COMMON STOCK ACTIVITY

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

COMMON STOCK ACTIVITY

COMMON STOCK ACTIVITY

The following table presents the common stock activity for the three years ended December 31, 2015:

	Years Ended December 31,
	2015		2014		2013
	Common Shares
Shares outstanding at beginning of year	32,232,587		30,937,225		29,928,490
Common stock offerings	106,751		1,246,400		890,085
Stock options exercised	—		—		4,500
Dividend reinvestment plan	4,536		3,626		3,577
Incentive restricted stock granted	100,622		71,642		112,099
Incentive restricted stock forfeited	—		(2,375	)	—
Director common stock awarded	9,373		7,742		7,469
Director restricted stock granted	—		—		417
Restricted stock withheld for tax obligations	(32,409	)	(31,673	)	(9,412	)
Shares outstanding at end of year	32,421,460		32,232,587		30,937,225

Common Stock Issuances

The following table presents the common stock issuance activity for the three years ended December 31, 2015:

Years Ended December 31,	Number of Common Shares Issued	Net Proceeds
		(In thousands)
2015	106,751	$	6,233
2014	1,246,400	78,868
2013	890,085	53,247

Dividend Reinvestment Plan

The Company has a dividend reinvestment plan that allows stockholders to reinvest cash distributions in new shares of the Company.