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Earnings Per Share
 9 Months Ended
Sep. 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 
 September 30,
 
Nine Months Ended 
 September 30,
 
2016
 
2015
 
2016
 
2015
Net Income
$
13,668,965

 
$
6,728,460

 
$
32,715,951

 
$
25,419,204

Less: Net income attributable to redeemable noncontrolling interest
(242,401
)
 
—

 
(309,172
)
 
—

Net income attributable to common shareholders
$
13,426,564

 
$
6,728,460

 
$
32,406,779

 
$
25,419,204

 
 
 
 
 
 
 
 
Weighted average number of outstanding shares - Basic
3,413,164

 
3,297,337

 
3,405,460

 
3,268,037

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

 
74,154

 
—

 
74,267

Dilutive impact of restricted stock units
6,959

 
7,709

 
4,748

 
5,892

Weighted average number of outstanding shares - Diluted
3,420,123

 
3,379,200

 
3,410,208

 
3,348,196

 
 
 
 
 
 
 
 
Earnings per share attributable to common shareholders
 
 
 
 
 
 
 
Basic
$
3.93

 
$
2.04

 
$
9.52

 
$
7.78

Diluted
$
3.93

 
$
1.99

 
$
9.50

 
$
7.59