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

9 Months Ended

Sep. 30, 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
				Weighted					Weighted				Weighted
		Weighted		average			Weighted		average				average
	Number of	average		fair			average		fair		Restricted		grant date
	Class O units	exercise price		value		Options	exercise price		value		Stock		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	346,757			35.60
Exercised/Vested (1)	(465,761)		23.40		4.76	(1,188)		23.61		4.34	(176,507)			47.41
Cancelled/Expired	—		—		—	—		—		—	(59,344)	(2)		45.31
Outstanding at September 30, 2018	102,279	$	24.02	$	5.67	2,040,631	$	36.82	$	7.08	492,770		$	38.54

(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


		Nine Months Ended September 30, 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 September 30, 2018 (unaudited).


	Operating Partnership Awards Outstanding
				Weighted average
			Awards	remaining
	Exercise prices		outstanding	vesting period (years)
Class O Units	$	20.00 - 25.00	102,279	—
Total Operating Partnership awards outstanding			102,279


	QTS Realty Trust, Inc. Awards Outstanding
				Weighted average
			Awards	remaining
	Exercise prices		outstanding	vesting period (years)
Restricted stock	$	—	492,770	1.7
Options to purchase Class A common stock	$	21.00 - 50.66	2,040,631	1.5
Total QTS Realty Trust, Inc. awards outstanding			2,533,401

Schedule of Quarterly Cash Dividends

The following table presents quarterly cash dividends and distributions paid to QTS’ common and preferred stockholders and the Operating Partnership’s unit holders for the nine months ended September 30, 2018 and 2017 (unaudited):


Nine Months Ended September 30, 2018
				Aggregate
		Per Share and		Dividend/Distribution
Record Date	Payment Date	Per Unit Rate		Amount (in millions)
Common Stock
June 20, 2018	July 6, 2018	$	0.41	$	23.7
March 22, 2018	April 5, 2018	$	0.41		23.7
December 5, 2017	January 5, 2018	$	0.39		22.2
				$	69.6

Series A Preferred Stock
June 29, 2018	July 16, 2018	$	0.45	$	1.9
April 5, 2018	April 16, 2018	$	0.15		0.6
				$	2.5


Nine Months Ended September 30, 2017
				Aggregate
		Per Common Share and		Dividend/Distribution
Record Date	Payment Date	Per Unit Rate		Amount (in millions)
June 16, 2017	July 6, 2017	$	0.39	$	21.6
March 16, 2017	April 5, 2017	$	0.39		21.4
December 16, 2016	January 5, 2017	$	0.36		19.7
				$	62.7