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Partners' Capital, Equity and Incentive Compensation Plans (Tables)
 6 Months Ended
Jun. 30, 2021
Equity [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, 2021 (unaudited):
2010 Equity Incentive Plan2013 Equity Incentive Plan
Numbers of Class O unitsWeighted average exercise priceWeighted average fair valueOptionsWeighted average exercise priceWeighted average fair valueRestricted Stock / Deferred StockWeighted average fair value at grant date
TSR Units (2)
Weighted average fair value at grant date
FFO Units (2)
Weighted average fair value at grant date
Outstanding at December 31, 202075,435 $25.00 $6.11 1,936,407 $38.55 $7.26 416,496 $52.20 168,552 $66.90 132,267 $51.45 
Granted— — — 96,366 59.06 10.53 271,625 59.09 105,402 64.72 105,402 59.06 
Exercised/Vested (1)
— — — (51,220)38.63 7.91 (171,236)52.63 — — — — 
Cancelled/Expired— — — — — — (4,305)57.38 — — — — 
Outstanding at June 30, 202175,435 $25.00 $6.11 1,981,553 $39.55 $7.40 512,580 $55.66 273,954 $66.06 237,669 $54.82 
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(1)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)Unmeasured TSR Units and FFO Units are presented in the table herein at 100% of target.
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 restricted stock and options to purchase shares of Class A common stock granted for the six months ended June 30, 2021 are included in the following table on a per unit basis (unaudited). Options to purchase shares of Class A common stock were valued using the Black-Scholes model and TSR Units were valued using a Monte-Carlo simulation that leveraged similar assumptions to those used to value the Class A common stock and FFO Units.
Six Months Ended June 30, 2021
Fair value of FFO Units and restricted stock granted$59.06 -$64.20 
Fair value of TSR Units granted$64.72 
Fair value of options granted$3.79 -$11.36 
Expected term (years)0.4-5.5
Expected volatility28 %-31 %
Expected dividend yield3.39 %
Expected risk-free interest rates0.06 %-0.90 %
Summary of Information About Awards Outstanding
The following tables summarize information about awards outstanding as of June 30, 2021 (unaudited).
Operating Partnership Awards Outstanding
Exercise pricesAwards outstandingWeight average remaining vesting period 
(years)
Class O Units$25.00 75,435 —
Total Operating Partnership awards outstanding
75,435 

QTS Realty Trust, Inc. Awards Outstanding
Exercise pricesAwards outstandingWeight average remaining vesting period 
(years)
Restricted stock—512,580 0.9
TSR Units—273,954 0.9
FFO Units—237,669 0.6
Options to purchase Class A common stock$21.00 -$59.06 1,981,553 0.7
Total QTS Realty Trust, Inc. awards outstanding3,005,756 
Schedule of Quarterly Cash Dividends
The following tables present quarterly cash dividends and distributions paid to our common and preferred stockholders for the six months ended June 30, 2021 and 2020 (unaudited):
Six Months Ended June 30, 2021
Record DatePayment DatePer Share RateAggregate Dividend/Distribution Amount (in millions)
Common Stock
March 19, 2021April 6, 2021$0.50 $35.7 
December 22, 2020January 7, 2021$0.47 33.4
$69.1 
Series A Preferred Stock
March 31, 2021April 15, 2021$0.45 $1.9 
December 31, 2020January 15, 2021$0.45 1.9
$3.8 
Series B Preferred Stock
March 31, 2021April 15, 2021$1.63 $5.1 
December 31, 2020January 15, 2021$1.63 5.1
$10.2 

Six Months Ended June 30, 2020
Record DatePayment DatePer Share RateAggregate Dividend/Distribution Amount (in millions)
Common Stock
March 20, 2020April 7, 2020$0.47 $31.5 
December 20, 2019January 7, 2020$0.44 28.6
$60.1 
Series A Preferred Stock
March 31, 2020April 15, 2020$0.45 $1.9 
December 31, 2019January 15, 2020$0.45 1.9
$3.8 
Series B Preferred Stock
March 31, 2020April 15, 2020$1.63 $5.1 
December 31, 2019January 15, 2020$1.63 5.1
$10.2