Common Stock and Other Equity Related Transactions

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Common Stock and Other Equity Related Transactions

Common Stock and Other Equity Related Transactions

Series C Preferred Stock Redemption and Distribution Activity

The following quarterly distributions have been declared on our depositary shares (each representing 1/100 of a share of our Series C Preferred Stock) and paid to our preferred stockholders for the nine months endedSeptember 30, 2017. On September 25, 2017, we redeemed our 6.75% Series C Preferred Stock for $138.4 million, including accrued dividends. The shares of Series C Preferred Stock that were redeemed now have the status of authorized but unissued preferred stock, without designation as to class or series.

Distribution Amount Per Share		For the Quarter Ended	Stockholder Record Date	Payment Date
$	0.421875	March 31, 2017	March 10, 2017	March 31, 2017
$	0.421875	June 30, 2017	June 15, 2017	June 30, 2017
$	0.421875	September 30, 2017	September 15, 2017	September 25, 2017

Common Stockholder Distribution Activity

The following quarterly distributions have been declared and paid to common stockholders and common OP Unit non-controlling holders for the nine months endedSeptember 30, 2017.

Distribution Amount Per Share		For the Quarter Ended	Stockholder Record Date	Payment Date
$	0.4875	March 31, 2017	March 31, 2017	April 14, 2017
$	0.4875	June 30, 2017	June 30, 2017	July 14, 2017
$	0.4875	September 30, 2017	September 29, 2017	October 13, 2017

On May 4, 2015, we extended our at-the-market (“ATM”) offering program by entering into new separate equity distribution agreements with certain sales agents, pursuant to which we may sell, from time-to-time, shares of our Common Stock, par value $0.01 per share, having an aggregate offering price of up to $125.0 million. The following table presents the shares that were issued under the ATM equity offering program during the nine months ended September 30, 2017 and nine months ended September 30, 2016 (amounts in thousands, except stock data):

	Nine Months Ended
	September 30, 2017		September 30, 2016
Shares of Common Stock sold	484,913		683,548
Weighted average price	$	86.69	$	73.15
Total gross proceeds	$	42,037	$	50,000
Commissions paid to sales agents	$	526	$	657

As of September 30, 2017, approximately $33.0 million of Common Stock remained available for issuance under the ATM equity offering program.

Conversions

Subject to certain limitations, holders of Common Operating Partnership units ("OP units") can request an exchange of any or all of their OP units for shares of Common Stock at any time. Upon receipt of such a request, we may, in lieu of issuing shares of Common Stock, cause the Operating Partnership to pay cash. During the nine months endedSeptember 30, 2017, 1,335,247 OP units were exchanged for an equal number of shares of Common Stock.