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Income Per Share and Per Unit | 9 Months Ended
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Sep. 30, 2015
Earnings Per Share [Abstract] |
Income Per Share and Per Unit | 14. Income Per Share and Per Unit Income per Share. The limited partners’ outstanding limited partnership units in the Operating Partnership (which may be redeemed for common stock upon notice from the limited partners and following our election to redeem the units for stock rather than cash) have been excluded from the diluted earnings per share calculation as there would be no effect on the amounts since the limited partners’ share of income would also be added back to net income. The computation of basic and diluted earnings per share is presented below.
|  | Three Months Ended |  |  | Three Months Ended |  |  | Nine Months Ended |  |  | Nine Months Ended |
|  | September 30, 2015 |  |  | September 30, 2014 |  |  | September 30, 2015 |  |  | September 30, 2014 |
|  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to the Company for basic computation |  | $ | 3,872,394 |  |  | $ | (214,902 | ) |  | $ | 5,878,836 |  |  | $ | 2,734,789 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding for basic computation |  |  | 14,247,671 |  |  |  | 10,353,988 |  |  |  | 11,884,110 |  |  |  | 10,311,595 |
Basic and diluted net income (loss) per share |  | $ | 0.27 |  |  | $ | (0.02 | ) |  | $ | 0.49 |  |  | $ | 0.27 |
Income Per Unit – The computation of basic and diluted earnings per unit is presented below.
|  | Three Months Ended |  |  | Three Months Ended |  |  | Nine Months Ended |  |  | Nine Months Ended |
|  | September 30, 2015 |  |  | September 30, 2014 |  |  | September 30, 2015 |  |  | September 30, 2014 |
|  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 4,636,644 |  |  | $ | (280,014 | ) |  | $ | 7,109,609 |  |  | $ | 3,474,854 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of units outstanding |  |  | 16,615,889 |  |  |  | 13,108,115 |  |  |  | 14,328,893 |  |  |  | 13,101,986 |
Basic and diluted net income (loss) per unit |  | $ | 0.28 |  |  | $ | (0.02 | ) |  | $ | 0.50 |  |  | $ | 0.27 |

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