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

6 Months Ended

Jun. 30, 2017

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 six months ended June 30, 2017 (unaudited):  

	2010 Equity Incentive Plan					2013 Equity Incentive Plan
	Number of Class O units	Weighted average exercise price		Weighted average fair value		Options	Weighted average exercise price		Weighted average fair value		Restricted Stock		Weighted average grant date value
Outstanding at December 31, 2016	1,134,811	$	24.06	$	3.62	1,058,297	$	31.72	$	6.51	414,691		$	40.67
Granted	—		—		—	468,875		50.66		10.32	227,188			50.66
Exercised/Vested (1)	(48,276)		21.09		5.54	(24,875)		25.33		4.87	(110,343)	(1)		41.96
Cancelled/Expired (2)	—		—		—	(2,000)		37.69		8.77	(54,263)			41.33
Outstanding at June 30, 2017	1,086,535	$	24.19	$	3.53	1,500,297	$	37.74	$	7.72	477,273		$	45.05

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

(2) Includes restricted Class A common stock surrendered by certain employees to satisfy their 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 six months ended June 30, 2017 are included in the following table on a per unit basis (unaudited). Class O units and options to purchase shares of Class A common stock were valued using the Black-Scholes model.

	Six Months Ended June 30, 2017
Fair value of restricted stock granted	$48.63 - $50.66
Fair value of options granted	$10.11 - $10.36
Expected term (years)	5.5 - 5.9
Expected volatility	28%
Expected dividend yield	3.08%
Expected risk-free interest rates	2.12% - 2.18%

Summary of Information About Awards Outstanding

The following table summarizes information about awards outstanding as of June 30, 2017 (unaudited).

	Operating Partnership Awards Outstanding
	Exercise prices		Awards outstanding	Weighted average remaining vesting period  (years)
Class O Units	$	20.00 - 25.00	1,086,535	—
Total Operating Partnership awards outstanding			1,086,535

	QTS Realty Trust, Inc. Awards Outstanding
	Exercise prices		Awards outstanding	Weighted average remaining vesting period (years)
Restricted stock	$	—	477,273	2.0
Options to purchase Class A common stock	$	21.00 - 50.66	1,500,297	1.1
Total QTS Realty Trust, Inc. awards outstanding			1,977,570

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 six months ended June 30, 2017 and 2016 (unaudited):

Six Months Ended June 30, 2017
Record Date	Payment Date	Per Common Share and Per Unit Rate		Aggregate Dividend/Distribution Amount (in millions)
March 16, 2017	April 5, 2017	$	0.39	$	21.4
December 16, 2016	January 5, 2017		0.36		19.7
				$	41.1

Six Months Ended June 30, 2016
Record Date	Payment Date	Per Common Share and Per Unit Rate		Aggregate Dividend/Distribution Amount (in millions)
March 18, 2016	April 5, 2016	$	0.36	$	17.4
December 17, 2015	January 6, 2016		0.32		15.4
				$	32.8