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v3.7.0.1

Condensed Consolidated Statement of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2017 | Mar. 31, 2016
Net interest income: |  |
Interest income from securities | $ 3,256 | $ 8,049
Interest income from securities, held to maturity | 2,798 | 2,896
Interest income from commercial mortgage loans | 34,398 | 21,127
Interest income from subordinate loans | 34,390 | 29,375
Interest expense | (17,030) | (14,642)
Net interest income | 57,812 | 46,805
Operating expenses: |  |
General and administrative expenses (includes $3,791 and $1,668 of equity based compensation in 2017 and 2016, respectively) | (5,758) | (8,185)
Management fees to related party | (7,432) | (5,229)
Total operating expenses | (13,190) | (13,414)
Income from unconsolidated joint venture | 458 | 68
Interest income from cash balances | 108 | 2
Realized loss on sale of assets | (1,042) | 0
Unrealized gain (loss) on securities | 2,852 | (15,074)
Foreign currency gain (loss) | 3,172 | (4,474)
Gain (loss) on derivative instruments (includes unrealized gains(losses) of ($2,889) in 2017 and $(1,380) in 2016, respectively) | (3,045) | 4,703
Net income | 47,125 | 18,616
Preferred dividends | (9,310) | (5,815)
Net income available to common stockholders | $ 37,815 | $ 12,801
Basic and diluted net income per share (in dollars per share) | $ 0.41 | $ 0.18
Basic weighted average shares of common stock outstanding (shares) | 91,612,447 | 67,385,191
Diluted weighted average shares of common stock outstanding (shares) | 92,998,250 | 68,327,718
Dividend declared per share of common stock (dollars per share) | $ 0.46 | $ 0.46

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