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Equity Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Activity
The following table details the restricted shares activity within the Equity Plan and Director Stock Plan during the six months ended June 30, 2014:
 
 
 
 
 
 
 
 
 
 
 
Equity Plan
 
Director Stock Plan
 
 
Shares of
Restricted Common Stock
 
Weighted-Average Issue Price
 
Shares of
Restricted Common Stock
 
Weighted-Average Issue Price
Unvested, December 31, 2013
 
931,442

 
$
13.82

 
15,000

 
$
14.45

Granted
 
5,528,224

 
13.20

 
42,854

 
13.99

Vested
 
(784,894
)
 
12.79

 
(22,202
)
 
—

Forfeited
 
(60,456
)
 
—

 
—

 
—

Unvested, June 30, 2014
 
5,614,316

 
$
13.35

 
35,652

 
$
14.11
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Performance Schedule [Table Text Block]
Subject to the New OPP Cap, the pool will equal an amount to be determined based on the Company’s level of achievement of total return to stockholders, including both share price appreciation and common stock distributions (“Total Return”), as measured against an absolute hurdle and against a peer group of companies for a three-year performance period that commenced on October 1, 2013 (the “Performance Period”), with valuation dates on which a portion of the LTIP Units up to a specified amount of the New OPP Cap could be earned on the last day of each 12-month period during the Performance Period (each an “Annual Period”) and the initial 24-month period of the Performance Period (the “Interim Period”), as follows:
 
 
Performance Period
 
Annual Period
 
Interim Period
Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period:
21%
 
7%
 
14%
Relative Component: 4% of any excess Total Return attained above the median Total Return for the performance period of the Peer Group(1), subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period:
 
 
 
 
 
•
100% will be earned if cumulative Total Return achieved is at least:
18%
 
6%
 
12%
•
50% will be earned if a cumulative Total Return achieved is:
0%
 
0%
 
0%
•
0% will be earned if cumulative Total Return achieved is less than:
0%
 
0%
 
0%
•
a percentage from 50% to 100% calculated by linear interpolation will be earned if cumulative Total Return achieved is if between:
0% - 18%
 
0% - 6%
 
0%- 12%
____________________________________
(1) The “Peer Group” is comprised of the following companies: EPR Properties; Getty Realty Corporation; Lexington Realty Trust; National Retail Properties, Inc.; Realty Income Corporation; and Spirit Realty Capital, Inc.