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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Net interest income    
Interest income $ 57,512 $ 59,601
Interest expense 31,415 29,536
Net interest income 26,097 30,065
Provision for loan losses 0 150
Net interest income after provision for loan losses 26,097 29,915
Other income    
Operating lease income 19,630 19,294
Tenant recoveries 1,579 1,335
Sale of loans, net (999) 7,830
Realized gain (loss) on securities 5,361 (573)
Unrealized gain (loss) on Agency interest-only securities 159 660
Realized gain on sale of real estate, net 2,331 6,095
Fee and other income 4,466 2,975
Net result from derivative transactions (1,981) (50,862)
Earnings (loss) from investment in unconsolidated joint ventures (74) 794
Gain (loss) on extinguishment of debt (54) 5,382
Total other income 30,418 (7,070)
Costs and expenses    
Salaries and employee benefits 16,042 12,615
Operating expenses 5,479 6,295
Real estate operating expenses 7,473 5,719
Real estate acquisition costs (19) 0
Fee expense 693 731
Depreciation and amortization 8,592 9,802
Total costs and expenses 38,260 35,162
Income (loss) before taxes 18,255 (12,317)
Income tax expense (benefit) (1,375) (873)
Net income (loss) 19,630 (11,444)
Net (income) loss attributable to noncontrolling interest in consolidated joint ventures (322) 232
Net (income) loss attributable to noncontrolling interest in operating partnership $ (5,838) $ 5,673
Earnings per share:    
Basic (in dollars per share) $ 0.18 $ (0.09)
Diluted (in dollars per share) $ 0.18 $ (0.09)
Weighted average shares outstanding:    
Basic (in shares) 72,871,990 59,596,889
Diluted (in shares) 109,334,847 59,596,889
Class A Common Stock    
Costs and expenses    
Net income (loss) attributable to Class A common shareholders $ 13,470 $ (5,539)
Earnings per share:    
Basic (in dollars per share) $ 0.18 $ (0.09)
Diluted (in dollars per share) $ 0.18 $ (0.09)
Weighted average shares outstanding:    
Basic (in shares) 72,871,990 59,596,889
Diluted (in shares) 109,334,847 59,596,889
Dividends per share of Class A common stock (in dollars per share) $ 0.300 $ 0.275