Common Stock Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2016

Restricted Stock

Summary of common stock grant activity under the 2012 Plan

	2016				2015				2014
			Weighted				Weighted				Weighted
	Number of shares		average price(1)		Number of shares		average price(1)		Number of shares		average price(1)
Outstanding nonvested shares, beginning of year	456,282		$	30.46	527,176		$	29.02	722,263		$	23.37
Shares granted	260,171		$	54.14	161,949		$	50.87	262,655		$	39.87
Shares vested	(200,066	)	$	43.26	(205,248	)	$	37.70	(440,348	)	$	36.88
Shares forfeited	(2,864	)	$	48.15	(27,595	)	$	45.58	(17,394	)	$	39.07
Outstanding nonvested shares, end of each period	513,523		$	48.33	456,282		$	30.46	527,176		$	29.02
(1) Grant date fair value.

Performance Shares

Summary of common stock grant activity under the 2012 Plan

	2016				2015			2014
	Number of		Weighted		Number of	Weighted		Number of	Weighted
	performance		average		performance	average		performance	average
	shares		price(1)		shares	price(1)		shares	price(1)
Outstanding nonvested shares, beginning of year	115,121		$	46.94	59,405	$	41.46	-	$	-
Shares granted	58,575		$	55.07	55,716	$	52.78	71,705	$	41.46
Shares vested	(10,454	)	$	44.54	-	$	-	(4,067)	$	41.46
Shares forfeited	(3,491	)	$	52.55	-	$	-	(8,233)	$	41.46
Outstanding nonvested shares, end of each period	159,751		$	49.95	115,121	$	46.94	59,405	$	41.46
(1) Grant date fair value.

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

2016 & 2015 Performance Awards
Metrics	Weighting
Total shareholder return (“TSR”) relative to MSCI US REIT Index	50%
TSR relative to NAREIT Freestanding Index	20%
Dividend per share growth rate	20%
Debt-to-EBITDA ratio	10%
2014 Performance Awards
Metrics	Weighting
TSR relative to MSCI US REIT Index	60%
TSR relative to NAREIT Freestanding Index	20%
Debt-to-EBITDA ratio	20%

Restricted Stock Units

Summary of common stock grant activity under the 2012 Plan

	2016				2015
	Number of		Weighted		Number of	Weighted
	restricted stock		average		restricted stock	average
	units		price(1)		units	price(1)
Outstanding nonvested shares, beginning of year	10,136		$	52.21	-	$	-
Shares granted	14,783		$	52.76	10,136	$	52.21
Shares vested	(6,459	)	$	52.21	-	$	-
Shares forfeited	-		$	-	-	$	-
Outstanding nonvested shares, end of each period	18,460		$	52.65	10,136	$	52.21
(1) Grant date fair value.