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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands | Total | Preferred Stock Series B Preferred Stock | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income
--- | --- | --- | --- | --- | --- | ---
Balance (in shares) at Dec. 31, 2016 |  |  | 8,000 | 371,854 |  |  |
Beginning balance at Dec. 31, 2016 |  | $ 3,033,902 | $ 80 | $ 3,719 | $ 3,029,062 | $ (572,641) | $ 573,682
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |
Net income |  | 322,393 |  |  |  | 322,393 |
Issuance of common stock, net of expenses (in shares) |  |  |  | 26,722 |  |  |
Issuance of common stock, net of expenses |  | 196,808 |  | $ 259 | 196,549 |  |
Repurchase of shares of common stock (in shares) | [1] |  |  | (745) |  |  |
Repurchase of shares of common stock | [1] | (5,995) |  | $ 0 | (5,995) |  |
Equity based compensation expense |  | 7,872 |  |  | 7,872 |  |
Accrued dividends attributable to stock-based awards |  | (184) |  |  | (184) |  |
Dividends declared on common stock ($0.80 per share) |  | (312,810) |  |  |  | (312,810) |
Dividends declared on preferred stock ($1.875 per share) |  | (15,000) |  |  |  | (15,000) |
Dividends attributable to dividend equivalents |  | (892) |  |  |  | (892) |
Change in unrealized losses on MBS, net |  | 245 |  |  |  |  | 245
Derivative hedging instruments fair value changes, net |  | 35,297 |  |  |  |  | 35,297
Balance (in shares) at Dec. 31, 2017 |  |  | 8,000 | 397,831 |  |  |
Ending balance at Dec. 31, 2017 |  | 3,261,636 | $ 80 | $ 3,978 | 3,227,304 | (578,950) | 609,224
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |
Net income |  | 301,801 |  |  |  | 301,801 |
Issuance of common stock, net of expenses (in shares) |  |  |  | 52,420 |  |  |
Issuance of common stock, net of expenses |  | 392,145 |  | $ 520 | 391,625 |  |
Repurchase of shares of common stock (in shares) | [1] |  |  | (464) |  |  |
Repurchase of shares of common stock | [1] | (3,392) |  |  | (3,392) |  |
Equity based compensation expense |  | 7,999 |  |  | 7,999 |  |
Accrued dividends attributable to stock-based awards |  | (261) |  |  | (261) |  |
Dividends declared on common stock ($0.80 per share) |  | (339,244) |  |  |  | (339,244) |
Dividends declared on preferred stock ($1.875 per share) |  | (15,000) |  |  |  | (15,000) |
Dividends attributable to dividend equivalents |  | (942) |  |  |  | (942) |
Change in unrealized losses on MBS, net |  | (203,481) |  |  |  |  | (203,481)
Derivative hedging instruments fair value changes, net |  | 14,545 |  |  |  |  | 14,545
Balance (in shares) at Dec. 31, 2018 |  |  | 8,000 | 449,787 |  |  |
Ending balance at Dec. 31, 2018 |  | 3,416,101 | $ 80 | $ 4,498 | 3,623,275 | (632,040) | 420,288
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |
Net income |  | 378,117 |  |  |  | 378,117 |
Issuance of common stock, net of expenses (in shares) |  |  |  | 3,145 |  |  |
Issuance of common stock, net of expenses |  | 12,325 |  | $ 26 | 12,299 |  |
Repurchase of shares of common stock (in shares) | [1] |  |  | (563) |  |  |
Repurchase of shares of common stock | [1] | (4,118) |  |  | (4,118) |  |
Equity based compensation expense |  | 9,230 |  |  | 9,230 |  |
Accrued dividends attributable to stock-based awards |  | (345) |  |  | (345) |  |
Dividends declared on common stock ($0.80 per share) |  | (361,033) |  |  |  | (361,033) |
Dividends declared on preferred stock ($1.875 per share) |  | (15,000) |  |  |  | (15,000) |
Dividends attributable to dividend equivalents |  | (1,084) |  |  |  | (1,084) |
Change in unrealized losses on MBS, net |  | (24,445) |  |  |  |  | (24,445)
Derivative hedging instruments fair value changes, net |  | (25,796) |  |  |  |  | (25,796)
Balance (in shares) at Dec. 31, 2019 |  |  | 8,000 | 452,369 |  |  |
Ending balance at Dec. 31, 2019 |  | $ 3,383,952 | $ 80 | $ 4,524 | $ 3,640,341 | $ (631,040) | $ 370,047
[1] | For the year ended December 31, 2019, includes approximately $4.1 million (562,815 shares) surrendered for tax purposes related to equity-based compensation awards. For the year ended December 31, 2018, includes approximately $3.4 million (464,429 shares) surrendered for tax purposes related to equity-based compensation awards. For the year ended December 31, 2017, includes approximately $6.0 million (744,588 shares) surrendered for tax purposes related to equity-based compensation awards.

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