ACRES Commercial Realty Corp. Earnings Per Share Disclosure
NOTE 14 - EARNINGS PER 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):
|
|
Years Ended December 31, |
|
|||||||||
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|||
Net income |
|
$ |
28,695 |
|
|
$ |
21,848 |
|
|
$ |
10,426 |
|
Net income allocated to preferred shares |
|
|
(20,386 |
) |
|
|
(19,422 |
) |
|
|
(19,422 |
) |
Carrying value in excess of consideration paid for preferred shares |
|
|
242 |
|
|
|
— |
|
|
|
— |
|
Net loss allocable to non-controlling interest, net of taxes |
|
|
572 |
|
|
|
542 |
|
|
|
197 |
|
Net income allocable to common shares |
|
$ |
9,123 |
|
|
$ |
2,968 |
|
|
$ |
(8,799 |
) |
|
|
|
|
|
|
|
|
|
|
|||
Weighted average number of common shares outstanding: |
|
|
|
|
|
|
|
|
|
|||
Weighted average number of common shares outstanding - basic |
|
|
7,261,635 |
|
|
|
8,024,295 |
|
|
|
8,380,490 |
|
Weighted average number of warrants outstanding (1) |
|
|
391,995 |
|
|
|
391,995 |
|
|
|
431,271 |
|
Total weighted average number of common shares outstanding - basic |
|
|
7,653,630 |
|
|
|
8,416,290 |
|
|
|
8,811,761 |
|
Effect of dilutive securities - unvested restricted stock |
|
|
271,273 |
|
|
|
149,768 |
|
|
|
— |
|
Weighted average number of common shares outstanding - diluted |
|
|
7,924,903 |
|
|
|
8,566,058 |
|
|
|
8,811,761 |
|
|
|
|
|
|
|
|
|
|
|
|||
Net income per common share - basic |
|
$ |
1.19 |
|
|
$ |
0.35 |
|
|
$ |
(1.00 |
) |
Net income per common share - diluted |
|
$ |
1.15 |
|
|
$ |
0.35 |
|
|
$ |
(1.00 |
) |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 17, 2025 | Showing above |
| 2016 | Mar 16, 2017 | |
| 2015 | Mar 10, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.