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

3 Months Ended

Mar. 31, 2019

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		Restricted
		Weighted		average			Weighted		average		Stock /		Weighted			Weighted			Weighted
	Number of	average		fair			average		fair		Deferred		average			average			average
	Class O units	exercise price		value		Options	exercise price		value		Stock		grant price		TSR Units	grant price		FFO Units	grant price
Outstanding at December 31, 2018	102,279	$	24.05	$	5.67	2,037,163	$	36.86	$	7.10	420,309		$	37.83	—	$	—	—	$	—
Granted	—		—		—	124,955		42.01		7.56	265,231			42.01	86,089		54.64	86,089		42.01
Exercised/Vested (1)	—		—		—	(96,589)		27.82		5.58	(95,330)			37.12	—		—	—		—
Cancelled/Expired	—		—		—	(60,285)		46.07		9.62	(54,041)	(2)		38.73	—		—	—		—
Outstanding at March 31, 2019	102,279	$	24.05	$	5.67	2,005,244	$	37.34	$	7.12	536,169		$	39.93	86,089	$	54.64	86,089	$	42.01

(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 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


		Three Months Ended March 31, 2019
Fair value of FFO units and restricted stock granted		$ 42.01
Fair value of TSR units granted		$ 54.64
Fair value of options granted		$ 7.56
Expected term (years)		5.5
Expected volatility		28%
Expected dividend yield		4.19%
Expected risk-free interest rates		2.56%

Summary of Information About Awards Outstanding

The following tables summarize information about awards outstanding as of March 31, 2019 (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	$	—	536,169	2.0
TSR units		—	86,089	2.8
FFO units		—	86,089	2.8
Options to purchase Class A common stock	$	21.00 - 50.66	2,005,244	0.8
Total QTS Realty Trust, Inc. awards outstanding			2,713,591

Schedule of Quarterly Cash Dividends

The following tables present quarterly cash dividends and distributions paid to QTS’ common and preferred stockholders and the Operating Partnership’s unit holders for the three months ended March 31, 2019 and 2018 (unaudited):


Three Months Ended March 31, 2019
				Aggregate
		Per Share and		Dividend/Distribution
Record Date	Payment Date	Per Unit Rate		Amount (in millions)
Common Stock
December 21, 2018	January 8, 2019	$	0.41	$	23.7
				$	23.7

Series A Preferred Stock
December 31, 2018	January 15, 2019	$	0.45	$	1.9
				$	1.9

Series B Preferred Stock
December 31, 2018	January 15, 2019	$	1.63	$	5.1
				$	5.1


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