Common Shares Of Beneficial Interest

12 Months Ended

Dec. 31, 2017

Class of Stock Disclosures [Abstract]

Common Shares of Beneficial Interest

We had an at-the-market ("ATM") equity offering program, which terminated on September 29, 2017, under which we could sell up to $250 million of common shares, in amounts and at times as we determined, at prices determined by the market at the time of sale. No common shares remain available for sale under this program.

No shares were sold under the ATM equity offering program during the year ended December 31, 2017. The following shares were sold under the ATM equity offering programs during the year ended December 31, 2016 (in thousands, except per share amounts):



	Year Ended December 31, 2016
Shares sold	3,465
Weighted average price per share	$	38.35
Gross proceeds	$	132,884

We have a $200 million share repurchase plan. Under this plan, we may repurchase common shares from time-to-time in open-market or in privately negotiated purchases. The timing and amount of any shares repurchased will be determined by management based on its evaluation of market conditions and other factors. The repurchase plan may be suspended or discontinued at any time, and we have no obligations to repurchase any amount of our common shares under the plan. As of the date of this filing, we have not repurchased any shares under this plan.

Common dividends declared per share were $2.29, $1.46 and $1.38 for the year ended December 31, 2017, 2016 and 2015, respectively. The regular dividend rate per share for our common shares for each quarter of 2017 and 2016 was $.385 and $.365, respectively. Also in December 2017, we paid a special dividend for our common shares in the amount of $.75 per share, which was due to the significant gains on dispositions of property. Subsequent to December 31, 2017, our Board of Trust Managers approved a first quarter dividend of $.395 per common share, an increase from $.385 per common share for the respective quarter of 2017.