Shareholders' Equity

9 Months Ended

Sep. 30, 2018

Stockholders' Equity Note [Abstract]

The following table provides a summary of dividends declared and paid per share:



	Nine Months Ended September 30,
	2018				2017
	Declared		Paid		Declared		Paid
Common shares	$	3.020	$	3.000	$	2.960	$	2.940
5.417% Series 1 Cumulative Convertible Preferred shares	$	1.016	$	1.016	$	1.016	$	1.016
5.0% Series C Cumulative Redeemable Preferred shares (1)	$	0.938	$	0.993	$	—	$	—


(1)	Amount represents dividends per depository share, each representing 1/1000th of a share.

On May 7, 2018, we replaced our existing at-the-market (“ATM”) equity program with a new ATM program in which we may from time to time offer and sell common shares having an aggregate offering price of up to $400.0 million. We intend to use the net proceeds to fund potential acquisition opportunities, fund our development and redevelopment pipeline, repay amounts outstanding under our revolving credit facility and/or for general corporate purposes. For the three months ended September 30, 2018, we sold 413,395 common shares at a weighted average price per share of $129.01 for net cash proceeds of $52.8 million and paid $0.5 million in commissions and less than $0.1 million in additional offering expenses related to the sales of these common shares. For the nine months ended September 30, 2018, we sold 612,658 common shares at a weighted average price per share of $127.86 for net cash proceeds of $77.4 million and paid $0.8 million in commissions and $0.2 million in additional offering expenses related to the sales of these common shares. As of September 30, 2018, we had the capacity to issue up to $321.7 million in common shares under our ATM equity program.