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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Interest income from investments $ 5,553 $ 10,216 $ 20,117 $ 27,578
Total revenues 11,878 12,249 35,242 32,965
Costs and expenses:        
General and administrative expenses 2,592 2,137 8,817 6,273
Fees to Manager 0 2,131 1,230 6,203
Property operating expenses of real estate owned 3,781 989 8,454 2,538
Depreciation and amortization of real estate owned 5,414 1,372 13,319 3,491
Goodwill impairment loss 0 0 4,738 0
Total costs and expenses 16,828 6,897 79,387 18,773
Operating income (loss) (4,950) 5,352 (44,145) 14,192
Other income (expense):        
Equity in earnings (losses) from unconsolidated real estate venture (2,041) 165 (2,195) 407
Net unrealized gain (loss) on investments 4,540 7,974 (5,630) 28,847
Interest expense (3,196) (2,546) (9,475) (5,535)
Other interest income 16 9 38 30
Total other income (loss) (681) 5,602 (17,262) 23,749
Net income (loss) (5,631) 10,954 (61,407) 37,941
Net income attributable to preferred stockholders (5,309) (5,157) (15,760) (15,283)
Less: Net loss attributable to non-controlling interests 1,005 0 3,604 0
Net income (loss) attributable to common stockholders $ (9,935) $ 5,797 $ (73,563) $ 22,658
Basic earnings (loss) per share attributable to common stockholders $ (0.43) $ 0.26 $ (3.20) $ 1.06
Diluted earnings (loss) per share attributable to common stockholders (0.43) 0.26 (3.20) 1.06
Dividends declared per share of common stock $ 0 $ 0.35 $ 0.46 $ 1.05
Rental and other property-related income from real estate owned [Member]        
Revenues:        
Revenues $ 6,287 $ 1,988 $ 14,982 $ 5,075
Other revenues [Member]        
Revenues:        
Revenues 38 45 143 312
Internalization Expenses [Member]        
Costs and expenses:        
Other expenses 10 268 37,798 268
Merger Expenses [Member]        
Costs and expenses:        
Other expenses $ 5,031 $ 0 $ 5,031 $ 0