EX-12.1 4 v398479_ex12-1.htm EXHIBIT 12.1

 

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

 

 

   Nine Months   Year   Year   Year   Year   Year 
   Ended   Ended   Ended   Ended   Ended   Ended 
   September 30,
2014
   December 31,
2013
   December 31,
2012
   December 31,
2011
   December 31,
2010
   December 31,
2009
 
Income From Continuing Operations   13,053,686    18,944,922    14,239,560   $13,736,137   $4,761,768   $10,018,746 
Add:                              
Interest on indebtedness   5,328,216    5,739,303    4,552,930    3,678,884    3,215,554    3,042,652 
Amortization of financing costs   779,860    735,424    581,353    277,934    245,444    267,210 
                               
Earnings  $19,161,762   $25,419,649   $19,373,843   $17,692,955   $8,222,766   $13,328,608 
Fixed charges and preferred stock dividends:                              
Interest on indebtedness and capitalized interest  $5,549,626   $6,306,096   $4,701,984   $3,678,884   $3,534,789   $3,263,434 
Amortization of financing costs   779,860    735,424    581,353    277,934    245,444    267,210 
Fixed charges   6,329,486    7,041,520    5,283,337    3,956,818    3,780,233    3,530,644 
Add:                              
Preferred stock dividends   -    -    -    -    -    - 
Combined fixed charges and preferred stock dividends  $6,329,486   $7,041,520   $5,283,337   $3,956,818   $3,780,233   $3,530,644 
Ratio of earnings to fixed charges   3.03x   3.61x   3.67x   4.47x   2.18x   3.78x