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Equity
 6 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]  
Equity Equity
Preferred Stock

The following table summarizes the Company’s outstanding preferred stock issuances as of June 30, 2020.

Preferred Stock IssuancesIssuance DateNumber of SharesLiquidation Value Per ShareInterest Rate
6.875% Series C Cumulative Redeemable Preferred Stock ("Series C Preferred Stock")March 17, 20163,000,000  $25.00  6.875 %

The following tables summarize the dividends attributable to the Company’s outstanding preferred stock issuances during the six months ended June 30, 2020 and the year ended December 31, 2019.
Quarter Ended 2020Declaration DateSeries C
Preferred Stock Per Share		Payment Date
June 30April 9, 2020$0.4296875  June 30, 2020
March 31January 8, 20200.4296875  March 31, 2020
Total $0.8593750   

Quarter Ended 2019Declaration DateSeries C
Preferred Stock Per Share		Payment Date
December 31October 15, 2019$0.4296875  December 31, 2019
September 30July 15, 20190.4296875  September 30, 2019
June 30April 9, 20190.4296875  July 1, 2019
March 31January 10, 20190.4296875  April 1, 2019
Total $1.7187500   

On July 9, 2020, the Company’s board of directors declared the Series C Preferred Stock dividends for the quarter ending September 30, 2020 at a quarterly rate of $0.4296875 per share.

Common Stock

The following table summarizes the terms of the Company’s at-the market (“ATM”) common stock offering program as of June 30, 2020.
ATM Common Stock Offering ProgramDateMaximum Aggregate Offering Price (in thousands)Aggregate Common Stock Available as of June 30, 2020 (in thousands)
2019 $600 million ATMFebruary 14, 2019$600,000  $318,248  

The table below summarizes the activity under the ATM common stock offering program during the year ended December 31, 2019 (in thousands, except share data). There was no activity under the ATM common stock offering program during the six months ended June 30, 2020.
 Year ended December 31, 2019
ATM Common Stock Offering ProgramShares
Sold		Weighted Average Price Per ShareNet
Proceeds
2019 $600 million ATM9,711,706  $29.01  $279,156  
Total/weighted average9,711,706  $29.01  $279,156  

On January 13, 2020, the Company completed an underwritten public offering of an aggregate 10,062,500 shares of common stock at a price to the underwriters of $30.9022 per share, consisting of (i) 5,600,000 shares offered directly by the Company and (ii) 4,462,500 shares offered by the forward dealer in connection with certain forward sale agreements (including 1,312,500 shares offered pursuant to the underwriters’ option to purchase additional shares, which option was exercised in full). The offering closed on January 16, 2020 and the Company received net proceeds from the sale of shares offered directly by the Company of approximately $173.1 million. Subject to the Company’s right to elect cash or net share settlement, the Company has the ability to settle the forward sales agreements at any time through scheduled maturity date of the forward sale agreements of January 13, 2021.
The following tables summarize the dividends attributable to the Company’s outstanding shares of common stock that were declared during the six months ended June 30, 2020 and the year ended December 31, 2019.

Month Ended 2020Declaration DateRecord DatePer SharePayment Date
June 30April 9, 2020June 30, 2020$0.12  July 15, 2020
May 31April 9, 2020May 29, 20200.12  June 15, 2020
April 30April 9, 2020April 30, 20200.12  May 15, 2020
March 31January 8, 2020March 31, 20200.12  April 15, 2020
February 29January 8, 2020February 28, 20200.12  March 16, 2020
January 31January 8, 2020January 31, 20200.12  February 18, 2020
Total $0.72   

Month Ended 2019Declaration DateRecord DatePer SharePayment Date
December 31October 15, 2019December 31, 2019$0.119167  January 15, 2020
November 30October 15, 2019November 29, 20190.119167  December 16, 2019
October 31October 15, 2019October 31, 20190.119167  November 15, 2019
September 30July 15, 2019September 30, 20190.119167  October 15, 2019
August 31July 15, 2019August 30, 20190.119167  September 16, 2019
July 31July 15, 2019July 31, 20190.119167  August 15, 2019
June 30April 9, 2019June 28, 20190.119167  July 15, 2019
May 31April 9, 2019May 31, 20190.119167  June 17, 2019
April 30April 9, 2019April 30, 20190.119167  May 15, 2019
March 31January 10, 2019March 29, 20190.119167  April 15, 2019
February 28January 10, 2019February 28, 20190.119167  March 15, 2019
January 31January 10, 2019January 31, 20190.119167  February 15, 2019
Total $1.430004   

On July 9, 2020, the Company’s board of directors declared the common stock dividends for the months ending July 31, 2020, August 31, 2020, and September 30, 2020 at a monthly rate of $0.12 per share of common stock.

Restricted Shares of Common Stock

Restricted shares of common stock granted on February 13, 2020 and January 8, 2020 to certain employees of the Company, subject to the recipient’s continued employment, will vest in four equal installments on January 1 of each year beginning in 2021. Refer to Note 8 for a discussion of the restricted shares of common stock granted on January 8, 2020 pursuant to the January 6, 2017 performance units. The following table summarizes activity related to the Company’s unvested restricted shares of common stock for the six months ended June 30, 2020 and the year ended December 31, 2019.

Unvested Restricted Shares of Common StockShares    
Balance at December 31, 2018190,462   
Granted110,830  (1)
Vested(101,109) (2)
Forfeited(7,138)  
Balance at December 31, 2019193,045   
Granted75,419  (1)
Vested(78,010) (2)
Forfeited(858)  
Balance at June 30, 2020189,596  
(1)The fair value per share on the grant date of February 13, 2020, January 8, 2020, and January 7, 2019 was $32.64, $31.49, and $24.85, respectively.
(2)The Company repurchased and retired 33,119 and 28,504 restricted shares of common stock that vested during the six months ended June 30, 2020 and the year ended December 31, 2019, respectively.

The weighted average grant date fair value of unvested restricted shares of common stock was $24.38 per share at January 1, 2020, $31.60 per share granted during the six months ended June 30, 2020, $23.11 per share vested during the six months ended June 30, 2020, $24.85 per share forfeited during the six months ended June 30, 2020, and $27.77 per share at June 30, 2020.

The unrecognized compensation expense associated with the Company’s restricted shares of common stock at June 30, 2020 was approximately $4.2 million and is expected to be recognized over a weighted average period of approximately 2.7 years.
The following table summarizes the fair value at vesting for the restricted shares of common stock that vested during the three and six months ended June 30, 2020 and 2019.
 Three months ended June 30,Six months ended June 30,
Vested Restricted Shares of Common Stock2020201920202019
Vested restricted shares of common stock—  —  78,010  78,431  
Fair value of vested restricted shares of common stock (in thousands)$—  $—  $2,463  $1,951