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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
NET INTEREST INCOME:      
Interest and Dividend Income, Operating $ 350,161 $ 694,614 $ 455,799
Interest expense 223,068 566,750 377,071
Total net interest income 127,093 127,864 78,728
NON-INTEREST (LOSS) INCOME:      
Unrealized (losses) gains, net (148,058) 32,642 (7,775)
Realized loss on de-consolidation of Consolidated K-Series (54,118) 0 0
Unrealized (losses) gains, net (160,161) 35,837 52,781
Income from equity investments 26,670 23,626 10,585
Impairment of goodwill (25,222) 0 0
Loss on extinguishment of collateralized debt obligations 0 (2,857) 0
Recovery of (provision for) loan losses 0 2,780 1,257
(Recovery of) provision for loan losses   (2,780) (1,257)
Other income 1,097 2,420 12,146
Total non-interest (loss) income (359,792) 94,448 66,480
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:      
General and administrative expenses 42,228 35,794 27,872
Operating expenses 12,335 14,041 13,598
Total general, administrative and operating expenses 54,563 49,835 41,470
(LOSS) INCOME FROM OPERATIONS BEFORE INCOME TAXES (287,262) 172,477 103,738
Income tax (benefit) expense 981 (419) (1,057)
NET (LOSS) INCOME (288,243) 172,896 104,795
Net (income) loss attributable to non-controlling interest in consolidated variable interest entities (267) 840 (1,909)
NET (LOSS) INCOME ATTRIBUTABLE TO COMPANY (288,510) 173,736 102,886
Preferred stock dividends (41,186) (28,901) (23,700)
NET (LOSS) INCOME ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS $ (329,696) $ 144,835 $ 79,186
Basic earnings per common share (in USD per share) $ (0.89) $ 0.65 $ 0.62
Diluted earnings per common share (in USD per share) $ (0.89) $ 0.64 $ 0.61
Weighted average shares outstanding-basic (in shares) 371,004 221,380 127,243
Weighted average shares outstanding-diluted (in shares) 371,004 242,596 147,450