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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Assets:    
Cash $ 23,035 $ 67,415
Restricted cash 55,781 30,127
Securities, at estimated fair value 472,464 493,149
Securities, held-to-maturity 152,451 153,193
Investment in unconsolidated joint venture 23,728 22,583
Derivative assets 1,938 3,327
Interest receivable 23,495 16,908
Other assets 18 236
Total Assets 2,856,496 2,712,590
Liabilities:    
Borrowings under repurchase agreements (net of deferred financing costs of $7,651 and $7,353 in 2016 and 2015, respectively) 1,083,665 918,421
Convertible senior notes, net 248,617 248,173
Participations sold 116,952 118,201
Accounts payable and accrued expenses 8,562 9,246
Payable to related party 5,229 5,297
Dividends payable 36,421 37,828
Total Liabilities $ 1,499,446 $ 1,337,166
Commitments and Contingencies
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 67,385,255 and 67,195,252 shares issued and outstanding in 2016 and 2015, respectively $ 674 $ 672
Additional paid-in-capital 1,409,489 1,410,138
Retained earnings (accumulated deficit) (50,973) (32,328)
Accumulated other comprehensive loss (2,255) (3,173)
Total Stockholders’ Equity 1,357,050 1,375,424
Total Liabilities and Stockholders’ Equity 2,856,496 2,712,590
Commercial mortgage loans [Member]    
Assets:    
Loans, held for investment 1,173,185 994,301
Subordinate loans [Member]    
Assets:    
Loans, held for investment 930,401 931,351
Series A Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock 35 35
Series B Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock $ 80 $ 80