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Quarterly Operating Results - Unaudited
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Operating Results - Unaudited

14. Quarterly Operating Results - Unaudited

 

 

 

Quarters Ended 2018

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Total revenue

 

$

41,735,556

 

 

$

51,553,527

 

 

$

41,418,062

 

 

$

43,465,976

 

Total operating expenses

 

 

37,041,269

 

 

 

42,275,569

 

 

 

38,298,919

 

 

 

40,451,053

 

Net operating income

 

 

4,694,287

 

 

 

9,277,958

 

 

 

3,119,143

 

 

 

3,014,923

 

Net income (loss)

 

 

1,176,488

 

 

 

2,967,589

 

 

 

(1,981,780

)

 

 

(2,770,454

)

Net income (loss) attributable to common shareholders

 

 

(238,343

)

 

 

1,352,414

 

 

 

(3,065,883

)

 

 

(3,768,166

)

Earnings (loss) per share attributable to common

   shareholders– basic and diluted

 

$

(0.02

)

 

$

0.10

 

 

$

(0.23

)

 

$

(0.28

)

Net income (loss) available to operating partnership unitholders

 

 

(268,356

)

 

 

1,522,745

 

 

 

(3,451,499

)

 

 

(4,240,961

)

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

 

$

(0.02

)

 

$

0.10

 

 

$

(0.22

)

 

$

(0.27

)

 

 

 

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

)