Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Federal Income Taxes [Abstract]

Reconciliation of U.S. GAAP net income to taxable income

	2013 Estimate (unaudited)			2012 Actual			2011 Actual
U.S. GAAP net income	$	5,836,823		$	6,474,057		$	3,696,263
Add:  U.S. GAAP net loss of taxable REIT subsidiary included above		2,746,526			3,081,837			3,135,742
U.S. GAAP net income from REIT operations		8,583,349			9,555,894			6,832,005
Stock compensation expense		850,349			573,244			295,042
Acquisition costs and other book / tax        differences, net		1,641,635			(344,027	)		(1,418,553	)
Taxable income before adjustments		11,075,333			9,785,111			5,708,494
Less:  Capital gains		(3,460,000	)		(4,146,773	)		(1,750,781	)
Adjusted taxable income subject to 90% dividend requirement	$	7,615,333		$	5,638,338		$	3,957,713

Reconciliation between cash dividends paid and dividends paid deduction

	2013 Estimate (unaudited)			2012 Actual			2011 Actual
Cash dividends paid	$	21,120,059		$	16,798,495		$	11,921,695
Less:  Portion designated as capital gains distributions		(3,460,000	)		(4,146,773	)		(1,750,781	)
Less: Return of capital		(10,044,726	)		(7,013,384	)		(6,213,201	)
Dividends paid deduction	$	7,615,333		$	5,638,338		$	3,957,713

Characterization of distributions paid per share

	2013					2012					2011
	Amount		Percent			Amount		Percent			Amount		Percent
Ordinary income	$	0.12844		17.84	%	$	0.07892		10.96	%	$	0.29090		40.40	%
Capital gains		0.05835		8.10	%		0.08391		11.65	%		0.08205		11.40	%
Return of capital		0.53321		74.06	%		0.55717		77.39	%		0.34705		48.20	%
	$	0.72		100	%	$	0.72		100	%	$	0.72		100	%