Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

The Company’s authorized capital stock consists of 450,000,000 shares of common stock, $0.01 par value per share and 50,000,000 shares of preferred stock, $0.01 par value per share. As of December 31, 2014, 46,900,442 shares of common stock were issued and outstanding and there were 3,450,000 shares of preferred stock issued and outstanding.

Dividends.    During 2014 and 2013, the Company has declared the following dividends on its common stock:

Declaration Date	Record Date	Payment Date	Amount
February 27, 2013	March 28, 2013	April 12, 2013	$	0.40
May 1, 2013	June 28, 2013	July 12, 2013	$	0.40
July 31, 2013	September 30, 2013	October 11, 2013	$	0.40
11/4/13	December 31, 2013	January 13, 2014	$	0.40
February 26, 2014	March 31, 2014	April 15, 2014	$	0.40
April 29, 2014	June 30, 2014	July 15, 2014	$	0.40
July 28, 2014	September 30, 2014	October 15, 2014	$	0.40
October 28, 2014	December 31, 2014	1/15/15	$	0.40

During 2014 and 2013, the Company declared the following dividends on its Series A Preferred Stock:

Declaration Date	Record Date	Payment Date	Amount
March 15, 2013	March 28, 2013	April 15, 2013	$	0.5391
June 12, 2013	June 28, 2013	July 15, 2013	$	0.5391
September 16, 2013	September 30, 2013	October 15, 2013	$	0.5391
December 9, 2013	December 30, 2013	January 15, 2014	$	0.5391
March 17, 2014	March 31, 2014	April 15, 2014	$	0.5391
June 9, 2014	June 30, 2014	July 15, 2014	$	0.5391
September 8, 2014	September 30, 2014	October 15, 2014	$	0.5391
December 16, 2014	December 31, 2014	January 15, 2015	$	0.5391

Common Stock Offerings. During the second quarter of 2014, the Company completed a follow-on public offering of 9,706,000 shares of its common stock, including the partial exercise of the underwriters’ option to purchase additional shares, at a price of $16.35 per share. The aggregate net proceeds from the offering, including proceeds from the sale of the additional shares, were approximately $158,439 after deducting estimated offering expenses payable by the Company.

During March 2013, the Company completed a follow-on public offering of 8,805,000 shares of its common stock, including the partial exercise of the underwriters’ option to purchase additional shares, at a price of $16.90 per share. The aggregate net proceeds from the offering, including proceeds from the sale of the additional shares, were approximately $148,333 after deducting estimated offering expenses payable by the Company.

ATM Program. In May 2013, the Company entered into an ATM Equity Offering Sales Agreement with Merrill Lynch, Pierce, Fenner & Smith Incorporated and JMP Securities LLC (the "Agents"), relating to shares of the Company's common stock. In accordance with the terms of the agreement, the Company may offer and sell shares of common stock having an aggregate offering price of up to $100,000 from time to time through the Agents. Sales of the shares, if any, will be made by means of ordinary brokers' transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, or as otherwise agreed with the applicable Agent. To date, the Company has not directed the Agents to sell any shares.

Stock Repurchase Program. In July 2013, the Company's board of directors approved a stock repurchase program to authorize the Company to repurchase up to an aggregate of $50,000 of its shares of common stock. To date, the Company has not repurchased any shares pursuant to the stock repurchase program.