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Consolidated Statement of Changes in Equity - USD ($)
Total
Transition adjustment
Total Stockholders' Equity
Total Stockholders' Equity
Transition adjustment
Preferred Stock
Common Stock
Additional Paid-in Capital
Cumulative Distributions to Stockholders
Accumulated Earnings
Accumulated Earnings
Transition adjustment
Noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2021         2,400,000            
Balance at Dec. 31, 2021 $ 169,375,500   $ 169,276,000   $ 57,254,935 $ 249,434 $ 233,833,749 $ (143,449,310) $ 21,387,192   $ 99,500
Beginning balance (in shares) at Dec. 31, 2021           24,947,883          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock (in shares)           27,277,269          
Issuance of common stock 83,468,443   83,468,443     $ 272,773 83,195,670        
Cost of issuing common stock (2,404,070)   (2,404,070)       (2,404,070)        
Restricted stock compensation expense 4,638   4,638       4,638        
Net income 2,954,799   2,954,799           2,954,799    
Common stock dividends (3,133,509)   (3,133,509)         (3,133,509)      
Preferred stock dividends (1,184,958)   (1,184,958)         (1,184,958)      
Ending balance (in shares) at Mar. 31, 2022         2,400,000            
Balance at Mar. 31, 2022 249,080,843   248,981,343   $ 57,254,935 $ 522,207 314,629,987 (147,767,777) 24,341,991   99,500
Ending balance (in shares) at Mar. 31, 2022           52,225,152          
Beginning balance (in shares) at Dec. 31, 2021         2,400,000            
Balance at Dec. 31, 2021 169,375,500   169,276,000   $ 57,254,935 $ 249,434 233,833,749 (143,449,310) 21,387,192   99,500
Beginning balance (in shares) at Dec. 31, 2021           24,947,883          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 7,798,926                    
Common stock dividends (9,401,247)                    
Preferred stock dividends (3,555,042)                    
Ending balance (in shares) at Sep. 30, 2022         2,400,000            
Balance at Sep. 30, 2022 245,266,509   245,167,009   $ 57,254,935 $ 522,252 314,609,303 (156,405,599) 29,186,118   99,500
Ending balance (in shares) at Sep. 30, 2022           52,231,152          
Beginning balance (in shares) at Dec. 31, 2021         2,400,000            
Balance at Dec. 31, 2021 $ 169,375,500   169,276,000   $ 57,254,935 $ 249,434 233,833,749 (143,449,310) 21,387,192   99,500
Beginning balance (in shares) at Dec. 31, 2021           24,947,883          
Ending balance (in shares) at Dec. 31, 2022 2,400,000       2,400,000            
Balance at Dec. 31, 2022 $ 243,001,497 [1] $ (3,591,440) 242,901,997 $ (3,591,440) $ 57,254,935 $ 522,252 314,598,384 (160,724,426) 31,250,852 $ (3,591,440) 99,500
Ending balance (in shares) at Dec. 31, 2022 52,231,152         52,231,152          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2016-13                    
Beginning balance (in shares) at Mar. 31, 2022         2,400,000            
Balance at Mar. 31, 2022 $ 249,080,843   248,981,343   $ 57,254,935 $ 522,207 314,629,987 (147,767,777) 24,341,991   99,500
Beginning balance (in shares) at Mar. 31, 2022           52,225,152          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock (in shares)           6,000          
Issuance of common stock 18,810   18,810     $ 45 18,765        
Cost of issuing common stock (14,196)   (14,196)       (14,196)        
Restricted stock compensation expense (14,334)   (14,334)       (14,334)        
Net income 3,343,852   3,343,852           3,343,852    
Common stock dividends (3,133,869)   (3,133,869)         (3,133,869)      
Preferred stock dividends (1,185,042)   (1,185,042)         (1,185,042)      
Ending balance (in shares) at Jun. 30, 2022         2,400,000            
Balance at Jun. 30, 2022 248,096,064   247,996,564   $ 57,254,935 $ 522,252 314,620,222 (152,086,688) 27,685,843   99,500
Ending balance (in shares) at Jun. 30, 2022           52,231,152          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock (in shares)           0          
Issuance of common stock 0   0     $ 0 0        
Cost of issuing common stock (14,352)   (14,352)       (14,352)        
Restricted stock compensation expense 3,433   3,433       3,433        
Net income 1,500,275   1,500,275           1,500,275    
Common stock dividends (3,133,869)   (3,133,869)         (3,133,869)      
Preferred stock dividends (1,185,042)   (1,185,042)         (1,185,042)      
Ending balance (in shares) at Sep. 30, 2022         2,400,000            
Balance at Sep. 30, 2022 $ 245,266,509   245,167,009   $ 57,254,935 $ 522,252 314,609,303 (156,405,599) 29,186,118   99,500
Ending balance (in shares) at Sep. 30, 2022           52,231,152          
Beginning balance (in shares) at Dec. 31, 2022 2,400,000       2,400,000            
Balance at Dec. 31, 2022 $ 243,001,497 [1] (3,591,440) 242,901,997 (3,591,440) $ 57,254,935 $ 522,252 314,598,384 (160,724,426) 31,250,852 (3,591,440) 99,500
Beginning balance (in shares) at Dec. 31, 2022 52,231,152         52,231,152          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Cost of issuing common stock $ (14,040)   (14,040)       (14,040)        
Restricted stock compensation expense 3,358   3,358       3,358        
Net income 5,766,691   5,766,691           5,766,691    
Common stock dividends (3,133,869)   (3,133,869)         (3,133,869)      
Preferred stock dividends (1,184,958)   (1,184,958)         (1,184,958)      
Ending balance (in shares) at Mar. 31, 2023         2,400,000            
Balance at Mar. 31, 2023 $ 240,847,239   240,747,739   $ 57,254,935 $ 522,252 314,587,702 (165,043,253) 33,426,103   99,500
Ending balance (in shares) at Mar. 31, 2023           52,231,152          
Beginning balance (in shares) at Dec. 31, 2022 2,400,000       2,400,000            
Balance at Dec. 31, 2022 $ 243,001,497 [1] $ (3,591,440) 242,901,997 $ (3,591,440) $ 57,254,935 $ 522,252 314,598,384 (160,724,426) 31,250,852 $ (3,591,440) 99,500
Beginning balance (in shares) at Dec. 31, 2022 52,231,152         52,231,152          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income $ 14,700,645                    
Common stock dividends (9,923,919)                    
Preferred stock dividends $ (3,555,042)                    
Ending balance (in shares) at Sep. 30, 2023 2,400,000       2,400,000            
Balance at Sep. 30, 2023 $ 240,595,347 [1]   240,495,847   $ 57,254,935 $ 522,312 314,561,930 (174,203,387) 42,360,057   99,500
Ending balance (in shares) at Sep. 30, 2023 52,231,152         52,231,152          
Beginning balance (in shares) at Mar. 31, 2023         2,400,000            
Balance at Mar. 31, 2023 $ 240,847,239   240,747,739   $ 57,254,935 $ 522,252 314,587,702 (165,043,253) 33,426,103   99,500
Beginning balance (in shares) at Mar. 31, 2023           52,231,152          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock 13,620   13,620     $ 60 13,560        
Cost of issuing common stock (14,196)   (14,196)       (14,196)        
Restricted stock compensation expense (10,784)   (10,784)       (10,784)        
Net income 2,574,227   2,574,227           2,574,227    
Common stock dividends (3,133,869)   (3,133,869)         (3,133,869)      
Preferred stock dividends (1,185,042)   (1,185,042)         (1,185,042)      
Ending balance (in shares) at Jun. 30, 2023         2,400,000            
Balance at Jun. 30, 2023 239,091,195   238,991,695   $ 57,254,935 $ 522,312 314,576,282 (169,362,164) 36,000,330   99,500
Ending balance (in shares) at Jun. 30, 2023           52,231,152          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Cost of issuing common stock (14,352)   (14,352)       (14,352)        
Net income 6,359,727   6,359,727           6,359,727    
Common stock dividends (3,656,181)   (3,656,181)         (3,656,181)      
Preferred stock dividends $ (1,185,042)   (1,185,042)         (1,185,042)      
Ending balance (in shares) at Sep. 30, 2023 2,400,000       2,400,000            
Balance at Sep. 30, 2023 $ 240,595,347 [1]   $ 240,495,847   $ 57,254,935 $ 522,312 $ 314,561,930 $ (174,203,387) $ 42,360,057   $ 99,500
Ending balance (in shares) at Sep. 30, 2023 52,231,152         52,231,152          
[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of September 30, 2023 and December 31, 2022, assets of consolidated VIEs totaled $1,384,961,307 and $1,005,507,371, respectively and the liabilities of consolidated VIEs totaled $1,149,063,668 and $831,575,144 respectively. See Note 4 for further discussion.