Equity (Tables)

6 Months Ended

Jun. 30, 2015

Equity

Schedule of equity

Equity activity was as follows (in thousands):

	Total
	Equity
Balance at December 31, 2014	$	660,121
Net income		35,480
Vesting of stock option and restricted common stock		2,081
Stock option exercise		79
Reclassification adjustment		(17)
Preferred stock dividends		(1,636)
Common stock dividends		(36,247)
Other		(339)
Balance at June 30, 2015	$	659,522

Schedule of cash dividends declared and paid

We declared and paid the following cash dividends (in thousands):

	Six Months Ended June 30, 2015				Six Months Ended June 30, 2014
	Declared		Paid		Declared		Paid
Preferred Stock Series C	$	1,636	$	1,636	$	1,636	$	1,636
Common Stock(1)		36,247		36,247		35,504		35,504
Total	$	37,883	$	37,883	$	37,140	$	37,140

Represents $0.17per share per month for each of the six months ended June 30, 2015 and 2014, respectively.

Schedule of restricted stock granted

		Price per
Year	No. of Shares	Share		Vesting Period
2015	65,750	$	44.45	ratably over 3 years
	18,000	$	42.30	ratably over 3 years
	8,400	$	42.30	June 2, 2016
	92,150
2014	59,000	$	36.81	ratably over 3 years
	3,000	$	38.43	ratably over 3 years
	15,000	$	40.05	ratably over 3 years
	10,500	$	40.05	June 9, 2015
	87,500

Schedule of options exercised

The options exercised during the six months ended June 30, 2015 and 2014 were as follows:

		Weighted
		Average
	Options	Exercise		Option		Market
	Exercised	Price		Value		Value(1)
2015	3,333	$	23.79	$	79,000	$	140,000
2014	11,666	$	23.79	$	277,000	$	455,000

(1) As of the exercise dates.

Summary of scheduled number of stock option vesting and remaining compensation expense

The following table summarizes our scheduled number of stock option vesting and remaining compensation expense to be recognized related to the future service period of unvested outstanding stock options:

	Number	Remaining
	of	Compensation
Vesting Date	Awards	Expense
2015	—	$	7,000
2016	5,000		15,000
2017	5,000		3,000
	10,000	$	25,000

Summary of the total number of restricted common shares scheduled to vest and remaining compensation expense

At June 30, 2015, the total number of restricted common shares that are scheduled to vest and remaining compensation expense to be recognized related to the future service period of unvested outstanding restricted common stock are as follows:

	Number	Remaining
	of	Compensation
Vesting Date	Awards	Expense
2015	41,200	$	1,919,000
2016	102,060		2,618,000
2017	57,367		1,416,000
2018	27,920		187,000
	228,547	$	6,140,000