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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - 6 months ended Jun. 30, 2015 - USD ($)
Preferred Stock
Common Stock
Additional Paid-in Capital
Treasury Stock
Accumulated Deficit
Private REIT preferred stock
Accumulated Deficit
Accumulated Other Comprehensive Loss
Private REIT preferred stock
Total
Balance at Dec. 31, 2014 $ 89,295,905 $ 531,280 $ 629,880,774 $ (17,100,916)   $ (152,483,322) $ (14,668,250)   $ 535,455,471
Balance (in shares) at Dec. 31, 2014 3,711,500 53,128,075   (2,650,767)          
Increase (Decrease) in Stockholders' Equity                  
Stock-based compensation   $ 4,861 2,422,407           2,427,268
Stock-based compensation (in shares)   486,124              
Forfeiture of unvested restricted stock   $ (9) 9            
Forfeiture of unvested restricted stock (in shares)   (916)              
Distributions - common stock           (14,206,565)     (14,206,565)
Distributions - preferred stock         $ (6,952) (3,776,860)   $ (6,952) (3,776,860)
Net income           29,285,969     29,285,969
Unrealized gain on securities available-for-sale             423,341   423,341
Unrealized loss on derivative financial instruments, net             (906,727)   (906,727)
Reclassification of net realized loss on derivatives designated as cash flow hedges into loss on termination of swaps             4,285,995   4,285,995
Reclassification of net realized loss on derivatives designated as cash flow hedges into earnings             3,241,500   3,241,500
Balance at Jun. 30, 2015 $ 89,295,905 $ 536,132 $ 632,303,190 $ (17,100,916)   $ (141,187,730) $ (7,624,141)   $ 556,222,440
Balance (in shares) at Jun. 30, 2015 3,711,500 53,613,283   (2,650,767)