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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Dividends in excess of net income [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Non-Controlling Interest [Member]
--- | --- | --- | --- | --- | --- | ---
Balance at Dec. 31, 2012 | $ 197,965,134 | $ 1,144 | $ 217,768,918 | $ (21,166,509) | $ (1,294,267) | $ 2,655,848
Balance (in shares) at Dec. 31, 2012 |  | 11,436,044 |  |  |  |
Issuance of common stock, net of issuance costs | 93,393,049 | $ 337 | 93,392,712 | 0 | 0 | 0
Issuance of common stock, net of issuance costs (in shares) |  | 3,375,000 |  |  |  |
Issuance of restricted stock under the Equity Incentive Plan | 9 | $ 9 | 0 | 0 | 0 | 0
Issuance of restricted stock under the Equity Incentive Plan (in shares) |  | 87,950 |  |  |  |
Forfeiture of restricted stock | (2) | $ (2) | 0 | 0 | 0 | 0
Forfeiture of restricted stock (in shares) |  | (15,680) |  |  |  |
Vesting of restricted stock | 1,812,532 | $ 0 | 1,812,532 | 0 | 0 | 0
Dividends and distributions declared for the period | (22,957,311) | 0 | 0 | (22,387,217) | 0 | (570,094)
Other comprehensive income (loss) - change in fair value of interest rate swaps | 1,812,535 | 0 | 0 | 0 | 1,765,984 | 46,551
Net income | 20,189,611 | 0 | 0 | 19,674,575 | 0 | 515,036
Balance at Dec. 31, 2013 | 292,215,557 | $ 1,488 | 312,974,162 | (23,879,151) | 471,717 | 2,647,341
Balance (in shares) at Dec. 31, 2013 |  | 14,883,314 |  |  |  |
Issuance of common stock, net of issuance costs | 73,302,109 | $ 259 | 73,301,850 | 0 | 0 | 0
Issuance of common stock, net of issuance costs (in shares) |  | 2,587,500 |  |  |  |
Issuance of restricted stock under the Equity Incentive Plan | 8 | $ 8 | 0 | 0 | 0 | 0
Issuance of restricted stock under the Equity Incentive Plan (in shares) |  | 81,864 |  |  |  |
Issuance of restricted stock under the Omnibus Incentive Plan | 0 | $ 0 | 0 | 0 | 0 | 0
Issuance of restricted stock under the Omnibus Incentive Plan (in shares) |  | 2,128 |  |  |  |
Forfeiture of restricted stock | (1) | $ (1) | 0 | 0 | 0 | 0
Forfeiture of restricted stock (in shares) |  | (14,860) |  |  |  |
Vesting of restricted stock | 1,986,835 | $ 0 | 1,986,835 | 0 | 0 | 0
Dividends and distributions declared for the period | (27,798,310) | 0 | 0 | (27,193,453) | 0 | (604,857)
Other comprehensive income (loss) - change in fair value of interest rate swaps | (2,583,833) | 0 | 0 | 0 | (2,531,715) | (52,118)
Net income | 18,913,009 | 0 | 0 | 18,487,992 | 0 | 425,017
Balance at Dec. 31, 2014 | 356,035,374 | $ 1,754 | 388,262,847 | (32,584,612) | (2,059,998) | 2,415,383
Balance (in shares) at Dec. 31, 2014 |  | 17,539,946 |  |  |  |
Issuance of common stock, net of issuance costs | 92,259,597 | $ 304 | 92,259,293 | 0 | 0 | 0
Issuance of common stock, net of issuance costs (in shares) |  | 3,043,812 |  |  |  |
Issuance of restricted stock under the Omnibus Incentive Plan | 9 | $ 9 | 0 | 0 | 0 | 0
Issuance of restricted stock under the Omnibus Incentive Plan (in shares) |  | 85,597 |  |  |  |
Forfeiture of restricted stock | (3) | $ (3) | 0 | 0 | 0 | 0
Forfeiture of restricted stock (in shares) |  | (32,054) |  |  |  |
Vesting of restricted stock | 1,992,240 | $ 0 | 1,992,240 | 0 | 0 | 0
Dividends and distributions declared for the period | (35,336,882) | 0 | 0 | (34,695,684) | 0 | (641,198)
Other comprehensive income (loss) - change in fair value of interest rate swaps | (1,093,251) | 0 | 0 | 0 | (1,070,378) | (22,873)
Net income | 39,762,455 | 0 | 0 | 39,017,855 | 0 | 744,600
Balance at Dec. 31, 2015 | $ 453,619,539 | $ 2,064 | $ 482,514,380 | $ (28,262,441) | $ (3,130,376) | $ 2,495,912
Balance (in shares) at Dec. 31, 2015 |  | 20,637,301 |  |  |  |

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