SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	December 31,
	2015			2014			2013
Numerator:
Net income	$	41,978,523		$	39,058,219		$	32,038,091
Less: Income allocated to participating securities		(384,246	)		(368,668	)		(325,182	)
Net income available to common stockholders	$	41,594,277		$	38,689,551		$	31,712,909
Denominator:
Weighted average shares - basic		65,554,655			65,223,549			64,888,978
Performance-based restricted stock awards		85,027			54,209			65,388
Weighted average shares - diluted		65,639,682			65,277,758			64,954,366
Basic net income per share:
Net income	$	0.63		$	0.59		$	0.49
Diluted net income per share:
Net income	$	0.63		$	0.59		$	0.49