Partners' Capital, Equity and Incentive Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2016

Partners' Capital, Equity and Incentive Compensation Plans [Abstract]

Summary of Award Activity Under 2010 Equity Incentive Plan and 2013 Equity Incentive Plan and Related Information

The following is a summary of award activity under the 2010 Equity Incentive Plan and 2013 Equity Incentive Plan and related information for the nine months ended September 30, 2016 (unaudited):


	2010 Equity Incentive Plan								2013 Equity Incentive Plan
	Number of Class O units	Weighted average exercise price		Weighted average fair value		Number of Class RS units	Weighted average grant date value		Options	Weighted average exercise price		Weighted average fair value		Restricted Stock		Weighted average grant date value
Outstanding at December 31, 2015	1,292,899	$	23.76	$	3.68	39,875	$	22.18	867,882	$	27.80	$	5.56	394,908		$	33.82
Granted	—		—		—	—		—	229,693		45.78		9.91	236,148			45.25
Exercised/Vested	(125,992)		21.45		4.28	—		—	(29,543)		25.70		4.96	(83,139)	(1)		33.07
Released from restriction (2)	—		—		—	(39,875)		22.18	—		—		—	—			—
Cancelled/Expired (3)	—		—		—	—		—	(9,735)		32.14		6.95	(85,820)			33.78
Outstanding at September 30, 2016	1,166,907	$	24.00	$	3.61	—	$	—	1,058,297	$	31.72	$	6.51	462,097		$	39.81

(1)

This represents the Class A common stock that has been released from restriction and which was not surrendered by the holder to satisfy their statutory minimum federal and state tax obligations associated with the vesting of restricted common stock.

(2)

This represents Class RS units that upon vesting have converted to Operating Partnership units.

(3)

Includes approximately 40,000 restricted Class A common stock surrendered by certain employees to satisfy their statutory minimum federal and state tax obligations associated with the vesting of restricted common stock.

Summary of Assumptions and Fair Values for Restricted Stock and Options to Purchase Shares of Class A Common Stock Granted

Class O units and options to purchase shares of Class A common stock were valued using the Black-Scholes model.


		Nine Months Ended September 30, 2016
Fair value of restricted stock granted		$45.78-$56.28
Fair value of options granted		$9.57-$9.97
Expected term (years)		5.5-5.9
Expected volatility		30.7-31.3%
Expected dividend yield		3.14%
Expected risk-free interest rates		1.42-1.48%

Summary of Information About Awards Outstanding

The following table summarizes information about awards outstanding as of September 30, 2016 (unaudited).


	Operating Partnership Awards Outstanding
	Exercise prices		Awards outstanding	Weighted average remaining vesting period (years)
Class RS Units	$	—	—	—
Class O Units	$	20.00-25.00	1,166,907	0.1
Total Operating Partnership awards outstanding			1,166,907


	QTS Realty Trust, Inc. Awards Outstanding
	Exercise prices		Awards outstanding	Weighted average remaining vesting period (years)
Restricted stock	$	—	462,097	1.8
Options to purchase Class A common stock	$	21.00-45.78	1,058,297	1.0
Total QTS Realty Trust, Inc. awards outstanding			1,520,394

Schedule of Quarterly Cash Dividends

The following tables present quarterly cash dividends and distributions paid to QTS’ common stockholders and the Operating Partnership’s unit holders for the nine months ended September 30, 2016 and 2015 (unaudited):


Nine Months Ended September 30, 2016
Record Date	Payment Date	Per Common Share and Per Unit Rate		Aggregate Dividend/Distribution Amount (in millions)
June 17, 2016	July 6, 2016	$	0.36	$	19.7
March 18, 2016	April 5, 2016		0.36		17.4
December 17, 2015	January 6, 2016		0.32		15.4
				$	52.5


Nine Months Ended September 30, 2015
Record Date	Payment Date	Per Common Share and Per Unit Rate		Aggregate Dividend/Distribution Amount (in millions)
June 19, 2015	July 8, 2015	$	0.32	$	15.3
March 20, 2015	April 7, 2015		0.32		13.4
December 19, 2014	January 7, 2015		0.29		10.7
				$	39.4