EQUITY (Notes)

9 Months Ended

Sep. 30, 2022

Class of Stock [Line Items]

Stockholders' Equity Note Disclosure [Text Block]

EQUITY

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 nine months ended September 30, 2022 and 2021, we issued and sold 403,792 shares and 281,124 shares of our common stock for $35.0 million and $21.4 million, generating proceeds, net of issuance costs, of $34.7 million and $21.1 million, respectively.

For the nine months ended September 30, 2022, we executed forward sale agreements for shares of our common stock. No shares of common stock have been settled under these forward sale agreements. Had we settled all shares under the forward agreements as of September 30, 2022, we would have generated net proceeds of $93.9 million, as detailed below:

Maturity	Shares Available	Net Proceeds Available (in thousands)		Forward Price
September 29, 2023	570,335	$	45,890	$	80.46
January 2, 2024	591,736	48,052		81.21
Total	1,162,071	$	93,942	$	80.84

At September 30, 2022, we had $85.1 million of equity available for issuance under the program.

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