XML 12 R2.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
ASSETS    
Investment securities, available for sale, at fair value $ 1,743,869 $ 1,512,252
Investments in unconsolidated entities 166,148 73,466
Preferred equity and mezzanine loan investments 191,387 165,555
Multi-family loans held in securitization trusts, at fair value 14,573,925 11,679,847
Derivative assets 14,047 10,263
Cash and cash equivalents 134,993 103,724
Real estate held for sale in consolidated variable interest entities 0 29,704
Goodwill 25,222 25,222
Receivables and other assets 135,845 114,821
Total Assets [1] 18,265,484 14,737,638
Liabilities:    
Repurchase agreements 1,843,815 1,543,577
Convertible notes 131,839 130,762
Subordinated debentures 45,000 45,000
Mortgages and notes payable in consolidated variable interest entities 3,986 31,227
Securitized debt 0 42,335
Accrued expenses and other liabilities 134,615 101,228
Total Liabilities [1] 16,737,802 13,557,345
Commitments and Contingencies
Stockholders' Equity:    
Common stock, $0.01 par value, 400,000,000 shares authorized, 210,872,614 and 155,589,528 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively 2,109 1,556
Additional paid-in capital 1,337,330 1,013,391
Accumulated other comprehensive income (loss) 11,004 (22,135)
Accumulated deficit (128,207) (103,178)
Company's stockholders' equity 1,528,078 1,179,389
Non-controlling interest in consolidated variable interest entities (396) 904
Total equity 1,527,682 1,180,293
Total Liabilities and Stockholders' Equity 18,265,484 14,737,638
Series B Preferred Stock    
Stockholders' Equity:    
Preferred stock 74,854 72,397
Series C Preferred Stock    
Stockholders' Equity:    
Preferred stock 96,486 86,862
Series D Preferred Stock    
Stockholders' Equity:    
Preferred stock 134,502 130,496
Repurchase agreements    
Liabilities:    
Repurchase agreements 2,604,356 2,131,505
Residential collateralized debt obligations    
Liabilities:    
Collateralized debt obligations 45,280 53,040
Multi-family collateralized debt obligations, at fair value    
Liabilities:    
Collateralized debt obligations 13,772,726 11,022,248
Distressed and other residential mortgage loans (including pledged securities)    
ASSETS    
Residential mortgage loans, net 1,061,954 737,523
Residential mortgage loans held in securitization trusts, net    
ASSETS    
Residential mortgage loans, net $ 218,094 $ 285,261
[1]
Our condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company is the primary beneficiary of these VIEs. As of June 30, 2019 and December 31, 2018, assets of consolidated VIEs totaled $14,691,481 and $11,984,374, respectively, and the liabilities of consolidated VIEs totaled $13,870,064 and $11,191,736, respectively. See Note 9 for further discussion.