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Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2020
Equity Incentive Plan  
Schedule of restricted share activity

    

Shares

    

Weighted Average

Outstanding

Grant Date

(in thousands)

Fair Value

Unvested restricted stock at December 31, 2017

 

227

$

39.47

Restricted stock granted

 

57

$

48.85

Restricted stock vested

 

(71)

$

36.06

Restricted stock forfeited

 

(1)

$

48.28

Unvested restricted stock at December 31, 2018

 

212

$

42.74

Restricted stock granted

 

54

$

65.85

Restricted stock vested

 

(70)

$

39.55

Restricted stock forfeited

 

(2)

$

54.08

Unvested restricted stock at December 31, 2019

 

194

$

50.71

Restricted stock granted

 

52

$

78.43

Restricted stock vested

(68)

$

45.78

Restricted stock forfeited

 

(3)

$

63.80

Unvested restricted stock at December 31, 2020

 

175

$

60.53

Schedule of valuation assumptions used

Year Ended December 31, 

2020

2019

2018

Expected term (years)

2.9

2.9

2.9

Volatility

18.4

%

19.7

%

19.1

%

Dividend yield

2.9

%

3.4

%

4.4

%

Risk-free rate

1.3

%

2.5

%

2.4

%

Schedule of performance share and unit activity

    

Target Number

    

Weighted Average

of Awards

Grant Date

(in thousands)

Fair Value

Performance shares at December 31, 2017

 

$

Performance shares granted

31

$

55.29

Performance shares at December 31, 2018

 

31

$

55.29

Performance shares granted

30

$

66.96

Performance units and shares at December 31, 2019

 

61

$

61.04

Performance units granted

 

26

$

90.17

Performance units and shares at December 31, 2020

87

$

69.61