| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Net interest income: | |||||||||
Interest income from securities, held to maturity | |||||||||
- | - | - | - | 12,054 | 4,613 | 0 | 0 | - | - |
Interest income from commercial mortgage loans | |||||||||
- | - | - | - | - | - | - | - | - | 7,035 |
Interest income from commercial mortgage loans | |||||||||
322,475 | 263,709 | 158,632 | 102,927 | 56,092 | 27,802 | 16,034 | 10,780 | 9,153 | 7,338 |
Interest income from subordinate loans and other lending assets | |||||||||
164,933 | 140,180 | 179,889 | 122,394 | 90,830 | 69,743 | 49,162 | 24,666 | 13,678 | - |
Interest income from securities | |||||||||
- | - | - | 39,055 | 33,188 | 21,189 | 12,267 | 15,347 | 25,323 | 18,112 |
Interest income from repurchase agreements | |||||||||
- | - | - | - | - | - | - | 6,286 | 4,764 | - |
Interest expense | |||||||||
152,926 | 114,597 | 78,057 | 63,759 | 48,861 | 26,541 | 4,356 | 8,402 | 14,454 | 10,714 |
Net interest income | |||||||||
334,482 | 289,292 | 260,464 | 200,617 | 143,303 | 96,806 | 73,107 | 48,677 | 38,464 | 21,771 |
Operating expenses: | |||||||||
General and administrative expenses (includes equity-based compensation of $4,263 and $3,901 in 2020 and 2019, respectively) | |||||||||
24,097 | 20,470 | 20,725 | 24,983 | 9,492 | 6,151 | 7,563 | 8,543 | 5,652 | 5,556 |
Management fees to related party | |||||||||
40,734 | 36,424 | 31,652 | 23,388 | 16,619 | 11,960 | 10,012 | 6,139 | 4,728 | 3,339 |
Total operating expenses | |||||||||
64,831 | 56,894 | 52,377 | 48,371 | 26,111 | 18,111 | 17,575 | 14,682 | 10,380 | 8,895 |
Loss from unconsolidated joint venture | |||||||||
0 | 0 | -2,847 | -96 | 3,464 | -157 | 0 | 0 | - | - |
Other income | |||||||||
2,113 | 1,438 | 940 | 1,094 | 1,239 | 34 | 20 | 7 | 13 | - |
Provision for loan losses(1) | |||||||||
20,000 | 20,000 | 5,000 | 15,000 | 0 | 0 | - | - | - | - |
Realized loss on investments | |||||||||
12,513 | 0 | 42,693 | -3,834 | -443 | 0 | 0 | 262 | 0 | -33 |
Unrealized gain on securities | |||||||||
0 | 0 | 37,165 | -26,099 | -17,408 | 4,147 | -3,065 | 6,489 | 481 | -1,766 |
Interest income from cash balances | |||||||||
- | - | - | - | - | - | - | - | - | 16 |
Foreign currency gain (loss) | |||||||||
19,818 | -30,335 | 18,506 | -29,284 | -4,894 | -4,050 | 0 | - | - | - |
Bargain purchase gain | |||||||||
- | - | - | 40,021 | 0 | 0 | - | - | - | - |
Loss on early extinguishment of debt | |||||||||
0 | -2,573 | -1,947 | 0 | 0 | - | - | - | - | - |
Gain (Loss) on Derivative Instruments, Net, Pretax | |||||||||
-14,425 | 39,058 | -19,180 | 31,160 | 4,106 | 4,070 | -2 | -572 | -2,696 | -94 |
Unrealized loss on interest rate swap | |||||||||
-14,470 | 0 | 0 | - | - | - | - | - | - | - |
Net income (loss) | |||||||||
230,174 | 219,986 | 193,031 | 157,876 | 103,256 | 82,739 | 52,485 | 40,181 | 25,882 | 10,999 |
Preferred dividends | |||||||||
18,525 | 27,340 | 36,761 | 30,295 | 11,884 | 7,440 | 7,440 | 3,079 | 0 | - |
Net income (loss) available to common stockholders | |||||||||
211,649 | 192,646 | 156,270 | 127,581 | 91,372 | 75,299 | 45,045 | 37,102 | 25,882 | 10,999 |
Earnings Per Share [Abstract] | |||||||||
Net income per share of common stock (in dollars per share) | |||||||||
- | - | - | - | 1.54 | 1.72 | 1.26 | 1.64 | 1.35 | 0.87 |
Basic (in dollars per share) | |||||||||
1.41 | 1.52 | 1.54 | 1.74 | - | - | - | - | - | - |
Diluted (in dollars per share) | |||||||||
1.40 | 1.48 | 1.54 | 1.74 | - | - | - | - | - | - |
Basic weighted-average shares of common stock outstanding (in shares) | |||||||||
146,881 | 124,147 | 99,859 | 72,371 | 58,674 | 43,464 | 35,212 | 22,259 | 18,840 | - |
Diluted weighted-average shares of common stock outstanding (in shares) | |||||||||
175,794 | 153,821 | 101,232 | 73,305 | 59,273 | 43,684 | 35,679 | 22,648 | 19,089 | - |
Basic and diluted weighted average shares of common stock outstanding | |||||||||
- | - | - | - | - | - | - | - | - | 12,679 |