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Equity (Tables)

3 Months Ended

Mar. 31, 2016

Equity

Schedule of equity

Equity activity was as follows (in thousands):

		Total
		Equity
Balance at December 31, 2015		$	659,202
Net income			19,858
Proceeds from common stock offering, net of  fees and costs			14,327
Vesting of stock option and restricted common stock			990
Reclassification adjustment			(28)
Common stock dividends			(20,347)
Other			(1,312)
Balance at March 31, 2016		$	672,690

Schedule of cash dividends declared and paid

We declared and paid the following cash dividends (in thousands):

		Three Months Ended
		March 31, 2016						March 31, 2015
		Declared			Paid			Declared			Paid
Preferred Stock Series C		$	—		$	—		$	818		$	818
Common Stock			20,347	(1)		20,347	(1)		18,116	(2)		18,116	(2)
Total		$	20,347		$	20,347		$	18,934		$	18,934

⁽¹⁾ Represents $0.18 per share per month for the three months ended March 31, 2016.

⁽²⁾ Represents $0.17 per share per month for the three months ended March 31, 2015.

Schedule of restricted stock granted

				Price per
Year		No. of Shares		Share			Vesting Period
2016		65,300		$	43.24		ratably over 3 years
2015		65,750		$	44.45		ratably over 3 years

Restricted stock

Equity

Schedule of unrecognized compensation

		Number		Remaining
		of		Compensation
Vesting Date		Awards		Expense
2016		44,480		$	2,519,000
2017		77,663			2,335,000
2018		49,352			1,127,000
2019		21,771			78,000
		193,266		$	6,059,000

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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