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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Net interest income        
Interest income $ 85,230 $ 65,970 $ 163,437 $ 123,482
Interest expense 48,417 35,661 93,130 67,076
Net interest income 36,813 30,309 70,307 56,406
Provision for loan losses 300 0 3,300 0
Net interest income after provision for loan losses 36,513 30,309 67,007 56,406
Other income        
Operating lease income 24,258 22,187 48,818 41,816
Tenant recoveries 1,913 1,159 5,492 2,739
Sale of loans, net 6,144 25,904 11,032 24,905
Realized gain (loss) on securities (1,243) 7,132 (2,342) 12,494
Unrealized gain (loss) on Agency interest-only securities 110 299 313 457
Realized gain on sale of real estate, net 1,628 2,232 32,637 4,563
Fee and other income 6,477 4,574 12,728 9,039
Net result from derivative transactions 7,081 (16,022) 22,040 (18,003)
Earnings (loss) from investment in unconsolidated joint ventures 13 10 65 (63)
Gain (loss) on extinguishment of debt 0 0 (69) (54)
Total other income 46,381 47,475 130,714 77,893
Costs and expenses        
Salaries and employee benefits 13,866 14,489 30,962 30,531
Operating expenses 5,597 5,829 11,144 11,308
Real estate operating expenses 7,836 8,056 16,654 15,510
Fee expense 799 1,621 1,641 2,314
Depreciation and amortization 10,656 10,125 21,479 18,717
Total costs and expenses 38,754 40,120 81,880 78,380
Income (loss) before taxes 44,140 37,664 115,841 55,919
Income tax expense (benefit) 573 6,606 4,476 5,231
Net income (loss) 43,567 31,058 111,365 50,688
Net (income) loss attributable to noncontrolling interest in consolidated joint ventures 133 (77) (8,289) (398)
Net (income) loss attributable to noncontrolling interest in operating partnership $ (5,294) $ (8,868) $ (13,795) $ 14,706
Earnings per share:        
Basic (in dollars per share) $ 0.40 $ 0.28 $ 0.93 $ 0.47
Diluted (in dollars per share) $ 0.40 $ 0.26 $ 0.93 $ 0.45
Weighted average shares outstanding:        
Basic (in shares) 96,810,266 80,108,431 96,003,151 76,510,201
Diluted (in shares) 97,165,899 110,055,308 96,276,824 109,693,706
Class A Common Stock        
Costs and expenses        
Net income (loss) attributable to Class A common shareholders $ 38,406 $ 22,113 $ 89,281 $ 35,584
Earnings per share:        
Basic (in dollars per share) $ 0.40 $ 0.28 $ 0.93 $ 0.47
Diluted (in dollars per share) $ 0.40 $ 0.26 $ 0.93 $ 0.45
Weighted average shares outstanding:        
Basic (in shares) 96,810,266 80,108,431 96,003,151 76,510,201
Diluted (in shares) 97,165,899 110,055,308 96,276,824 109,693,706
Dividends per share of Class A common stock (Note 12) (in dollars per share) $ 0.325 $ 0.3 $ 0.64 $ 0.6