Common Shares Of Beneficial Interest

12 Months Ended

Dec. 31, 2018

Class of Stock Disclosures [Abstract]

Common Shares of Beneficial Interest

Common Shares of Beneficial Interest

We have a $200 million share repurchase plan where we may repurchase common shares from time-to-time in open-market or in privately negotiated purchases. The timing and amount of any shares repurchased will be determined by management based on its evaluation of market conditions and other factors. The repurchase plan may be suspended or discontinued at any time, and we have no obligations to repurchase any amount of our common shares under the plan.

During the year ended December 31, 2018, we repurchased .7 million common shares at an average price of $27.10 per share. At December 31, 2018 and as of the date of this filing, $181.5 million of common shares remained available to be repurchased under this plan.

Common dividends declared per share were $2.98, $2.29 and $1.46 for the year ended December 31, 2018, 2017 and 2016, respectively. The regular dividend rate per share for our common shares for each quarter of 2018 and 2017 was $.395 and $.385, respectively. Also in each December 2018 and 2017, we paid a special dividend for our common shares in an amount per share of $1.40 and $.75, respectively, which was due to the significant gains on dispositions of property. Subsequent to December 31, 2018, a first quarter dividend of $.395 per common share was approved by our Board of Trust Managers.