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Quarterly Operating Results - Unaudited (Tables)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Operating Results

 

 

 

Quarters Ended 2017

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Total revenue

 

$

38,694,886

 

 

$

40,642,632

 

 

$

36,769,471

 

 

$

38,159,704

 

Total operating expenses

 

 

32,989,182

 

 

 

35,178,717

 

 

 

34,595,193

 

 

 

35,339,712

 

Net operating income

 

 

5,705,704

 

 

 

5,463,915

 

 

 

2,174,278

 

 

 

2,819,992

 

Net income (loss)

 

 

2,886,032

 

 

 

1,135,719

 

 

 

(936,000

)

 

 

(3,056,262

)

Net income (loss) attributable to common shareholders

 

 

1,851,090

 

 

 

296,850

 

 

 

(1,550,555

)

 

 

(3,936,522

)

Earnings (loss) per share attributable to common

   shareholders– basic and diluted

 

$

0.13

 

 

$

0.02

 

 

$

(0.11

)

 

$

(0.29

)

Net income (loss) available to operating partnership unitholders

 

 

2,100,958

 

 

 

310,795

 

 

 

(1,741,000

)

 

 

(4,422,903

)

Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted

 

$

0.13

 

 

$

0.02

 

 

$

(0.11

)

 

$

(0.27

)

 

 

 

Quarters Ended 2016

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Total revenue

 

$

37,810,144

 

 

$

41,824,954

 

 

$

37,275,312

 

 

$

35,935,342

 

Total operating expenses

 

 

33,025,990

 

 

 

34,645,809

 

 

 

33,539,913

 

 

 

33,026,914

 

Net operating income

 

 

4,784,154

 

 

 

7,179,145

 

 

 

3,735,399

 

 

 

2,908,428

 

Net income(loss)

 

 

545,874

 

 

 

1,977,550

 

 

 

(1,549,191

)

 

 

(74,084

)

Net income (loss) attributable to common shareholders

 

 

483,095

 

 

 

1,761,106

 

 

 

(1,716,234

)

 

 

(746,140

)

Earnings (loss) per share attributable to common shareholders– basic and diluted

 

$

0.03

 

 

$

0.12

 

 

$

(0.11

)

 

$

(0.05

)

Net income (loss) available to operating partnership unitholders

 

 

545,874

 

 

 

1,977,550

 

 

 

(1,889,080

)

 

 

(879,084

)

Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted

 

$

0.03

 

 

$

0.12

 

 

$

(0.11

)

 

$

(0.05

)