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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
INCOME:        
Rental Revenue $ 13,383,738 $ 11,712,134 $ 41,039,489 $ 34,759,795
Reimbursement Revenue 2,356,132 2,342,130 6,706,841 5,428,168
Lease Termination Income 1,182,890 0 1,182,890 690,730
TOTAL INCOME 16,922,760 14,054,264 48,929,220 40,878,693
EXPENSES:        
Real Estate Taxes 1,997,324 1,731,667 5,626,181 4,013,129
Operating Expenses 865,519 959,643 2,714,499 2,453,443
General & Administrative Expenses 1,505,292 1,405,833 3,954,011 3,645,241
Acquisition Costs 0 74,137 462,864 459,999
Depreciation 3,991,113 3,193,923 11,779,471 9,583,380
Amortization of Lease Costs and Intangible Assets 451,338 480,807 1,346,023 1,451,523
TOTAL EXPENSES 8,810,586 7,846,010 25,883,049 21,606,715
OTHER INCOME (EXPENSE):        
Interest and Dividend Income 941,924 844,001 2,877,486 2,972,026
Gain on Sale of Securities Transactions, net 907,171 1,062,614 1,483,245 6,976,086
Interest Expense (4,170,104) (3,764,949) (12,230,617) (11,483,255)
Amortization of Financing Costs (197,617) (164,476) (535,297) (497,361)
TOTAL OTHER INCOME (EXPENSE) (2,518,626) (2,022,810) (8,405,183) (2,032,504)
INCOME FROM CONTINUING OPERATIONS 5,593,548 4,185,444 14,640,988 17,239,474
(LOSS) INCOME FROM DISCONTINUED OPERATIONS 0 (4,898) 0 291,560
NET INCOME 5,593,548 4,180,546 14,640,988 17,531,034
Less: Preferred Dividend 2,151,758 2,151,758 6,455,274 6,455,274
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 3,441,790 $ 2,028,788 $ 8,185,714 $ 11,075,760
BASIC INCOME - PER SHARE        
Income from Continuing Operations $ 0.11 $ 0.10 $ 0.31 $ 0.41
Income from Discontinued Operations $ 0.00 $ 0.00 $ 0.00 $ 0.01
Net Income $ 0.11 $ 0.10 $ 0.31 $ 0.42
Less: Preferred Dividend $ (0.04) $ (0.05) $ (0.14) $ (0.15)
Net Income Attributable to Common Shareholders - Basic $ 0.07 $ 0.05 $ 0.17 $ 0.27
DILUTED INCOME - PER SHARE        
Income from Continuing Operations $ 0.11 $ 0.10 $ 0.31 $ 0.41
Income from Discontinued Operations $ 0.00 $ 0.00 $ 0.00 $ 0.01
Net Income $ 0.11 $ 0.10 $ 0.31 $ 0.42
Less: Preferred Dividend $ (0.04) $ (0.05) $ (0.14) $ (0.16)
Net Income Attributable to Common Shareholders - Diluted $ 0.07 $ 0.05 $ 0.17 $ 0.26
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic 50,659,518 42,638,000 47,541,797 41,767,240
Diluted 50,760,023 42,822,813 47,634,310 41,958,863