394

70,827

76,394