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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
NET INTEREST INCOME:      
Interest income $ 258,660 $ 258,388 $ 206,866
Interest expense 192,134 129,419 79,284
Total net interest income 66,526 128,969 127,582
NET LOSS FROM REAL ESTATE:      
Rental income 141,057 126,293 14,303
Other real estate income 30,717 15,363 927
Total income from real estate 171,774 141,656 15,230
Interest expense, mortgages payable on real estate 90,221 56,011 3,964
Depreciation and amortization 24,620 126,824 19,250
Other real estate expenses 88,235 72,400 9,599
Total expenses related to real estate 203,076 255,235 32,813
Total net loss from real estate (31,302) (113,579) (17,583)
OTHER (LOSS) INCOME:      
Realized (losses) gains, net (27,059) 26,625 21,451
Unrealized gains (losses), net 97,196 (347,363) 95,649
(Losses) gains on derivative instruments, net (26,378) 27,206 0
Income from equity investments 17,785 15,074 33,896
Impairment of real estate (89,548) (2,449) 0
Loss on reclassification of disposal group (16,163) 0 0
Other income 4,736 18,738 5,515
Total other (loss) income (39,431) (262,169) 156,511
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:      
General and administrative expenses 49,565 52,440 48,908
Portfolio operating expenses 23,952 40,888 26,668
Total general, administrative and operating expenses 73,517 93,328 75,576
(LOSS) INCOME FROM OPERATIONS BEFORE INCOME TAXES (77,724) (340,107) 190,934
Income tax expense 75 542 2,458
NET (LOSS) INCOME (77,799) (340,649) 188,476
Net loss attributable to non-controlling interests 29,134 42,044 4,724
NET (LOSS) INCOME ATTRIBUTABLE TO COMPANY (48,665) (298,605) 193,200
Preferred stock dividends (41,837) (41,972) (42,859)
Gain on repurchase of preferred stock 467 0 0
Preferred stock redemption charge 0 0 (6,165)
NET (LOSS) INCOME ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS (90,035) (340,577) 144,176
NET (LOSS) INCOME ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS $ (90,035) $ (340,577) $ 144,176
Basic (loss) earnings per common share (in dollars per share) $ (0.99) $ (3.61) $ 1.52
Diluted (loss) earnings per common share (in USD per share) $ (0.99) $ (3.61) $ 1.51
Weighted average shares outstanding-basic (in shares) 91,042 94,322 94,808
Weighted average shares outstanding-diluted (in shares) 91,042 94,322 95,242