| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||
Net Income (Loss) | ||||||
126,313 | 106,941 | 94,352 | 69,967 | 59,355 | ||
Adjustment to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities: | ||||||
Amortization and Accretion of Premiums, Discounts and Loan Origination Fees, net | ||||||
16,331 | 15,915 | 19,477 | 8,439 | -14,042 | ||
Amortization of Deferred Financing Costs | ||||||
19,040 | 17,157 | 11,788 | 9,425 | 6,500 | ||
Capitalized Accrued Interest | ||||||
- | - | 5,517 | 13,434 | -22,373 | ||
Loss (Gain) on Sales of Loans Held for Investment and CRE Debt Securities Securities, net | ||||||
-278 | -524 | 185 | - | - | ||
Stock Compensation Expense | ||||||
2,556 | 665 | 33 | - | - | ||
Cash Flows Due to Changes in Operating Assets and Liabilities: | ||||||
Accounts Receivable | ||||||
2,306 | -103 | -503 | -4,213 | -9,432 | ||
Accrued Interest Receivable | ||||||
6,549 | 5,270 | 3,056 | 1,813 | -27,155 | ||
Accrued Expenses | ||||||
-4,678 | 1,626 | -1,843 | -182 | -2,128 | ||
Accrued Interest Payable | ||||||
519 | 761 | 2,478 | 984 | 500 | ||
Payable to Affiliates | ||||||
3,524 | 769 | 1,272 | -2,243 | 6,126 | ||
Deferred Fee Income | ||||||
-299 | 146 | -165 | 482 | - | ||
Other Assets | ||||||
402 | -190 | 44 | 94 | - | ||
Net Cash Provided by Operating Activities | ||||||
121,665 | 107,697 | 91,173 | 85,734 | 98,609 | ||
Origination of Loans Held for Investment | ||||||
2,341,692 | 2,071,391 | 1,596,531 | 535,185 | 535,357 | ||
Purchased Accrued Interest | ||||||
- | - | - | - | 10,815 | ||
Purchase of Loans Held for Investment | ||||||
- | - | - | 412,921 | - | ||
Advances on Loans Held for Investment | ||||||
268,356 | 258,308 | 313,160 | 318,998 | 303,584 | ||
Principal Advances Held by Servicer/Trustee | ||||||
- | - | -496 | - | 3,458 | ||
Principal Repayments of Loans Held for Investment | ||||||
1,961,906 | 1,131,294 | 1,164,052 | 781,049 | 718,111 | ||
Proceeds from Sales of Loans Held for Investment | ||||||
59,759 | 2,174 | 65,054 | - | - | ||
Purchase of Available-for-Sale CRE Debt Securities | ||||||
815,037 | 143,503 | 96,294 | - | - | ||
Purchase of Commercial Mortgage-Backed Securities | ||||||
- | - | - | 59,509 | 1,300 | ||
Sales and Principal Repayments of Available-for-Sale CRE Debt Securities | ||||||
94,790 | 146,869 | 73,912 | 1,173 | - | ||
Purchases and Disposals of Fixed Assets | ||||||
- | - | 111 | 500 | - | ||
Net Cash Used in Investing Activities | ||||||
-1,308,630 | -1,192,865 | -702,582 | -544,891 | -114,773 | ||
Payments on Collateralized Loan Obligations | ||||||
732,103 | 13,800 | 559,574 | 539,542 | 508,746 | ||
Proceeds from Collateralized Loan Obligations | ||||||
1,039,627 | 1,541,037 | 16,254 | 80,083 | 155,946 | ||
Payments on Secured Financing Agreements - Loan Investments | ||||||
3,823,037 | 2,544,583 | 797,018 | 369,870 | - | ||
Payment of Deferred Financing Costs | ||||||
16,154 | 29,279 | 8,699 | 7,426 | 6,808 | ||
Payments to Repurchase Common Stock | ||||||
42 | 8,842 | 13,851 | - | 55,574 | ||
Proceeds from Issuance of Preferred Stock | ||||||
125 | - | - | - | - | ||
Proceeds from Issuance of Common Stock | ||||||
174,549 | 139,440 | 243,654 | 245,453 | - | ||
Payment of Equity Issuance and Shelf Registration Statement Transaction Costs | ||||||
1,246 | 1,074 | - | - | - | ||
Net Cash Provided by Financing Activities | ||||||
1,225,911 | 1,050,151 | 583,171 | 457,181 | 110,451 | ||
Net Change in Cash, Cash Equivalents, and Restricted Cash | ||||||
38,946 | -35,017 | -28,238 | -1,976 | 94,287 | ||
Supplemental Disclosure of Cash Flow Information: | ||||||
Interest Paid | ||||||
155,282 | 108,106 | 64,003 | 51,269 | 38,966 | ||
Taxes Paid (Refund) | ||||||
- | - | - | -5 | 3,199 | ||
Taxes Paid | ||||||
394 | 341 | 142 | - | - | ||
Supplemental Disclosure of Non-Cash Investing and Financing Activities: | ||||||
Principal Repayments of Loans Held for Investment by Servicer/Trustee, net | ||||||
12,950 | 94,633 | 220 | 25,887 | 58,556 | ||
Principal Repayments of Available-for-Sale CRE Debt Securities Held by Servicer/Trustee, net | ||||||
- | 213 | - | - | - | ||
Proceeds from Secured Financing Agreements Held by Trustee | ||||||
- | - | - | 8,856 | - | ||
Accrued Equity Issuance and Transaction Costs | ||||||
- | - | 312 | - | - | ||
Change in Accrued Deferred Financing Costs | ||||||
5,411 | 2,926 | 1,054 | 2,953 | - | ||
Unrealized Gain (Loss) on Available-for-Sale CRE Debt Securities | ||||||
3,036 | -1,951 | -1,284 | - | - | ||
Accrued Common Stock Repurchase Costs | ||||||
- | 95 | 239 | - | - | ||
Accrued Other Assets Costs | ||||||
- | - | - | 110 | - | ||
Loans Investment | ||||||
Proceeds from Secured Financing Agreements - Loan Investments | ||||||
4,708,802 | 2,070,584 | 1,789,394 | 1,117,069 | 376,857 | ||
Preferred Class A | ||||||
Payments to Redeem Series A Preferred Stock | ||||||
- | 125 | - | - | - | ||
Dividends paid | ||||||
15 | 3 | 16 | 20 | - | ||
Class A Common Stock | ||||||
Proceeds from Issuance of Common Stock | ||||||
- | - | 365 | 4,547 | - | ||
Dividends paid | ||||||
1,964 | 1,921 | 1,803 | 1,875 | - | ||
Common Stock, Undefined Class | ||||||
Dividends paid | ||||||
122,631 | 101,283 | 78,475 | 71,238 | - | ||
Initial Public Offering | ||||||
Payment of Initial Public Offering Transaction Costs | ||||||
- | - | 7,060 | - | - | ||
Commercial Mortgage-Backed Securities | ||||||
Unrealized (Loss) Gain on Commercial Mortgage-Backed Securities, Available-for-Sale | ||||||
- | - | - | 1,250 | - | ||