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Earnings Per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The Company’s Common Shares outstanding consist of all shares issued and outstanding, including unvested restricted shares. Basic and diluted EPS are calculated under the two-class method. Pursuant to the two-class method, the Company’s unvested Restricted Stock grants with nonforfeitable rights to dividends are considered participating securities. Dividends are paid on all Common Shares outstanding at the same rate. Accordingly, the Company has evaluated the impact of earnings per share of all participating securities under the two-class method, noting no impact on earnings per share. Restricted stock awards with forfeitable rights to dividends and restricted stock units are considered dilutive. The following table sets forth the computation for basic and diluted EPS and reconciliation between basic and diluted shares outstanding:
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2016
 
2015
 
2016
 
2015
Net Income
$
9,767,107

 
$
9,178,122

 
$
19,046,986

 
$
18,690,744

Less: Net income attributable to redeemable noncontrolling interest
(52,555
)
 
—

 
(66,771
)
 
—

Net income attributable to common shareholders
$
9,714,552

 
$
9,178,122

 
$
18,980,215

 
$
18,690,744

 
 
 
 
 
 
 
 
Weighted average number of outstanding shares - Basic
3,410,751

 
3,287,751

 
3,399,740

 
3,253,144

Dilutive impact of restricted stock awards with forfeitable rights to dividends
—

 
73,485

 
—

 
73,715

Dilutive impact of restricted stock units
4,441

 
6,044

 
3,458

 
4,662

Weighted average number of outstanding shares - Diluted
3,415,192

 
3,367,280

 
3,403,198

 
3,331,521

 
 
 
 
 
 
 
 
Earnings per share attributable to common shareholders
 
 
 
 
 
 
 
Basic
$
2.85

 
$
2.79

 
$
5.58

 
$
5.75

Diluted
$
2.84

 
$
2.73

 
$
5.58

 
$
5.61