Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2020

Reconciliation of Changes in Parent Company's Total Shareholders' Equity

The following is a reconciliation of the changes in the Parent Company’s total shareholders’ equity for the nine months ended September 30, 2020:

(dollars in thousands)	Common Stock		Additional Paid-in Capital			Dividends in Excess of Net Income			Accumulated Other Comprehensive Income (Loss)			Total Shareholders’ Equity
Balance December 31, 2019	$	467	$	2,376,723		$	(238,338	)	$	(5,958	)	$	2,132,894
Net proceeds from issuance of common stock		2		21,464			—			—			21,466
Earned portion of non-vested stock		—		1,124			—			—			1,124
Adjustment to redemption value on noncontrolling redeemable Operating Partnership units		—		—			5,542			—			5,542
Net income attributable to common shareholders		—		—			36,433			—			36,433
Amortization of terminated hedge included in AOCL		—		—			—			229			229
Dividends		—		—			(49,969	)		—			(49,969	)
Balance March 31, 2020		469		2,399,311			(246,332	)		(5,729	)		2,147,719
Earned portion of non-vested stock		—		1,071			—			—			1,071
Adjustment to redemption value on noncontrolling redeemable Operating Partnership units		—		—			(2,609	)		—			(2,609	)
Net income attributable to common shareholders		—		—			36,457			—			36,457
Amortization of terminated hedge included in AOCL		—		—			—			229			229
Dividends		—		—			(50,186	)		—			(50,186	)
Balance June 30, 2020		469		2,400,382			(262,670	)		(5,500	)		2,132,681
Net proceeds from issuance of common stock		13		134,213			—			—			134,226
Earned portion of non-vested stock		—		1,107			—			—			1,107
Adjustment to redemption value on noncontrolling redeemable Operating Partnership units		—		—			(2,948	)		—			(2,948	)
Purchases of equity in consolidated subsidiary from noncontrolling interests		—		(2,300	)		—			—			(2,300	)
Net income attributable to common shareholders		—		—			37,095			—			37,095
Amortization of terminated hedge included in AOCL		—		—			—			230			230
Dividends		—		—			(50,203	)		—			(50,203	)
Balance September 30, 2020	$	482	$	2,533,402		$	(278,726	)	$	(5,270	)	$	2,249,888

The following is a reconciliation of the changes in the Parent Company’s total shareholders’ equity for the nine months ended September 30, 2019:

(dollars in thousands)	Common Stock		Additional Paid-in Capital		Dividends in Excess of Net Income			Accumulated Other Comprehensive Income (Loss)			Total Shareholders’ Equity
Balance December 31, 2018	$	466	$	2,372,157	$	(308,011	)	$	(6,875	)	$	2,057,737
Earned portion of non-vested stock		—		1,396		—			—			1,396
Adjustment to redemption value on noncontrolling redeemable Operating Partnership units		—		—		(294	)		—			(294	)
Net income attributable to common shareholders		—		—		34,454			—			34,454
Amortization of terminated hedge included in AOCL		—		—		—			229			229
Dividends		—		—		(46,631	)		—			(46,631	)
Balance March 31, 2019		466		2,373,553		(320,482	)		(6,646	)		2,046,891
Issuance of non-vested stock		1		—		—			—			1
Earned portion of non-vested stock		—		839		—			—			839
Adjustment to redemption value on noncontrolling redeemable Operating Partnership units		—		—		(150	)		—			(150	)
Net income attributable to common shareholders		—		—		40,742			—			40,742
Amortization of terminated hedge included in AOCL		—		—		—			229			229
Dividends		—		—		(46,632	)		—			(46,632	)
Balance June 30, 2019		467		2,374,392		(326,522	)		(6,417	)		2,041,920
Exercise of stock options		—		469		—			—			469
Earned portion of non-vested stock		—		955		—			—			955
Adjustment to redemption value on noncontrolling redeemable Operating Partnership units		—		—		(1,606	)		—			(1,606	)
Net income attributable to common shareholders		—		—		140,002			—			140,002
Amortization of terminated hedge included in AOCL		—		—		—			229			229
Dividends		—		—		(46,651	)		—			(46,651	)
Balance September 30, 2019	$	467	$	2,375,816	$	(234,777	)	$	(6,188	)	$	2,135,318