XML 77 R62.htm IDEA: XBRL DOCUMENT v3.7.0.1
INCOME TAXES (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
INCOME TAXES                      
Period of disqualification of REIT status                 4 years    
Reconciliation between Financial Statement Net Income and Federal Taxable Income:                      
Net income $ 4,395 $ 4,299 $ 12,441 $ 3,287 $ 5,191 $ 3,788 $ 3,682 $ 7,856 $ 24,422 $ 20,517 $ 22,116
Straight-line rent adjustments                 (2,261) (996) (1,480)
Book gain on sale - (in excess of) less than tax gain                 (2,281) (663) 10,522
Rent received in advance, net                 584 (42) (180)
Adjustments for above/below market leases                 (643) (564) (253)
Non-deductible portion of restricted stock expense                 1,193 614 (149)
Federal excise tax, non-deductible                 6 174 302
Book depreciation in excess of tax depreciation                 4,248 3,799 2,970
Property acquisition costs - capitalized for tax purposes                 605 793 417
Impairment loss                     1,093
Other adjustments                 (312) (193) 26
Federal taxable income                 25,561 23,439 35,384
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction:                      
Dividends paid                 29,135 26,179 24,117
Dividend reinvestment plan                 181 228 197
Dividends before adjustment for previous and current year                 29,316 26,407 24,314
Less: Spillover dividends designated to previous year                 (15,209) (18,177) (7,107)
Plus: Dividends designated from following year                 11,454 15,209 18,177
Dividends paid deduction                 $ 25,561 $ 23,439 $ 35,384
Maximum                      
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction:                      
Percentage of discount on common stock purchased through the dividend reinvestment plan                 5.00%