XML 39 R75.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Summarized Quarterly Results (Unaudited) - Schedule of Summarized Quarterly Results (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Net interest income:                      
Interest income from commercial mortgage loans $ 85,595 $ 81,136 $ 77,458 $ 78,286 $ 75,275 $ 71,179 $ 65,141 $ 52,114 $ 322,475 $ 263,709 $ 158,632
Interest income from subordinate loans and other lending assets 39,630 43,421 41,043 40,839 34,944 37,308 34,075 33,853 164,933 140,180 179,889
Interest expense (43,779) (39,341) (33,511) (36,295) (32,413) (31,007) (28,437) (22,740) (152,926) (114,597) (78,057)
Net interest income 81,446 85,216 84,990 82,830 77,806 77,480 70,779 63,227 334,482 289,292 260,464
Operating expenses:                      
General and administrative expenses (5,533) (5,839) (6,574) (6,151) (3,977) (5,843) (5,652) (4,998) (24,097) (20,470) (20,725)
Management fees to related party (10,428) (10,434) (10,259) (9,613) (9,804) (9,515) (9,013) (8,092) (40,734) (36,424) (31,652)
Total operating expenses (15,961) (16,273) (16,833) (15,764) (13,781) (15,358) (14,665) (13,090) (64,831) (56,894) (52,377)
Other income 682 429 484 518 465 427 343 203 2,113 1,438 940
Provision for loan losses and impairments, net of reversals 0 (35,000) 15,000 0 (15,000) 0 (5,000) 0 (20,000) (20,000) (5,000)
Realized loss on investments 0 0 (12,513) 0 0 0 0 0 (12,513) 0 (42,693)
Foreign currency gain (loss) 39,830 (19,129) (7,777) 6,894 (6,761) (4,050) (29,649) 10,125 19,818 (30,335) 18,506
Loss on early extinguishment of debt 0 0 0 0 0 (2,573) 0 0 0 2,573 1,947
Gain (loss) on foreign currency forwards (43,044) 24,153 11,186 (6,720) 10,261 6,291 33,538 (11,032) (14,425) 39,058 (19,180)
Gain (loss) on interest rate swap 8,950 (10,307) (13,113) 0 0 0 0 0 (43,046) 29,345 (11,523)
Net income 71,903 29,089 61,424 67,758 52,990 62,217 55,346 49,433 230,174 219,986 193,031
Preferred dividends (3,386) (3,385) (4,919) (6,835) (6,835) (6,836) (6,834) (6,835) (18,525) (27,340) (36,761)
Net income available to common stockholders $ 68,517 $ 25,704 $ 56,505 $ 60,923 $ 46,155 $ 55,381 $ 48,512 $ 42,598 $ 211,649 $ 192,646 $ 156,270
Net income per share of common stock:                      
Basic (in dollars per share) $ 0.44 $ 0.16 $ 0.38 $ 0.45 $ 0.34 $ 0.42 $ 0.39 $ 0.38 $ 1.41 $ 1.52 $ 1.54
Diluted (in dollars per share) $ 0.42 $ 0.16 $ 0.37 $ 0.43 $ 0.34 $ 0.40 $ 0.39 $ 0.38 $ 1.40 $ 1.48 $ 1.54
Basic weighted-average shares of common stock outstanding (in shares) 153,537,074 153,531,678 145,567,963 134,607,107 133,852,915 129,188,343 123,019,993 110,211,853 146,881,231 124,147,073 99,859,153
Diluted weighted-average shares of common stock outstanding (in shares) 182,070,345 153,531,678 174,101,234 164,683,086 163,900,633 153,918,435 124,629,317 111,871,429 175,794,896 153,821,515 101,232,610
Dividend declared per share of common stock (in dollars per share) $ 0.46 $ 0.46 $ 0.46 $ 0.46 $ 0.46 $ 0.46 $ 0.46 $ 0.46