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Equity (Tables)

9 Months Ended

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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+ 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

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