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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2016
Mar. 31, 2015
INCOME:        
Rental Revenue $ 19,610,868 $ 16,205,524 $ 38,675,787 $ 31,635,739
Reimbursement Revenue 3,355,970 2,653,072 6,550,413 4,900,387
Lease Termination Income 0 0 0 238,625
TOTAL INCOME 22,966,838 18,858,596 45,226,200 36,774,751
EXPENSES:        
Real Estate Taxes 2,675,677 1,951,451 5,047,813 3,940,194
Operating Expenses 1,103,358 999,614 2,334,723 2,001,862
General & Administrative Expenses 2,221,445 1,567,725 3,557,409 2,808,310
Acquisition Costs 265,012 471,115 410,597 862,684
Depreciation 5,786,062 4,785,948 11,381,494 9,270,216
Amortization of Capitalized Lease Costs and Intangible Assets 486,360 529,820 972,971 1,005,315
TOTAL EXPENSES 12,537,914 10,305,673 23,705,007 19,888,581
OTHER INCOME (EXPENSE):        
Interest and Dividend Income 1,379,668 962,948 2,564,321 1,998,405
Gain on Sale of Securities Transactions, net 878,962 0 887,342 377,087
Interest Expense (5,316,936) (4,493,933) (10,429,216) (8,623,498)
Amortization of Financing Costs (238,671) (203,258) (473,038) (395,832)
TOTAL OTHER INCOME (EXPENSE) (3,296,977) (3,734,243) (7,450,591) (6,643,838)
NET INCOME 7,131,947 4,818,680 14,070,602 10,242,332
Less: Preferred Dividends 2,151,758 2,151,758 4,303,516 4,303,516
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 4,980,189 $ 2,666,922 $ 9,767,086 $ 5,938,816
BASIC INCOME - PER SHARE        
Net Income $ 0.11 $ 0.08 $ 0.22 $ 0.18
Less: Preferred Dividend (0.03) (0.04) (0.07) (0.08)
Net Income Attributable to Common Shareholders - Basic 0.08 0.04 0.15 0.1
DILUTED INCOME - PER SHARE        
Net Income 0.11 0.08 0.22 0.18
Less: Preferred Dividend (0.03) (0.04) (0.07) (0.08)
Net Income Attributable to Common Shareholders - Diluted $ 0.08 $ 0.04 $ 0.15 $ 0.1
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic 64,657,058 58,308,728 63,757,087 57,793,469
Diluted 64,736,469 58,462,729 63,828,310 57,936,743