Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Stock-based Compensation

Schedule of non-vested restricted common shares

	Common Shares		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2014	319,654		$	12.60
Granted	129,277		16.18
Vested	(74,884	)	13.47
Non-vested at June 30, 2015	374,047		$	13.66

Schedule of weighted average grant date fair value assumptions

The Trust utilized a Monte Carlo simulation to calculate the weighted average grant date fair value of $20.06 per unit for the March 2015 grant using the following assumptions:

Volatility	20.7	%
Dividend assumption	reinvested
Expected term in years	2.8
Risk-free rate	1.14	%
Share price (per share)	15.87

Summary of the activity in the restricted share units

	Restricted  Share Units	Weighted Average Grant Date Fair Value
Non-vested at December 31, 2014	55,680	$	16.94
Granted	116,206	19.22
Non-vested at June 30, 2015	171,886	$	18.48