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Shareholders' Equity | 9 Months Ended
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Sep. 30, 2013
Equity [Abstract] |
Shareholders' Equity | SHAREHOLDERS' EQUITY Preferred Stock The Company declared its regular quarterly dividend of $0.53125 per share on its 8.50% Series A Cumulative Redeemable Preferred Stock and $0.4765625 per share on its 7.625% Series B Cumulative Redeemable Preferred Stock for the third quarter of 2013 payable on October 15, 2013 to shareholders of record as of October 7, 2013. Common Stock The following table presents a summary of the changes in the number of common shares outstanding since December 31, 2 012:
| 2013
Balance as of January 1, 2013 | 54,268,915 |
Common stock issued under DRIP | 509,831 |
Common stock issued under ATM program | 180,986 |
Common stock issued or redeemed under stock and incentive plans | 270,158 |
Common stock forfeited for tax withholding on share-based compensation | (52,385 | )
Common stock repurchased during the period (weighted average price of $7.94 per share) | (751,456 | )
Balance as of September 30, 2013 | 54,426,049 |
The Company has approximately 7,416,520 shares of common stock that remain available to offer and sell through its sales agent, JMP Securities LLC, under its "at the market", or "ATM" program, as of September 30, 2013. The Company did not issue any common shares under this program during the three months ended September 30, 2013. The Company's Dividend Reinvestment and Share Purchase Plan ("DRIP") allows registered shareholders to automatically reinvest some or all of their quarterly dividends in shares of the Company’s stock and provides an opportunity for investors to purchase shares of the Company’s stock, potentially at a discount to the prevailing market price. Of the 3,000,000 shares reserved for issuance under the Company's DRIP, there are 2,472,324 shares remaining for issuance as of September 30, 2013. The Company declared a third quarter common stock dividend of $0.27 per share payable on October 31, 2013 to shareholders of record as of October 7, 2013. There was no discount for shares purchased through the DRIP during the third quarter of 2013. Of the $50,000 authorized by the Company's Board of Directors for the repurchase of its common stock through December 31, 2014, approximately $43,115 remains available as of September 30, 2013. Incentive Plans. Pursuant to the Company’s 2009 Stock and Incentive Plan, the Company may grant stock-based compensation to eligible employees, directors or consultants or advisers to the Company, including stock awards, stock options, SARs, dividend equivalent rights, performance shares, incentive awards, and restricted stock units. Of the 2,500,000 shares of common stock authorized for issuance under this plan, 1,550,118 shares remain available for issuance as of September 30, 2013. Total stock-based compensation expense recognized by the Company for the three and nine months ended September 30, 2013 was $612 and $1,726, respectively, compared to $490 and $1,410, respectively, for the three and nine months ended September 30, 2012. The following table presents a rollforward of the restricted stock activity for the periods indicated:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Restricted stock outstanding as of beginning of period | 526,803 |  |  | 454,117 |  |  | 448,283 |  |  | 365,506 |
Restricted stock granted | — |  |  | — |  |  | 255,158 |  |  | 220,821 |
Restricted stock vested | (2,917 | ) |  | (2,917 | ) |  | (179,555 | ) |  | (135,127 | )
Restricted stock outstanding as of end of period | 523,886 |  |  | 451,200 |  |  | 523,886 |  |  | 451,200 |
The restricted stock granted during the nine months ended September 30, 2013 and September 30, 2012 had fair values of $2,708 and $2,073, respectively, at their grant dates. As of September 30, 2013, the balance of the Company’s outstanding restricted stock remaining to be amortized into compensation expense is $3,951 of which $640 is expected to be amortized in the remaining three months of 2013, $1,643 in 2014, $1,155 in 2015, $447 in 2016, and $66 in 2017. As of September 30, 2013, the Company also has 25,000 SARs outstanding which were granted pursuant to the Company's 2004 Stock Incentive Plan and are all vested and exercisable at their exercise price of $7.06 per share any time prior to their expiration date of December 31, 2013. No new awards may be granted under this plan. As of September 30, 2013 and December 31, 2012, the fair value of the Company’s outstanding SARs of $43 and $66, respectively, are recorded as liabilities on its consolidated balance sheet for the respective periods. Additional Paid-In Capital The following table presents a rollforward of the Company's changes in additional paid-in capital since December 31, 2012:
| 2013
Balance as of January 1, 2013 | $ | 759,214 |
Common stock issuances: |
DRIP issuances | 5,401 |
ATM issuances | 1,954 |
Incentive plans | 147 |
Adjustments related to tax withholding for share-based compensation | (545 | )
Common stock repurchases | (5,956 | )
Amortization of restricted stock, net of additional grants | 1,736 |
Capitalized expenses | (89 | )
Balance as of September 30, 2013 | $ | 761,862 |
Accumulated Other Comprehensive Income Accumulated other comprehensive income as of September 30, 2013 and December 31, 2012 is comprised of the following items:
| September 30, 2013 |  | December 31, 2012
Available for sale investments: |  |  |
Unrealized gains | $ | 49,669 |  |  | $ | 104,869 |
Unrealized losses | (72,057 | ) |  | (12,623 | )
| (22,388 | ) |  | 92,246 |
Hedging instruments: |  |  |  |  |
Unrealized gains | 3,779 |  |  | — |
Unrealized losses | (15,754 | ) |  | (39,735 | )
| (11,975 | ) |  | (39,735 | )
Accumulated other comprehensive income | $ | (34,363 | ) |  | $ | 52,511 |
Due to the Company’s REIT status, the items comprising other comprehensive income do not have related tax effects.

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- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. + References No definition available. + Details
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