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Common Stock Incentive Plan (Tables)

9 Months Ended

Sep. 30, 2015

Restricted Stock

Summary of common stock grant activity under the 2012 Plan

		For the nine months ended					For the year ended
		September 30, 2015					December 31, 2014
		Number of		Weighted			Number of		Weighted
		shares		average price(1)			shares		average price(1)
Outstanding nonvested shares, beginning of year		527,176		$	29.02		722,263		$	23.37
Shares granted		154,385		$	50.88		262,655		$	39.87
Shares vested		(165,199	)	$	36.71		(440,348	)	$	36.88
Shares forfeited		(24,738	)	$	44.86		(17,394	)	$	39.07

Outstanding nonvested shares, end of each period		491,624		$	32.07		527,176		$	29.02


(1) Grant date fair value.

Performance shares

Summary of common stock grant activity under the 2012 Plan

		September 30, 2015					December 31, 2014
		Number of		Weighted			Number of		Weighted
		performance		average			performance		average
		shares		price(1)			shares		price(1)
Outstanding nonvested shares, beginning of year		59,405		$	41.46		-		$	-
Shares granted		55,716		$	52.78		71,705		$	41.46
Shares vested		-		$	-		(4,067	)	$	41.46
Shares forfeited		-		$	-		(8,233	)	$	41.46


Outstanding nonvested shares, end of each period		115,121		$	46.94		59,405		$	41.46

(1) Grant date fair value.

Schedule of number of performance shares that vest based on the achievement of performance goals

2015 Performance Awards
Metrics		Weighting
Total shareholder return (“TSR”) relative to MSCI US REIT Index		50%
TSR relative to NAREIT Freestanding Index		20%
Dividend per share growth rate		20%
Debt-to-EBITDA ratio		10%

2014 Performance Awards
Metrics		Weighting

TSR relative to MSCI US REIT Index		60%
TSR relative to NAREIT Freestanding Index		20%
Debt-to-EBITDA ratio		20%