Exhibit 12.1

Statement of Computation of Ratio of Fixed Charges and Preferred Dividends to Earnings

(in thousands)

Earnings	Three Months Ended March 31, 2016			Year Ended December 31,
				2015			2014			2013			2012			2011
Net income (loss)	$	8,925		$	25,092		$	21,050		$	34,692		$	7,893		$	9,656
Less:
Equity in earnings from unconsolidated joint ventures		—			—			—			(2,390	)		(1,698	)		(1,458	)
Plus:
Fixed charges		9,528			34,453			27,808			16,041			11,532			6,329
Distribution of cumulative earnings from unconsolidated joint venture		—			—			—			—			686			1,513
Less:
Interest capitalized		(15	)		(50	)		(52	)		(80	)		(50	)		(104	)
Total Earnings	$	18,438		$	59,495		$	48,806		$	48,263		$	18,363		$	15,936

Fixed Charges	Three Months Ended March 31, 2016		Year Ended December 31,
			2015		2014			2013			2012		2011
Interest expense	$	8,938	$	33,581	$	28,025		$	15,999		$	10,885	$	6,068
Capitalized interest		15		50		52			80			50		104
Amortization of financing costs		536		662		(432	)		(144	)		495		157
Portion of rental expense under operating leases deemed to be the equivalent of interest expense		39		160		163			106			102		—
Total Fixed Charges		9,528		34,453		27,808			16,041			11,532		6,329
Ratio of earnings to fixed charges		1.94x		1.73x		1.76x			3.01x			1.59x		2.52x
Ratio of earnings to combined fixed charges and preferred dividend		1.94x		1.73x		1.76x			3.01x			1.59x		2.52x