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Consolidated Statements of Changes in Equity - USD ($)
Total
Cumulative Effect, Period of Adoption, Adjustment
Total Stockholders' Equity
Total Stockholders' Equity
Cumulative Effect, Period of Adoption, Adjustment
Preferred Stock
Common Stock
Additional Paid in Capital
Cumulative Distributions to Stockholders
Accumulated Earnings
Accumulated Earnings
Cumulative Effect, Period of Adoption, 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)           27,283,269          
Issuance of common stock 83,487,253   83,487,253     $ 272,818 83,214,435        
Cost of issuing common stock (2,446,970)   (2,446,970)       (2,446,970)        
Restricted stock compensation expense (2,830)   (2,830)       (2,830)        
Net income 9,863,660   9,863,660           9,863,660    
Common dividends declared (12,535,116)   (12,535,116)         (12,535,116)      
Preferred dividends declared $ (4,740,000)   (4,740,000)         (4,740,000)      
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                    
Issuance of common stock (in shares)           17,479          
Issuance of common stock $ 53,516   53,516     $ 235 53,281        
Cost of issuing common stock (56,940)   (56,940)       (56,940)        
Restricted stock compensation expense (7,426)   (7,426)       (7,426)        
Net income 19,714,496   19,714,496           19,714,496    
Common dividends declared (13,581,323)   (13,581,323)         (13,581,323)      
Preferred dividends declared $ (4,740,000)   (4,740,000)         (4,740,000)      
Ending balance (in shares) at Dec. 31, 2023 2,400,000       2,400,000            
Balance at Dec. 31, 2023 $ 240,792,380 [1]   $ 240,692,880   $ 57,254,935 $ 522,487 $ 314,587,299 $ (179,045,749) $ 47,373,908   $ 99,500
Ending balance (in shares) at Dec. 31, 2023 52,248,631         52,248,631          
[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 December 31, 2023 and December 31, 2022, assets of the consolidated VIEs totaled $1,384,136,334 and $1,005,507,371, respectively and the liabilities of consolidated VIEs totaled $1,150,207,290 and $831,575,144, respectively. See Note 4 for further discussion.