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v3.7.0.1

Condensed Consolidated Statement of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016
Net interest income: |  |  |  |
Interest income from securities | $ 3,366 | $ 7,607 | $ 6,622 | $ 15,656
Interest income from securities, held to maturity | 1,334 | 2,826 | 4,132 | 5,722
Interest income from commercial mortgage loans | 37,089 | 24,140 | 71,487 | 45,267
Interest income from subordinate loans | 39,640 | 28,067 | 74,030 | 57,442
Interest expense | (19,205) | (15,722) | (36,235) | (30,364)
Net interest income | 62,224 | 46,918 | 120,036 | 93,723
Operating expenses: |  |  |  |
General and administrative expenses (includes $3,461 and $7,252 of equity based compensation in 2017 and $1,938 and $3,606 of equity compensation in 2016, respectively) | (5,200) | (4,922) | (10,958) | (13,104)
Management fees to related party | (7,742) | (5,242) | (15,175) | (10,471)
Total operating expenses | (12,942) | (10,164) | (26,133) | (23,575)
Income (loss) from unconsolidated joint venture | (3,305) | 59 | (2,847) | 127
Other income | 244 | 22 | 352 | 25
Provision for loan losses and impairments | (5,000) | (15,000) | (5,000) | (15,000)
Realized (loss) on sale of assets | 0 | 0 | (1,042) | 0
Unrealized (loss) on securities | (4,510) | (11,728) | (1,658) | (26,802)
Foreign currency gain (loss) | 6,913 | (13,082) | 10,085 | (17,557)
Gain (loss) on derivative instruments (includes unrealized gains (losses) of ($7,435) and ($10,324) in 2017 and $13,408 and $12,026 in 2016, respectively) | (7,389) | 13,313 | (10,434) | 18,015
Net income | 36,235 | 10,338 | 83,359 | 28,956
Preferred dividends | (9,310) | (5,860) | (18,620) | (11,675)
Net income available to common stockholders | $ 26,925 | $ 4,478 | $ 64,739 | $ 17,281
Basic and diluted net income per share (in dollars per share) | $ 0.28 | $ 0.06 | $ 0.68 | $ 0.24
Basic weighted average shares of common stock outstanding (shares) | 95,428,134 | 67,402,311 | 93,530,831 | 67,393,751
Diluted weighted average shares of common stock outstanding (shares) | 96,796,289 | 68,374,557 | 94,907,762 | 68,351,137
Dividend declared per share of common stock (in dollars per share) | $ 0.46 | $ 0.46 | $ 0.92 | $ 0.92

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