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Stockholder Equity and Noncontrolling Interests

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Stockholder Equity and Noncontrolling Interests

NOTE 6: Shareholder Equity and Noncontrolling Interests

Stockholder Equity

Common Shares

Our board of directors has declared the following dividends:

Month		Declaration Date		Record Date		Payment Date		Dividend Declared Per Share
January 2016		January 14, 2016		January 29, 2016		February 16, 2016		$	0.06
February 2016		January 14, 2016		February 29, 2016		March 15, 2016		$	0.06
March 2016		January 14, 2016		March 31, 2016		April 15, 2016		$	0.06
April 2016		April 14, 2016		April 29, 2016		May 16, 2016		$	0.06
May 2016		April 14, 2016		May 31, 2016		June 15, 2016		$	0.06
June 2016		April 14, 2016		June 30, 2016		July 15, 2016		$	0.06
July 2016		July 14, 2016		July 29, 2016		August 15, 2016		$	0.06
August 2016		July 14, 2016		August 31, 2016		September 15, 2016		$	0.06
September 2016		July 14, 2016		September 30, 2016		October 17, 2016		$	0.06
October 2016		October 12, 2016		October 31, 2016		November 15, 2016		$	0.06
November 2016		October 12, 2016		November 30, 2016		December 15, 2016		$	0.06
December 2016		October 12, 2016		December 30, 2016		January 17, 2017		$	0.06

During the three and nine months ended September 30, 2016, we also paid $0 and $42, respectively, of dividends on restricted common share awards that vested during the period.

On September 27, 2016 we announced a public offering of our common stock, which was completed on October 5, 2016. See Note 11: Subsequent Events for information regarding events that occurred in October of 2016 involving our equity including the completion of a public offering of our common stock and the repurchase of certain shares of our common stock.

Noncontrolling Interest

On February 1, 2016, holders of IROP units exchanged 204,115 units for 204,113 shares of our common stock with fractional units being settled in cash. On August 1, 2016, holders of IROP units exchanged 35,808 units for 35,808 shares of our common stock. As of September 30, 2016, 2,915,008 IROP units held by unaffiliated third parties remain outstanding with a redemption value of $26,235, based on IRT’s stock price as of September 30, 2016.

Our board of directors has declared the following distributions on IROP’s LP units:

Month		Declaration Date		Record Date		Payment Date		Dividend Declared Per Share
January 2016		January 14, 2016		January 29, 2016		February 16, 2016		$	0.06
February 2016		January 14, 2016		February 29, 2016		March 15, 2016		$	0.06
March 2016		January 14, 2016		March 31, 2016		April 15, 2016		$	0.06
April 2016		April 14, 2016		April 29, 2016		May 16, 2016		$	0.06
May 2016		April 14, 2016		May 31, 2016		June 15, 2016		$	0.06
June 2016		April 14, 2016		June 30, 2016		July 15, 2016		$	0.06
July 2016		July 14, 2016		July 29, 2016		August 15, 2016		$	0.06
August 2016		July 14, 2016		August 31, 2016		September 15, 2016		$	0.06
September 2016		July 14, 2016		September 30, 2016		October 17, 2016		$	0.06
October 2016		October 12, 2016		October 31, 2016		November 15, 2016		$	0.06
November 2016		October 12, 2016		November 30, 2016		December 15, 2016		$	0.06
December 2016		October 12, 2016		December 30, 2016		January 17, 2017		$	0.06

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The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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