Securities Available for Sale (Tables)

12 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Schedule of Gain (loss) On Securities Transactions, Net

The Company received proceeds of $22,774,768, $16,201,480 and $14,279,391 on sales or redemptions of securities available for sale during fiscal years 2016, 2015 and 2014, respectively. The Company recorded the following realized Gain on Sale of Securities Transactions, net:

	2016			2015			2014
Gross realized gains	$	4,403,724		$	880,424		$	2,222,424
Gross realized losses		(5,125	)		(74,911	)		(55,658	)
Gains on Sale of Securities Transactions, net	$	4,398,599		$	805,513		$	2,166,766

Summary of Investments in Debt and Equity Securities

The following is a listing of investments in securities at September 30, 2016:

			Interest Rate/			Number of				Estimated Market
Description	Series		Dividend			Shares		Cost		Value
Equity Securities - Preferred Stock:
CBL & Associates Properties, Inc.		D		7.375	%		30,000	$	745,840	$	750,300
Cedar Realty Trust, Inc.		B		7.25	%		30,600		718,317		786,417
Chesapeake Lodging Trust		A		7.75	%		20,000		500,000		518,050
Dynex Capital, Inc.		A		8.50	%		10,000		250,000		252,850
Investors Real Estate Trust		B		7.95	%		20,000		500,000		516,000
iStar Financial, Inc.		D		8.00	%		3,468		71,502		84,688
iStar Financial, Inc.		E		7.875	%		3,400		54,116		83,300
iStar Financial, Inc.		F		8.00	%		20,000		429,846		487,400
iStar Financial, Inc.		I		7.50	%		41,383		872,236		1,005,607
Pennsylvania Real Estate Investment Trust		A		8.25	%		44,000		1,100,885		1,128,380
Summit Hotel Properties, Inc.		B		7.875	%		10,000		250,000		263,081
UMH Properties, Inc. (1)		A		8.25	%		200,000		5,000,000		5,138,000
UMH Properties, Inc. (1)		B		8.00	%		100,000		2,500,000		2,755,000
Total Equity Securities - Preferred Stock								$	12,992,742	$	13,769,073

			Number of				Estimated Market
Description			Shares		Cost		Value
Equity Securities - Common Stock:
Gladstone Commercial Corporation				65,000	$	1,102,608	$	1,210,950
Government Properties Income Trust				700,000		12,585,316		15,834,000
Select Income REIT				586,500		13,112,908		15,776,850
Senior Housing Property Trust				670,000		11,558,116		15,215,700
UMH Properties, Inc. (1)				989,326		9,305,685		11,792,771
Total Equity Securities - Common Stock					$	47,664,633	$	59,830,271
	Interest Rate/			Number of				Estimated Market
	Dividend			Shares		Cost		Value
Modified Pass-Through Mortgage-Backed Securities:
Government National Mortgage Association (GNMA)	6.50	%		500,000	$	5,252	$	5,550
Total Securities Available for Sale					$	60,662,627	$	73,604,894

(1) Investment is in a related company. See Note No. 11 for further discussion.

The following is a listing of investments in securities at September 30, 2015:

			Interest Rate/			Number of				Estimated Market
Description	Series		Dividend			Shares		Cost		Value
Equity Securities - Preferred Stock:
Campus Crest Communities, Inc.		A		8.00	%		10,000	$	250,000	$	243,300
CBL & Associates Properties, Inc.		D		7.375	%		30,000		745,840		750,900
Cedar Realty Trust, Inc.		B		7.25	%		30,600		718,317		727,975
Chesapeake Lodging Trust		A		7.75	%		20,000		500,000		520,000
Condor Hospitality		A		8.00	%		17,000		170,005		108,800
Corporate Office Properties Trust		L		7.375	%		26,688		658,957		680,544
Dynex Capital, Inc.		A		8.50	%		10,000		250,000		241,000
EPR Properties		F		6.625	%		15,000		352,908		369,750
General Growth Properties, Inc.		A		6.375	%		4,636		107,852		112,469
Grace Acquisitions I		B		8.75	%		29,000		3,480		696,000
Investors Real Estate Trust		B		7.95	%		20,000		500,000		515,200
iStar Financial, Inc.		D		8.00	%		3,468		71,502		83,406
iStar Financial, Inc.		E		7.875	%		3,400		54,116		80,410
iStar Financial, Inc.		F		8.00	%		20,000		429,846		470,200
iStar Financial, Inc.		I		7.50	%		41,383		872,236		953,464
Kilroy Realty Corporation		H		6.375	%		23,016		547,953		575,142
Pennsylvania Real Estate Investment Trust		A		8.25	%		44,000		1,100,885		1,150,600
Pennsylvania Real Estate Investment Trust		B		7.375	%		30,455		760,911		772,034
Summit Hotel Properties, Inc.		B		7.875	%		10,000		250,000		260,000
Sun Communities, Inc.		A		7.125	%		20,000		500,000		514,800
UMH Properties, Inc. (1)		A		8.25	%		200,000		5,000,000		5,136,000
Total Equity Securities - Preferred Stock								$	13,844,808	$	14,961,994

			Number of				Estimated Market
Description			Shares		Cost		Value
Equity Securities - Common Stock:
Getty Realty Corporation				50,000	$	997,632	$	790,000
Gladstone Commercial Corporation				65,000		1,102,608		917,150
Government Properties Income Trust				579,000		11,572,547		9,264,000
Mack-Cali Realty Corporation				130,000		3,039,545		2,454,400
Select Income REIT				586,500		13,247,860		11,149,365
Senior Housing Property Trust				402,300		7,643,503		6,517,260
UMH Properties, Inc. (1)				911,871		8,528,097		8,480,399
Total Equity Securities - Common Stock					$	46,131,792	$	39,572,574
	Interest Rate/			Number of				Estimated Market
	Dividend			Shares		Cost		Value
Modified Pass-Through Mortgage-Backed Securities:
Government National Mortgage Association (GNMA)	6.50	%		500,000	$	6,240	$	6,669
Total Securities Available for Sale					$	59,982,840	$	54,541,237

(1) Investment is in a related company. See Note No. 11 for further discussion.