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Distributions (Tables)
 12 Months Ended
Dec. 31, 2017
Distributions [Abstract]  
Summary of Payment of Distributions to Shareholders

The following cash distributions, including dividends reinvested, were paid to common shareholders during the three years ended December 31, 2017, 2016 and 2015:

 

    2017     2016     2015  
Quarter Ended   Amount     Per Share     Amount     Per Share     Amount     Per Share  
                                     
March 31   $ 5,416,827     $ 0.18     $ 4,879,009     $ 0.18     $ 4,481,730     $ 0.18  
June 30     5,700,036       0.18       4,903,286       0.18       4,633,318       0.18  
September 30     6,188,961       0.18       5,031,818       0.18       4,767,312       0.18  
December 31     6,333,573       0.18       5,204,709       0.18       4,864,760       0.18  
                                                 
    $ 23,639,397     $ 0.72     $ 20,018,822     $ 0.72     $ 18,747,120     $ 0.72  
Summary of Payment of Dividends to Preferred Shareholders

The following dividends were paid to holders of our Series A Preferred Stock during the year ended December 31, 2017, 2016 and 2015:

 

Declaration Date   Record Date   Payment Date   Dividend     Dividend per Share  
                     
1/19/2017   2/15/2017   3/15/2017   $ 1,889,147     $ 0.515625  
4/3/2017   5/15/2017   6/15/2017     1,889,147       0.515625  
7/3/2017   8/15/2017   9/15/2017     1,889,147       0.515625  
                         
            $ 5,667,441     $ 1.546875  

 

1/15/2016   2/16/2016   3/15/2016   $ 1,889,147     $ 0.515625  
4/4/2016   5/16/2016   6/15/2016     1,889,147       0.515625  
7/1/2016   8/15/2016   9/15/2016     1,889,147       0.515625  
10/3/2016   11/17/2016   12/15/2016     1,889,147       0.515625  
                         
            $ 7,556,588     $ 2.0625  

 

Declaration Date   Record Date   Payment Date   Dividend     Dividend per Share  
                     
1/15/2015   2/17/2015   3/16/2015   $ 1,889,147     $ 0.515625  
4/1/2015   5/15/2015   6/16/2015     1,889,147       0.515625  
7/1/2015   8/15/2015   9/15/2015     1,889,147       0.515625  
10/1/2015   11/17/2015   12/15/2015     1,889,147       0.515625  
                         
            $ 7,556,588     $ 2.0625  

 

The following dividends were paid to holders of our Series B Preferred Stock during the year ended December 31, 2017 and 2016:

 

Declaration Date   Record Date   Payment Date   Dividend     Dividend per Share  
                     
1/19/2017   2/15/2017   3/15/2017   $ 1,900,600     $ 0.50  
4/3/2017   5/15/2017   6/15/2017     1,900,600       0.50  
7/3/2017   8/15/2017   9/15/2017     1,900,600       0.50  
10/2/2017   11/15/2017   12/15/2017     1,900,600       0.50  
                         
            $ 7,602,400     $ 2.00  
                         
1/15/2016   2/16/2016   3/15/2016   $ 1,305,257     $ 0.72466  
4/4/2016   5/16/2016   6/15/2016     1,900,600       0.50  
7/1/2016   8/15/2016   9/15/2016     1,900,600       0.50  
10/3/2016   11/17/2016   12/15/2016     1,900,600       0.50  
                         
            $ 7,007,057     $ 2.22466  

 

The following dividends were paid to holders of our Series C Preferred Stock during the year ended December 31, 2017:

 

Declaration Date   Record Date   Payment Date   Dividend     Dividend per Share  
                     
7/3/2017   8/15/2017   9/15/2017   $ 970,313     $ 0.168750  
10/2/2017   11/15/2017   12/15/2017     2,425,781       0.421875  
                         
            $ 3,396,094     $ 0.590625