Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2021

Reconciliation of Common Stock Outstanding

The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the six months ended June 30, 2021 and the year ended December 31, 2020:


	SIX MONTHS ENDED	TWELVE MONTHS ENDED
	JUNE 30, 2021	DECEMBER 31, 2020
Balance, beginning of period	139,487,375	134,706,154
Issuance of common stock	5,890,468	4,637,445
Nonvested share-based awards, net of withheld shares	151,729	143,776
Balance, end of period	145,529,572	139,487,375

At-the-market activity

The following table details the Company's at-the-market activity, including forward transactions:


	WEIGHTED AVERAGE SALE PRICE per share		SHARES PRICED	SHARES SETTLED	SHARES REMAINING TO BE SETTLED	NET PROCEEDS in millions
Balance at December 31, 2020	$	—	—	—	1,823,259	$	—
1Q 2021	$	30.09	215,532	2,038,791	—	$	62.7
2Q 2021	$	30.99	5,835,400	3,827,971	2,007,429	$	116.1
July 2021	$	31.06	1,670,186	—	3,677,615	$	—

Earnings (loss) per share

The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2021 and 2020.


	THREE MONTHS ENDED JUNE 30,				SIX MONTHS ENDED JUNE 30,
Dollars in thousands, except per share data	2021		2020		2021		2020
Weighted average common shares outstanding
Weighted average common shares outstanding	143,700,491		135,367,081		142,142,577		135,062,708
Non-vested shares	(1,783,278)		(1,733,435)		(1,788,410)		(1,727,762)
Weighted average common shares outstanding - basic	141,917,213		133,633,646		140,354,167		133,334,946

Weighted average common shares outstanding - basic	141,917,213		133,633,646		140,354,167		133,334,946
Dilutive effect of forward equity shares	61,064		—		27,896		2,149
Dilutive effect of employee stock purchase plan	70,711		62,266		85,714		83,217
Weighted average common shares outstanding - diluted	142,048,988		133,695,912		140,467,777		133,420,312

Net Income	$	23,096	$	75,513	$	47,118	$	79,828
Dividends paid on nonvested share-based awards	(539)		(521)		(1,080)		(1,039)
Net income applicable to common stockholders	$	22,557	$	74,992	$	46,038	$	78,789





Basic earnings per common share - net income	$	0.16	$	0.56	$	0.33	$	0.59


Diluted earnings per common share - net income	$	0.16	$	0.56	$	0.33	$	0.59

Summary of the activity under the incentive plan

A summary of the activity under the Company's share-based incentive plans for the three and six months ended June 30, 2021 and 2020 is included in the table below.


	THREE MONTHS ENDED JUNE 30,		SIX MONTHS ENDED JUNE 30,
	2021	2020	2021	2020
Share-based awards, beginning of period	1,786,371	1,724,761	1,766,061	1,754,066
Granted	37,978	39,493	203,701	78,837
Vested	(46,041)	(24,996)	(191,454)	(93,645)

Share-based awards, end of period	1,778,308	1,739,258	1,778,308	1,739,258

Summary of employee stock purchase plan activity

A summary of the activity under the Purchase Plan for the three and six months ended June 30, 2021 and 2020 is included in the table below.


	THREE MONTHS ENDED JUNE 30,		SIX MONTHS ENDED JUNE 30,
	2021	2020	2021	2020
Outstanding and exercisable, beginning of period	415,299	370,696	341,647	332,659
Granted	—	—	253,200	212,716
Exercised	(3,012)	(2,463)	(18,977)	(14,367)
Forfeited	(22,873)	(6,514)	(42,034)	(29,495)
Expired	—	—	(144,422)	(139,794)
Outstanding and exercisable, end of period	389,414	361,719	389,414	361,719