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

3 Months Ended

Mar. 31, 2018

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

	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, 2017	568,040	$	23.52	$	5.00	1,369,270	$	38.18	$	7.80	381,864		$	46.37
Granted	—		—		—	672,549		34.03		5.63	340,033			35.27
Exercised/Vested (1)	(459,472)		23.31		4.73	—		—		—	(101,248)			48.90
Cancelled/Expired	(1,567)		25.00		10.26	—		—		—	(31,010)	(2)		47.06
Outstanding at March 31, 2018	107,001	$	24.40	$	6.06	2,041,819	$	36.81	$	7.08	589,639		$	39.50

(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)

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


		Three Months Ended March 31, 2018
Fair value of restricted stock granted		$34.03 - $54.01
Fair value of options granted		$5.55 - $5.64
Expected term (years)		5.5 - 6.0
Expected volatility		28%
Expected dividend yield		4.82%
Expected risk-free interest rates		2.69% - 2.73%

Summary of Information About Awards Outstanding

The following tables summarize information about awards outstanding as of March 31, 2018 (unaudited).


	Operating Partnership Awards Outstanding
	Exercise prices		Awards outstanding	Weighted average remaining vesting period (years)
Class O Units	$	20.00 - 25.00	107,001	—
Total Operating Partnership awards outstanding			107,001


	QTS Realty Trust, Inc. Awards Outstanding
	Exercise prices		Awards outstanding	Weighted average remaining vesting period (years)
Restricted stock	$	—	589,639	2.0
Options to purchase Class A common stock	$	21.00 - 50.66	2,041,819	1.3
Total QTS Realty Trust, Inc. awards outstanding			2,631,458

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 three months ended March 31, 2018 and 2017 (unaudited):


Three Months Ended March 31, 2018
Record Date	Payment Date	Per Common Share and Per Unit Rate		Aggregate Dividend/Distribution Amount (in millions)
December 5, 2017	January 5, 2018	$	0.39	$	22.2
				$	22.2


Three Months Ended March 31, 2017
Record Date	Payment Date	Per Common Share and Per Unit Rate		Aggregate Dividend/Distribution Amount (in millions)
December 16, 2016	January 5, 2017	$	0.36	$	19.7
				$	19.7