Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events

Subsequent Events

15. Subsequent Events

The following events occurred subsequent to the balance sheet date.

Debt:  We borrowed $24,000,000 under our unsecured revolving line of credit. Accordingly, we have $120,500,000 outstanding and $479,500,000 available for borrowing under our unsecured revolving line of credit. Additionally, we paid $4,167,000 in regular scheduled principal payments, accordingly we have $566,835,000 outstanding and $67,833,000 available under our senior unsecured notes.

Equity:  We declared a monthly cash dividend of $0.19 per share on our common stock for the months of January,  February and March 2018, payable on January 31,  February 28, and March 30, 2018, respectively, to stockholders of record on January 23,  February 20, and March 22, 2018, respectively. Also, we acquired 28,256 shares of common stock held by employees who tendered owned shares to satisfy tax withholding obligations and we granted 147,990 shares of restricted common stock at $38.18 per share. Out of these shares, 81,819 vest ratably from the grant date over a three-year period and 66,171 vest based on achieving certain TSR targets in 4 years with acceleration opportunity in 3 years.