EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following tables provide additional disclosure regarding the computation for the three months ended March 31, 2022 and March 31, 2021:

	Three Months Ended March 31, 2022				Three Months Ended March 31, 2021
Net income			$	2,954,799			$	2,808,643
Less dividends:
Common stock	$	3,133,509			$	2,244,904
Preferred stock	1,184,958				3,708
			4,318,467				2,248,612
Undistributed earnings (deficit)			$	(1,363,668)			$	560,031

	Unvested Share-Based Payment Awards		Common Stock		Unvested Share-Based Payment Awards		Common Stock
Distributed earnings	$	0.09	$	0.09	$	0.09	$	0.09
Undistributed earnings (deficit)	—		(0.04)		0.02		0.02
Total	$	0.09	$	0.05	$	0.11	$	0.11

Schedule of Weighted Average Number of Shares

	For the three months ended March 31,
	2022	2021
Basic weighted average shares of common stock	36,460,452	24,938,883
Weighted average of non-vested restricted stock	4,500	4,500
Diluted weighted average shares of common stock outstanding	36,464,952	24,943,383