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Partners' Capital, Equity and Incentive Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 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 years ended December 31, 2016, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2010 Equity Incentive Plan

 

2013 Equity Incentive Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

Weighted

 

 

 

 

 

Weighted

 

Weighted

 

 

 

average

 

 

 

Weighted

 

average

 

 

 

average

 

 

 

Number of

 

average

 

Average fair

 

Number of

 

Grant date

 

 

 

average

 

fair

 

Restricted

 

Grant date

 

    

 

Class O units

    

exercise price

    

value

    

Class RS units

    

value

    

Options

    

exercise price

    

value

    

Stock

    

value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2014

 

 
1,622,747

 

$
23.44

 

$
3.84

 
173,750

 

$
24.31

 
367,910

 

$
21.00

 

$
3.50

 
108,629

 

$
21.00

Granted

 

 

—  

 

 

—  

 

 

—  

 

 —

 

 

 —

 
238,039

 

 
25.59

 

 
4.96

 
172,102

 

 
32.66

Exercised/Vested (1)

 

 
(15,750)

 

 
20.71

 

 
4.75

 

 —

 

 

 —

 
(3,000)

 

 
21.00

 

 
3.52

 
(25,786)

 

 
21.00

Released from restriction (2)

 

 

 —

 

 

 —

 

 

 —

 
(99,125)

 

 
24.94

 

 —

 

 

 —

 

 

 —

 

 —

 

 

 —

Cancelled/Expired (3)

 

 
(88,280)

 

 
23.01

 

 
5.23

 

 —

 

 

 —

 
(18,000)

 

 
21.00

 

 
3.52

 
(8,160)

 

 
21.00

Outstanding at December 31, 2014

 

 
1,518,717

 

$
23.49

 

$
3.75

 
74,625

 

$
23.49

 
584,949

 

$
22.87

 

$
4.10

 
246,785

 

$
29.13

Granted

 

 

 —

 

 

 —

 

 

 —

 

 —

 

 

 —

 
317,497

 

 
36.16

 

 
8.03

 
230,271

 

 
36.71

Exercised/Vested (1)

 

 
(222,499)

 

 
22.02

 

 
4.18

 

 —

 

 

 —

 
(23,157)

 

 
21.30

 

 
3.63

 
(54,400)

 

 
28.37

Released from restriction (2)

 

 

 —

 

 

 —

 

 

 —

 
(34,750)

 

 
25.00

 

 —

 

 

 —

 

 

 —

 

 —

 

 

 —

Cancelled/Expired (3)

 

 
(3,319)

 

 
20.00

 

 
3.92

 

 —

 

 

 —

 
(11,407)

 

 
21.00

 

 
3.52

 
(27,748)

 

 
28.33

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

 
237,563

 

 
45.53

Exercised/Vested (1)

 

 
(158,088)

 

 
21.56

 

 
4.18

 

 —

 

 

 —

 
(29,543)

 

 
25.70

 

 
4.96

 
(122,136)

 

 
33.26

Released from restriction (2)

 

 

 —

 

 

 —

 

 

 —

 
(39,875)

 

 
22.18

 

 —

 

 

 —

 

 

 —

 

 —

 

 

 —

Cancelled/Expired (3)

 

 

 —

 

 

 —

 

 

 —

 

 —

 

 

 —

 
(9,735)

 

 
32.14

 

 
6.95

 
(95,644)

 

 
33.92

Outstanding at December 31, 2016

 

 
1,134,811

 

$
24.06

 

$
3.62

 

 —

 

$

 —

 
1,058,297

 

$
31.72

 

$
6.51

 
414,691

 

$
40.67

(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. This also represents Class O units which were converted to Class A units and Options to purchase Class A common stock which were exercised for their respective columns. 

(2)

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

(3)

Includes 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

The assumptions and fair values for Class O units, restricted stock and options to purchase shares of Class A common stock granted for the years ended December 31, 2016, 2015 and 2014 are included in the following table on a per unit basis. Class O units and options to purchase shares of Class A common stock were valued using the Black-Scholes model.

 

 

 

 

 

 

 

 

 

 

 

 

    

2016

    

2015

    

2014

Fair value of restricted stock granted

 

 

$45.78-$56.28

 

 

$35.81-$37.69

 

 

$25.51-$35.51

Fair value of options granted

 

 

$9.57-$9.97

 

 

$8.00-$8.77

 

 

$4.94-$5.98

Expected term (years)

 

 

5.5-5.9

 

 

5.5-6.1 

 

 

5.5-6.1 

Expected volatility

 

 

30.7%-31.3%

 

 
33%

 

 
33%

Expected dividend yield

 

 
3.14%

 

 

3.40%-3.57%

 

 

4.02%-4.55%

Expected risk-free interest rates

 

 

1.42%-1.48%

 

 

1.67%-1.94%

 

 

1.7%-1.9%

 

Summary of Information About Awards Outstanding

The following tables summarize information about awards outstanding as of December 31, 2016.

 

 

 

 

 

 

 

 

 

 

 

Operating Partnership Awards Outstanding

 

 

 

 

 

 

 

Weighted average

 

 

 

 

 

Awards

 

remaining

 

    

Exercise prices 

    

outstanding 

    

vesting period (years) 

Class O Units

 

$

20.00-25.00

 
1,134,811

 

 —

Total Operating Partnership awards outstanding

 

 

 

 
1,134,811

 

 

 

 

 

 

 

 

 

 

 

 

 

 

QTS Realty Trust, Inc. Awards Outstanding

 

 

 

 

 

 

 

Weighted average

 

 

 

 

 

Awards

 

remaining

 

    

Exercise prices 

    

outstanding 

    

vesting period (years)

Restricted stock

   

$

 —

 
414,691

 

1.6

Options to purchase Class A common stock

 

$

21.00-45.78

 
1,058,297

 

0.9

Total QTS Realty Trust, Inc. awards outstanding

 

 

 

 
1,472,988

 

 

 

Schedule of Quarterly Cash Dividends

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2016

 

 

 

 

 

 

 

Aggregate

 

 

 

 

Per Common Share and

 

Dividend/Distribution

Record Date

    

Payment Date

    

Per Unit Rate

    

Amount (in millions)

September 20, 2016

 

October 5, 2016

 

$
0.36

 

$
19.7

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

 

 

 

 

$
1.40

 

$
72.2

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2015

 

 

 

 

 

 

 

Aggregate

 

 

 

 

Per Common Share and

 

Dividend/Distribution

Record Date

    

Payment Date

    

Per Unit Rate

    

Amount (in millions)

September 18, 2015

 

October 6, 2015

 

$
0.32

 

$
15.3

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

 

 

 

 

$
1.25

 

$
54.7