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Consolidated Statements of Income - USD ($)
12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2014
INCOME:      
Rental Revenue $ 81,592,429 $ 67,059,385 $ 55,512,165
Reimbursement Revenue 13,323,681 10,716,112 9,160,176
Lease Termination Income 0 238,625 1,182,890
TOTAL INCOME 94,916,110 78,014,122 65,855,231
EXPENSES:      
Real Estate Taxes 10,455,401 8,362,135 7,605,611
Operating Expenses 4,273,899 4,127,884 3,711,868
General & Administrative Expenses 7,936,124 6,305,928 5,709,937
Acquisition Costs 730,441 1,546,088 481,880
Depreciation 24,055,022 19,705,320 15,908,769
Amortization of Capitalized Lease Costs and Intangible Assets 2,032,658 2,067,408 1,810,812
TOTAL EXPENSES 49,483,545 42,114,763 35,228,877
OTHER INCOME (EXPENSE):      
Dividend and Interest Income 5,616,392 3,723,867 3,882,597
Gain on Sale of Securities Transactions, net 4,398,599 805,513 2,166,766
Interest Expense (21,836,811) (18,558,150) (16,104,678)
Amortization of Financing Costs (1,116,238) (1,286,016) (725,745)
TOTAL OTHER INCOME (EXPENSE) (12,938,058) (15,314,786) (10,781,060)
INCOME FROM CONTINUING OPERATIONS 32,494,507 20,584,573 19,845,294
Gain on Sale of Real Estate Investment 0 5,021,242 0
NET INCOME 32,494,507 25,605,815 19,845,294
Less: Preferred Dividends 9,020,470 8,607,032 8,607,032
Less: Redemption of Preferred Stock 2,942,149 0 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 20,531,888 $ 16,998,783 $ 11,238,262
BASIC INCOME - PER SHARE      
Net Income $ 0.5 $ 0.43 $ 0.4
Less: Preferred Dividends (0.14) (0.14) (0.17)
Less: Redemption of Preferred Stock (0.05) 0 0
Net Income Attributable to Common Shareholders - Basic 0.31 0.29 0.23
DILUTED INCOME - PER SHARE      
Net Income 0.5 0.43 0.4
Less: Preferred Dividends (0.14) (0.14) (0.17)
Less: Redemption of Preferred Stock (0.05) 0 0
Net Income Attributable to Common Shareholders - Diluted $ 0.31 $ 0.29 $ 0.23
WEIGHTED AVERAGE SHARES OUTSTANDING      
Basic 65,468,564 59,085,888 49,829,924
Diluted 65,558,284 59,201,296 49,925,036