Shareholders' Equity

6 Months Ended

Jun. 30, 2016

Shareholders' Equity

Shareholders' Equity

Note 9.   Shareholders’ Equity

Distributions

On February 25, 2016, we paid a regular quarterly distribution to common shareholders of record on January 22, 2016 of $0.43 per share, or $30,584.On May 23, 2016, we paid a regular quarterly distribution to common shareholders of record on April 25, 2016 of $0.43 per share, or $30,585.On July 12, 2016, we declared a regular quarterly distribution payable to common shareholders of record on July 22, 2016 of $0.43 per share, or $30,590.We expect to pay this amount on or about August 22, 2016 using cash on hand and borrowings under our revolving credit facility.

Share Issuance

On May 17, 2016, we granted 2,500 of our common shares, valued at $19.52 per share, the closing price of our common shares on the New York Stock Exchange, or the NYSE, on that day, to each of our five Trustees as part of their annual compensation.

Cumulative Other Comprehensive Income (Loss)

Cumulative other comprehensive income (loss) represents the unrealized gain on the RMR Inc. shares we own and our share of the comprehensive income (loss) of Select Income REIT, or SIR, and Affiliates Insurance Company, or AIC. The following table presents changes in the amounts we recognized in cumulative other comprehensive income (loss) by component for the three and six months ended June 30, 2016:

	Three Months Ended June 30, 2016
			Unrealized Gain		Equity in
			(Loss) on Investment		Unrealized Gain
			in Available for		(Loss) of
			Sale Securities		Investees	Total
Balance at March 31, 2016		$	3,480	$	(932)	$	2,548
Other comprehensive income before reclassifications			7,237		2,602		9,839
Amounts reclassified from cumulative other comprehensive income (loss) to net income (1)			-		4		4
Net current period other comprehensive income			7,237		2,606		9,843
Balance at June 30, 2016		$	10,717	$	1,674	$	12,391

	Six Months Ended June 30, 2016
			Unrealized Gain		Equity in
			(Loss) on Investment		Unrealized Gain
			in Available for		(Loss) of
			Sale Securities		Investees	Total
Balance at December 31, 2015		$	(9,391)	$	(5,476)	$	(14,867)
Other comprehensive income before reclassifications			20,108		7,147		27,255
Amounts reclassified from cumulative other comprehensive income (loss) to net income (1)			-		3		3
Net current period other comprehensive income			20,108		7,150		27,258
Balance at June 30, 2016		$	10,717	$	1,674	$	12,391

⁽¹⁾ Amounts reclassified from cumulative other comprehensive income (loss) are included in equity in earnings (losses) of investees in our condensed consolidated statements of comprehensive income (loss).