Common Stock Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of nonvested restricted stock activity

The following table summarizes our common stock grant activity under our 2012 Plan.

	2020			2019			2018
	Number of shares	Weighted average price(1)		Number of shares	Weighted average price(1)		Number of shares	Weighted average price(1)
Outstanding nonvested shares, beginning of year	259,698	$	58.39	307,821	$	53.44	475,768	$	52.32
Shares granted	103,473	$	67.84	87,327	$	69.83	183,952	$	52.21
Shares vested	(141,486)	$	56.94	(126,363)	$	54.45	(310,706)	$	51.05
Shares forfeited	(2,203)	$	66.48	(9,087)	$	55.71	(41,193)	$	53.06
Outstanding nonvested shares, end of each period	219,482	$	63.69	259,698	$	58.39	307,821	$	53.44

(1)  Grant date fair value.

Schedule of number of performance shares that vest based on the achievement of performance goals

The number of performance shares that vest for each of the three years is based on the achievement of the following performance goals:

	Weighting for year granted
Performance Awards Metrics	2020		2019		2018
Total shareholder return (“TSR”) ranking relative to MSCI US REIT Index	70	%	45	%	45	%
TSR ranking relative to J.P. Morgan Net Lease Peer Group	N/A		26	%	26	%
Dividend per share Growth Rate	15	%	16	%	16	%
Debt-to-Adjusted EBITDAre Ratio	N/A		13	%	13	%
Net Debt-to-Adjusted EBITDAre Ratio	15	%	N/A		N/A

Schedule of nonvested performance shares activity

The following table summarizes our performance share grant activity: 

	2020			2019			2018
	Number of performance shares	Weighted average price(1)		Number of performance shares	Weighted average price(1)		Number of performance shares	Weighted average price(1)
Outstanding nonvested shares, beginning of year	304,663	$	62.25	223,392	$	58.78	245,309	$	62.49
Shares granted	136,729	$	79.98	128,581	$	65.34	269,868	$	51.98
Shares vested	(139,012)	$	63.66	(47,310)	$	54.27	(291,785)	$	54.88
Shares forfeited	(10,621)	$	66.64	—	$	—	—	$	—
Outstanding nonvested shares, end of each period	291,759	$	69.73	304,663	$	62.25	223,392	$	58.78

(1) Grant date fair value.

Schedule of nonvested restricted stock units activity

During 2020, 2019 and 2018 we also granted restricted stock units that primarily vest over a four-year service period and have the same economic rights as shares of restricted stock: 

	2020			2019			2018
	Number of restricted stock units	Weighted average price(1)		Number of restricted stock units	Weighted average price(1)		Number of restricted stock units	Weighted average price(1)
Outstanding nonvested shares, beginning of year	15,511	$	59.82	14,968	$	54.62	24,869	$	55.97
Shares granted	9,966	$	78.79	5,482	$	69.58	8,383	$	49.96
Shares vested	(6,807)	$	58.63	(4,939)	$	54.90	(10,118)	$	55.01
Shares forfeited	—	$	—	—	$	—	(8,166)	$	53.45
Outstanding nonvested shares, end of each period	18,670	$	70.38	15,511	$	59.82	14,968	$	54.62

(1) Grant date fair value.