Equity

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Equity

EQUITY

Common Stock

Offering of Common Stock—On March 28, 2016, the Company completed an underwritten public offering of 9.78 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds of $105.8 million from the offering, after giving effect to the issuance and sale of all 9.78 million shares of common stock (which included 1.28 million shares sold to the underwriters upon exercise of their option to purchase additional shares), at a price to the public of $11.35 per share.

Dividends on Common Stock—During the first quarter of 2016, the Company's Board of Directors declared a quarterly cash dividend of $0.17 per share of common stock, payable on April 15, 2016 to stockholders of record as of March 31, 2016. During the second quarter of 2016, the Company's Board of Directors declared a quarterly cash dividend of $0.17 per share of common stock, payable on July 15, 2016 to stockholders of record as of June 30, 2016.