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INCOME TAXES (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
INCOME TAXES |  |  |  |  |  |  |  |  |  |  |
Period of disqualification of REIT status |  |  |  |  |  |  |  |  | 4 years |  |
Reconciliation between Financial Statement Net Income and Federal Taxable Income: |  |  |  |  |  |  |  |  |  |  |
Net income | $ 5,191 | $ 3,788 | $ 3,682 | $ 7,856 | $ 11,583 | $ 2,620 | $ 4,640 | $ 3,273 | $ 20,517 | $ 22,116 | $ 17,875
Straight line rent adjustments |  |  |  |  |  |  |  |  | (971) | (1,480) | (1,025)
Book gain on sale - (in excess of) less than tax gain |  |  |  |  |  |  |  |  | (530) | 10,522 | 1,391
Rent received in advance, net |  |  |  |  |  |  |  |  | (73) | (180) | 691
Adjustments for above/below market leases |  |  |  |  |  |  |  |  | (581) | (253) | (144)
Non-deductible portion of restricted stock expense |  |  |  |  |  |  |  |  | 613 | (149) | 357
Federal excise tax, non-deductible |  |  |  |  |  |  |  |  | 174 | 302 | 45
Book depreciation in excess of tax depreciation |  |  |  |  |  |  |  |  | 4,219 | 2,970 | 1,686
Property acquisition costs - capitalized for tax purposes |  |  |  |  |  |  |  |  | 798 | 417 | 850
Impairment loss |  |  |  |  |  |  |  |  |  | 1,093 | 62
Other adjustments |  |  |  |  |  |  |  |  | (317) | 26 | (111)
Federal taxable income |  |  |  |  |  |  |  |  | 23,849 | 35,384 | 21,677
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction: |  |  |  |  |  |  |  |  |  |  |
Dividends paid |  |  |  |  |  |  |  |  | 26,179 | 24,117 | 21,999
Dividend reinvestment plan |  |  |  |  |  |  |  |  | 228 | 197 | 230
Dividends before adjustment for previous and current year |  |  |  |  |  |  |  |  | 26,407 | 24,314 | 22,229
Less: Spillover dividends designated to previous year |  |  |  |  |  |  |  |  | (18,177) | (7,107) | (7,659)
Plus: Dividends designated from following year |  |  |  |  |  |  |  |  | 15,619 | 18,177 | 7,107
Dividends paid deduction |  |  |  |  |  |  |  |  | $ 23,849 | $ 35,384 | $ 21,677
Maximum |  |  |  |  |  |  |  |  |  |  |
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction: |  |  |  |  |  |  |  |  |  |  |
Percentage of discount on common stock purchased through the dividend reinvestment plan |  |  |  |  |  |  |  |  | 5.00% |  |

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