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COMMON STOCK ACTIVITY
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
COMMON STOCK ACTIVITY
COMMON STOCK ACTIVITY

The following table presents the common stock activity for the three years ended December 31, 2019:
 
Years Ended December 31,
2019
 
2018
 
2017
Common Stock (in shares)
Shares outstanding at beginning of year
36,501,356

 
34,758,167

 
33,332,213

Common stock offerings                                                            
2,388,342

 
1,706,474

 
1,370,457

Dividend reinvestment plan                                                            
1,893

 
1,844

 
2,744

Incentive restricted stock granted                                                            
59,943

 
50,217

 
93,285

Incentive restricted stock forfeited                                                            
(3,010
)
 
—

 
(16,000
)
Director common stock awarded                                                            
6,384

 
8,478

 
8,881

Director restricted stock granted
—

 
—

 
282

Restricted stock withheld for tax obligations
(28,955
)
 
(23,824
)
 
(33,695
)
Shares outstanding at end of year                                                            
38,925,953

 
36,501,356

 
34,758,167


Common Stock Issuances
The following table presents the common stock issuance activity for the three years ended December 31, 2019:
Years Ended December 31,
 
Number of Shares of
Common Stock Issued
 
Net Proceeds
 
 
 
 
(In thousands)
2019
 
2,388,342

 
$
284,710

2018
 
1,706,474

 
157,319

2017
 
1,370,457

 
109,207




Dividend Reinvestment Plan
The Company had a dividend reinvestment plan that allowed stockholders to reinvest cash distributions in new shares of the Company. On December 12, 2019, the dividend reinvestment plan was terminated and any unsold shares pursuant to the plan were deregistered.