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Equity (Tables) | 9 Months Ended
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Sep. 30, 2014
Equity |
Schedule of equity | Equity activity was as follows (in thousands):
|  | Total Equity
Balance at December 31, 2013 |  | $ 632,438
Net income |  | 52,399
Vesting of Stock option and restricted common stock |  | 2,326
Stock option exercise |  | 277
Reclassification adjustment |  | (27)
Preferred stock dividends |  | (2,454)
Common stock dividends |  | (53,275)
Other |  | (7)
Balance at September 30, 2014 |  | $ 631,677
Schedule of cash dividends declared and paid | Distributions. We declared and paid the following cash dividends (in thousands):
|  | Nine months ended September 30, 2014 |  | Nine months ended September 30, 2013 |
|  | Declared |  | Paid |  | Declared |  | Paid |
Preferred Stock Series C |  | $ 2,454 |  | $ 2,454 |  | $ 2,454 |  | $ 2,454 |
Common Stock(1) |  | 53,275 |  | 53,275 |  | 45,909 |  | 45,909 |
Total |  | $ 55,729 |  | $ 55,729 |  | $ 48,363 |  | $ 48,363 |
| (1) |  | Represents $0.17 per share per month and $0.155 per share per month for the nine months ended September 30, 2014 and 2013, respectively.
Schedule of restricted stock granted | During the nine months ended September 30, 2014 and 2013, we granted 87,500 and 34,400 shares of restricted common stock, respectively, as follows:
Year |  | No. of Shares |  | Price per Share |  | Vesting Period
2014: |  |  |  |  |  |  |
|  | 59,000 |  |  | $36.81 |  | ratably over 3 years
|  | 3,000 |  |  | $38.43 |  | ratably over 3 years
|  | 15,000 |  |  | $40.05 |  | ratably over 3 years
|  | 10,500 |  |  | $40.05 |  | June 9, 2015
|  | 87,500 |  |  |  |  |
2013: |  |  |  |  |  |  |
|  | 8,400 |  |  | $46.54 |  | ratably over 3 years
|  | 6,000 |  |  | $41.83 |  | ratably over 3 years
|  | 20,000 |  |  | $36.26 |  | June 1, 2016
|  | 34,400 |  |  |  |  |

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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 + Details
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