XML 28 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 14,640,988 $ 17,531,034
Noncash Items Included in Net Income:    
Depreciation & Amortization 13,660,791 11,552,358
Stock Compensation Expense 256,770 242,651
Gain on Sale of Securities Transactions, net (1,483,245) (6,976,086)
Gain on Sale of Real Estate Investments 0 (345,794)
Changes In:    
Tenant, Deferred Rent and Other Receivables 238,223 (1,209,750)
Prepaid Expenses (927,507) (1,224,244)
Other Assets and Lease Costs (776,146) (3,290,035)
Accounts Payable, Accrued Expenses and Other Liabilities 3,258,630 917,356
NET CASH PROVIDED BY OPERATING ACTIVITIES 28,868,504 17,197,490
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of Real Estate and Intangible Assets (73,860,759) (51,807,115)
Capital and Land Site Improvements (14,825,834) (10,304,220)
Proceeds on Sale of Real Estate Investments   1,413,891
Return of Deposits on Real Estate 1,800,000 720,000
Deposits Paid on Acquisitions of Real Estate (2,500,000) (1,750,000)
Proceeds from Sale of Securities Available for Sale 11,128,031 31,357,113
Purchase of Securities Available for Sale (22,887,701) (10,706,818)
Collections on Loans Receivable 10,126 17,750
NET CASH USED IN INVESTING ACTIVITIES (101,136,137) (41,059,399)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net Proceeds from Loans Payable 3,000,000 12,000,000
Repurchase of Subordinated Convertible Debentures 0 (5,115,000)
Proceeds from Mortgage Notes Payable 48,905,000 41,650,000
Principal Payments on Mortgage Notes Payable (19,132,018) (31,977,937)
Financing Costs Paid on Debt (961,596) (115,583)
Net Distributions to Noncontrolling Interests (12,442) (60,399)
Proceeds from the Exercise of Stock Options 620,696 677,985
Proceeds from Underwritten Public Offering of Common Stock Offering, net of offering costs 65,112,686 0
Proceeds from Issuance of Common Stock in the DRIP, net of Reinvestments 26,983,425 15,585,712
Preferred Dividends Paid (6,455,274) (6,455,274)
Common Dividends Paid, net of Reinvestments (15,482,159) (13,848,090)
NET CASH PROVIDED BY FINANCING ACTIVITIES 102,578,318 12,341,414
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 30,310,685 (11,520,495)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 12,404,512 24,650,858
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 42,715,197 $ 13,130,363