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

9 Months Ended

Sep. 30, 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	$	7.09	420,309		$	37.83	—	$	—	—	$	—
Granted	—		—		—	135,594		42.27		7.62	268,627			42.05	86,089		54.64	86,089		42.01
Exercised/Vested (1)	(8,375)		20.60		5.11	(118,416)		30.35		6.14	(239,778)			38.87	—		—	—		—
Cancelled/Expired	—		—		—	(112,706)		45.86		9.43	(22,786)	(2)		42.49	(1,739)		54.64	(1,739)		42.01
Outstanding at September 30, 2019	93,904	$	24.36	$	5.72	1,941,635	$	37.11	$	7.05	426,372		$	39.65	84,350	$	54.64	84,350	$	42.01

(1) This represents (i) Class O units which were converted to Class A units, (ii) options to purchase Class A common stock which were exercised, and (iii) 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, with respect to the applicable column.

(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

	Nine Months Ended September 30, 2019
Fair value of FFO units and restricted stock granted	$42.01 - $45.58
Fair value of TSR units granted	$54.64
Fair value of options granted	$7.56 - 8.28
Expected term (years)	5.5
Expected volatility	28%
Expected dividend yield	3.89 - 4.19%
Expected risk-free interest rates	2.33 - 2.56%

Summary of Information About Awards Outstanding

The following tables summarize information about awards outstanding as of September 30, 2019 (unaudited).

	Operating Partnership Awards Outstanding
				Weighted average
			Awards	remaining
	Exercise prices		outstanding	vesting period (years)
Class O Units	$	20.00 - 25.00	93,904	—
Total Operating Partnership awards outstanding			93,904

	QTS Realty Trust, Inc. Awards Outstanding
				Weighted average
			Awards	remaining
	Exercise prices		outstanding	vesting period (years)
Restricted stock	$	—	426,372	1.9
TSR units		—	84,350	2.5
FFO units		—	84,350	2.5
Options to purchase Class A common stock	$	21.00 - 50.66	1,941,635	0.6
Total QTS Realty Trust, Inc. awards outstanding			2,536,707

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 nine months ended September 30, 2019 and 2018 (unaudited):

Nine Months Ended September 30, 2019
				Aggregate
		Per Share and		Dividend/Distribution
Record Date	Payment Date	Per Unit Rate		Amount (in millions)
Common Stock/Units
June 25, 2019	July 9, 2019	$	0.44	$	27.3
March 20, 2019	April 4, 2019	$	0.44	$	27.3
December 21, 2018	January 8, 2019	$	0.41	$	23.7
				$	78.3
Series A Preferred Stock/Units
June 30, 2019	July 15, 2019	$	0.45	$	1.9
March 31, 2019	April 15, 2019	$	0.45	$	1.9
December 31, 2018	January 15, 2019	$	0.45	$	1.9
				$	5.7
Series B Preferred Stock/Units
June 30, 2019	July 15, 2019	$	1.63	$	5.1
March 31, 2019	April 15, 2019	$	1.63	$	5.1
December 31, 2018	January 15, 2019	$	1.63	$	5.1
				$	15.3

Nine Months Ended September 30, 2018
				Aggregate
		Per Common Share and		Dividend/Distribution
Record Date	Payment Date	Per Unit Rate		Amount (in millions)
Common Stock/Units
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/Units
June 29, 2018	July 16, 2018	$	0.45	$	1.9
April 5, 2018	April 16, 2018	$	0.15	$	0.6
				$	2.5