XML 47 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Shareholders' Equity (Details Narrative) - USD ($)
3 Months Ended 9 Months Ended
Sep. 15, 2017
Aug. 31, 2017
Aug. 15, 2017
Aug. 02, 2017
Jul. 26, 2017
Jun. 05, 2017
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Proceeds from issuance of offering                 $ 22,527,507 $ 0  
Proceed from dividend reinvestment and stock purchase plan (DRIP)                 2,181,064 1,738,947  
Preferred stock redemption charge             $ 0   0   $ 91,595,000
Preferred stock dividends             $ 4,938,937 $ 3,789,747 12,518,431 10,313,685  
Net proceeds from issuance of shares                 $ 138,983,808 $ 49,120,853  
Common stock shares authorized             113,663,800   113,663,800   75,000,000
Excess stock, shares authorized             3,000,000   3,000,000   3,000,000
DRIP [Member]                      
New shares issued under DRIP, value                 $ 48,746,736    
New shares issued under DRIP                 3,293,638    
Common Stock [Member]                      
Proceed from dividend reinvestment and stock purchase plan (DRIP)                 $ 2,181,064    
Common Stock [Member] | Maryland State Department of Assessments and Taxation [Member]                      
Excess stock, shares authorized             85,000,000   85,000,000    
8.25% Series A Cumulative Redeemable Preferred Stock [Member]                      
Dividends paid   $ 1,889,147                  
Dividend declared per share, paid   $ 0.515625             $ 1.546875    
Dividend paid date   Sep. 15, 2017                  
Record date of dividend   Aug. 15, 2017                  
Cumulative redeemable preferred stock, authorized   3,663,800                  
Cumulative redeemable preferred stock percentage   8.25%                  
Preferred Stock, Liquidation Preference Per Share   $ 25.00                  
Preferred stock, redemption price per share   $ 25.00                  
Preferred stock redemption charge   $ 91,595,000                  
Preferred stock dividends                 $ 5,667,441    
8.25% Series A Cumulative Redeemable Preferred Stock [Member] | Board of Directors [Member]                      
Preferred stock redemption charge   $ 3,502,000                  
8.0% Series B Cumulative Redeemable Preferred Stock [Member]                      
Dividends paid $ 1,900,600               $ 5,701,800    
Dividend declared per share, paid $ 0.50                    
Annual rate on dividend per share payable quarterly $ 2.00                    
Record date of dividend Aug. 15, 2017                    
Cumulative redeemable preferred stock percentage 8.00%                    
Preferred Stock, Liquidation Preference Per Share $ 25.00                    
6.75% Series C Cumulative Redeemable Preferred Stock [Member]                      
Number of stock sold during period         5,000,000            
Proceeds from issuance of offering         $ 120,800,000            
Dividends paid         $ 970,312            
Dividend declared per share, paid         $ 0.16875            
Annual rate on dividend per share payable quarterly         $ 1.6875            
Dividend paid date         Sep. 15, 2017            
Record date of dividend         Aug. 31, 2017            
Preferred Stock, Liquidation Preference Per Share         $ 25.00            
Preferred stock, redemption price per share         $ 25.00            
Cumulative redeemable preferred stock, shares issued         5,000,000            
Exercised overallotment option and purchased additional shares       750,000              
Net proceeds from issuance of shares       $ 18,200,000              
Description of preferred stock dividend         Annual rate of $1.6875 per share and will be payable quarterly in arrears on March 15, June 15, September 15, and December 15.            
Series A Cumulative Redeemable Preferred Stock [Member]                      
Cumulative redeemable preferred stock, authorized             3,663,800   3,663,800    
Cumulative redeemable preferred stock, shares issued             0   0   3,663,800
Preferred stock, shares outstanding   3,663,800         0   0   3,663,800
Preferred stock par value             $ 0.10   $ 0.10   $ 0.10
Increase in authorized number of shares                 113,663,800    
Series C Preferred Stock [Member]                      
Preferred stock, redemption price per share             25.00   $ 25.00    
Preferred stock par value             $ 0.10   $ 0.10    
Common stock shares authorized             110,000,000   110,000,000    
Series C Preferred Stock [Member] | Maryland State Department of Assessments and Taxation [Member]                      
Increase in authorized number of shares                 30,750,000    
Excess stock, shares authorized             95,663,800   95,663,800    
Series C Preferred Stock [Member] | Maryland State Department of Assessments and Taxation [Member] | Maximum [Member]                      
Increase in authorized number of shares                 126,413,800    
Series A Preferred Shares [Member]                      
Cumulative redeemable preferred stock, authorized             3,663,800   3,663,800    
Series A Preferred Shares [Member] | Maximum [Member]                      
Common stock shares authorized             115,750,000   115,750,000    
Series B Preferred Shares [Member]                      
Cumulative redeemable preferred stock, authorized             4,000,000   4,000,000    
Excess stock, shares authorized             3,000,000   3,000,000    
Series B Preferred Shares [Member] | Maximum [Member]                      
Cumulative redeemable preferred stock, authorized             4,000,000   4,000,000    
Excess stock, shares authorized             3,000,000   3,000,000    
Series C Preferred Shares [Member]                      
Cumulative redeemable preferred stock, authorized             5,750,000   5,750,000    
Excess stock, shares authorized             3,000,000   3,000,000    
Series B Preferred Shares One [Member]                      
Cumulative redeemable preferred stock, authorized             4,000,000   4,000,000    
October 2, 2017 [Member] | 8.0% Series B Cumulative Redeemable Preferred Stock [Member]                      
Dividend declared per share, paid                 $ 0.50    
Dividend paid date                 Dec. 15, 2017    
Record date of dividend                 Nov. 15, 2017    
October 2, 2017 [Member] | Series C Preferred Stock [Member]                      
Dividend declared per share, paid                 $ 0.421875    
Dividend paid date                 Dec. 15, 2017    
Record date of dividend                 Nov. 15, 2017    
Common Stock [Member]                      
Number of stock sold during period           1,400,000          
Sale of stock price per share           $ 16.60          
Proceeds from issuance of offering           $ 22,500,000          
Common Stock [Member] | October 2, 2017 [Member]                      
Annual rate on dividend per share payable quarterly             $ 0.18   $ 0.18    
Dividend paid date                 Dec. 15, 2017    
Record date of dividend                 Nov. 15, 2017    
Common Stock [Member] | Common Shareholders [Member]                      
Dividends paid $ 6,188,961               $ 17,305,824    
Dividend declared per share, paid $ 0.18                    
Proceed from dividend reinvestment and stock purchase plan (DRIP)     $ 794,744           $ 2,181,064