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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Assets:    
Cash $ 142,905 $ 200,996
Restricted cash 54,702 62,457
Securities, at estimated fair value 261,841 331,076
Securities, held-to-maturity 145,780 146,352
Total loans, held for investment, net 3,151,386 2,693,092
Investment in unconsolidated joint venture 23,538 22,103
Derivative assets, net 3,009 5,906
Interest receivable 22,297 19,281
Other assets 3,107 1,714
Total Assets 3,808,565 3,482,977
Liabilities:    
Borrowings under repurchase agreements (net of deferred financing costs of $9,954 and $6,763 in 2017 and 2016, respectively) 1,477,281 1,139,803
Convertible senior notes, net 250,468 249,994
Participations sold 84,647 84,979
Accounts payable and accrued expenses 8,652 17,681
Payable to related party 7,432 7,015
Dividends payable 51,109 51,278
Total Liabilities 1,879,589 1,550,750
Commitments and Contingencies
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 91,621,274 and 91,422,676 shares issued and outstanding in 2017 and 2016, respectively 916 914
Additional paid-in-capital 1,984,471 1,983,010
Accumulated deficit (53,035) (48,070)
Accumulated other comprehensive loss (3,560) (3,811)
Total Stockholders’ Equity 1,928,976 1,932,227
Total Liabilities and Stockholders’ Equity 3,808,565 3,482,977
Commercial Mortgage Portfolio Segment [Member]    
Assets:    
Total loans, held for investment, net 1,955,816 1,641,856
Subordinate Mortgage Portfolio Segment [Member]    
Assets:    
Total loans, held for investment, net 1,195,570 1,051,236
Series A Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock 35 35
Series B Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock 80 80
Series C Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock $ 69 $ 69