EQUITY (Notes)

6 Months Ended

Jun. 30, 2022

Class of Stock [Line Items]

Stockholders' Equity Note Disclosure [Text Block]

At-the-Market Equity Program - In February 2020, we initiated an at-the-market equity program by entering into an equity distribution agreement under which we may issue and sell shares of our common stock with an aggregate offering price up to $250 million (including any shares of common stock that may be sold pursuant to the master forward sale confirmation entered into in connection with the equity distribution agreement and the related supplemental confirmations). Sales of common stock are made by means of ordinary brokers’ transactions on the NYSE, in block transactions or as otherwise agreed to between us and the sales agent. We are under no obligation to offer and sell common stock under the program. For the six months ended June 30, 2022 and 2021, respectively, we issued and sold 403,792 shares and 198,438 shares of our common stock for $35.0 million and $15.3 million, generating proceeds, net of issuance costs, of $34.7 million and $15.1 million.

For the six months ended June 30, 2022, we executed forward sale agreements for 591,736 shares of our common stock, which must be settled on or before January 2, 2024. No shares of common stock have been settled under the forward sale agreements. Had we settled all shares under the forward agreements as of June 30, 2022, we would have generated net proceeds of $48.3 million, or $81.54 per share.

At June 30, 2022, we had $131.3 million of equity available for issuance under the program.

Dividends Declared - In July 2022, we declared a dividend of $0.62 per share ($2.48 per share on an annualized basis) for shareholders of record as of August 15, 2022, payable on September 1, 2022.