Dividends Declared and Paid

The Company declared regular common share dividends of $1.32 per share and distributions on LTIP units of $1.32 per unit for the year ended December 31, 2017. The dividends and distributions and their tax characterization were as follows:



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Taxable Ordinary Income		Unrecap. Sec. 1250 Gain
January	1/31/2017	2/24/2017	0.11		0.11		0.1042		$	0.0058
February	2/28/2017	3/31/2017	0.11		0.11		0.1042		0.0058
March	3/31/2017	4/28/2017	0.11		0.11		0.1042		0.0058
1st Quarter 2017			$	0.33	$	0.33	$	0.3126	$	0.0174

April	4/28/2017	5/26/2017	$	0.11	$	0.11	$	0.1042	$	0.0058
May	5/26/2017	6/30/2017	0.11		0.11		0.1042		0.0058
June	6/30/2017	7/28/2017	0.11		$	0.11	0.1042		$	0.0058
2nd Quarter 2017			$	0.33	$	0.33	$	0.3126	$	0.0174

July	7/31/2017	8/25/2017	$	0.11	$	0.11	$	0.1042	$	0.0058
August	8/31/2017	9/29/2017	0.11		0.11		0.1042		0.0058
September	9/29/2017	10/27/2017	$	0.11	0.11		$	0.1042	0.0058
3rd Quarter 2017			$	0.33	$	0.33	$	0.3126	$	0.0174

October	10/31/2017	11/24/2017	$	0.11	$	0.11	$	0.1042	$	0.0058
November	11/30/2017	12/29/2017	0.11		0.11		0.1042		0.0058
December	12/29/2017	1/26/2018	$	0.11	$	0.11	$	0.1042	0.0058
4th Quarter 2017			$	0.33	$	0.33	$	0.3126	$	0.0174

Total 2017			$	1.32	$	1.32	$	1.2504	$	0.0696



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Taxable Ordinary Income		Return of Capital
Special	1/15/2016	1/29/2016	$	0.08	$	0.08	$	0.072	$	0.008
January	1/29/2016	2/26/2016	$	0.10	$	0.10	$	0.090	$	0.010
February	2/29/2016	3/25/2016	0.10		0.10		0.090		0.010
March	3/31/2016	4/29/2016	0.11		0.11		0.099		0.011
1st Quarter 2016			$	0.39	$	0.39	$	0.351	$	0.039

April	4/29/2016	5/27/2016	$	0.11	$	0.11	$	0.099	$	0.011
May	5/31/2016	6/24/2016	0.11		0.11		0.099		0.011
June	6/30/2016	7/29/2016	0.11		$	0.11	0.099		0.011
2nd Quarter 2016			$	0.33	$	0.33	$	0.297	$	0.033

July	7/29/2016	8/26/2016	$	0.11	$	0.11	$	0.099	$	0.011
August	8/31/2016	9/30/2016	0.11		0.11		0.099		0.011
September	9/30/2016	10/28/2016	$	0.11	0.11		$	0.099	$	0.011
3rd Quarter 2016			$	0.33	$	0.33	$	0.297	$	0.033

October	10/31/2016	11/25/2016	$	0.11	$	0.11	$	0.099	$	0.011
November	11/30/2016	12/30/2016	0.11		0.11		0.099		0.011
December	12/30/2016	1/27/2017	$	0.11	$	0.11	$	0.099	$	0.011
4th Quarter 2016			$	0.33	$	0.33	$	0.297	$	0.033

Total 2016			$	1.38	$	1.38	$	1.242	$	0.138

For the year ended December 31, 2017, approximately 94.7% of the distributions paid to stockholders were considered ordinary income and approximately 5.3% were considered section 1250 unrecaptured gain. For the year ended December 31, 2016, approximately 90.0% of the distributions paid to stockholders were considered ordinary income and approximately 10.0% were considered returns of capital for federal income tax purposes. A special dividend payment of $0.08 per share was authorized by the Company's Board of Trustees and declared by the Company on December 31, 2015. This special dividend was paid on January 29, 2016 to shareholders of record on January 15, 2016 and is taxable to shareholders in 2016.