7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2016-12-31 2014-09-30 2014-06-30 2014-03-31 
      
    		                              
      assets
    		                              
      cash and cash equivalents
    		49,434,000 134,939,000 479,770,000 1,323,481,000 1,607,204,000 1,195,559,000 1,220,217,000 1,015,678,000 798,391,000 777,078,000 626,139,000 609,078,000 328,440,000 217,361,000 431,762,000 548,744,000 758,051,000 1,169,843,000 1,305,686,000 1,254,432,000 875,839,000 826,059,000 358,352,000 58,171,000 83,097,000 126,529,000 44,615,000 87,833,330 84,966,296 115,465,783 
      restricted cash
    		13,476,000 13,388,000 13,731,000 12,608,000 12,301,000 11,921,000 12,274,000 15,450,000 59,523,000 96,856,000 25,158,000 50,524,000 28,739,000 65,570,000 63,462,000 72,802,000 85,481,000 115,844,000 146,373,000 29,852,000 41,897,000 47,945,000 263,869,000 297,575,000 38,656,000 88,904,000     
      mortgage loan receivables held for investment, net, at amortized cost:
    		                              
      mortgage loans receivable
    		1,920,588,000 1,593,710,000 1,665,243,000 1,591,322,000 2,039,545,000 2,539,323,000 2,797,945,000 3,155,089,000 3,371,685,000 3,501,235,000 3,794,075,000 3,885,746,000 4,019,297,000 4,003,793,000 3,857,471,000 3,553,737,000 2,811,141,000 2,531,048,000 2,007,730,000 2,354,059,000           
      allowance for credit losses
    		-52,135,000 -52,166,000 -52,208,000 -52,323,000 -52,276,000 -54,107,000 -49,060,000 -43,165,000 -39,575,000 -32,248,000 -25,499,000 -20,755,000 -18,474,000 -16,960,000 -32,332,000 -31,752,000 -33,635,000 -35,891,000 -36,241,000 -41,507,000 -47,084,000          
      mortgage loan receivables held for sale
    		27,970,000 28,347,000 90,420,000 26,898,000 27,506,000 26,414,000 26,955,000 26,868,000 26,272,000 26,901,000 27,197,000 27,391,000 27,818,000 35,850,000 53,901,000  37,513,000 59,182,000 71,482,000 30,518,000 30,553,000 85,977,000 146,713,000 122,325,000 174,214,000 111,977,000 357,882,000 206,501,369 103,718,508 162,107,043 
      securities
    		1,940,547,000 1,966,471,000 1,476,380,000 1,080,839,000 852,783,000 481,109,000 466,763,000 485,533,000 476,698,000 458,224,000 520,008,000 587,519,000 610,545,000                  
      real estate and related lease intangibles
    		705,511,000 690,186,000 654,709,000 670,803,000 691,391,000 707,083,000 733,635,000 726,442,000 675,334,000 686,701,000 693,266,000 700,136,000 769,935,000 788,310,000 792,857,000 865,694,000 914,359,000 948,448,000 976,971,000 985,304,000 990,583,000 1,042,210,000 1,047,418,000 1,048,081,000 981,333,000 984,377,000 822,338,000    
      investments in and advances to unconsolidated ventures
    		18,489,000 18,903,000 19,191,000 19,923,000 19,991,000 20,005,000 6,862,000 6,877,000 7,032,000 6,553,000 6,336,000 6,219,000 6,006,000 5,599,000                 
      derivative instruments
    		284,000 247,000 467,000 437,000 818,000 757,000 674,000 1,454,000 1,817,000 1,853,000 1,421,000 2,038,000 2,075,000  234,000 402,000 207,000  301,000 299,000 449,000 380,000 950,000 693,000 22,000 536,000 5,018,000 5,750,654 196,009 838,922 
      accrued interest receivable
    		14,485,000 13,302,000 15,274,000 12,936,000 16,704,000 20,946,000 23,207,000 24,233,000 23,056,000 23,646,000 25,794,000 24,938,000 20,344,000 16,845,000 14,450,000 13,645,000 13,955,000 12,767,000 13,335,000 16,088,000 18,259,000 18,783,000 23,231,000 21,066,000 22,699,000 24,269,000 24,439,000 21,074,036 18,448,989 16,115,725 
      other assets
    		47,895,000 50,147,000 107,022,000 158,149,000 145,094,000 87,722,000 83,326,000 98,218,000 102,909,000 81,852,000 166,631,000 78,339,000 67,845,000 109,545,000 68,795,000 76,367,000 78,150,000 58,566,000 111,583,000 116,633,000 159,314,000 64,963,000 67,134,000 53,104,000 78,454,000 61,036,000 95,651,000 79,944,556 60,463,345 47,963,235 
      total assets
    		4,686,544,000 4,457,474,000 4,469,999,000 4,845,073,000 5,379,139,000 5,048,187,000 5,322,798,000 5,512,677,000 5,503,142,000 5,628,651,000 5,860,526,000 5,951,173,000 5,869,972,000 5,843,009,000 5,974,197,000 5,851,252,000 5,416,040,000 5,616,809,000 5,405,811,000 5,881,229,000 6,359,463,000 6,609,550,000 7,331,872,000 6,669,152,000 6,619,874,000 6,406,775,000 5,578,337,000 4,673,793,182 3,824,083,991 3,490,246,848 
      liabilities and equity
    		                              
      liabilities
    		                              
      debt obligations
    		2,997,232,000 2,783,166,000 2,769,754,000 3,135,617,000 3,585,332,000 3,378,099,000 3,667,029,000 3,783,946,000 3,793,845,000 3,958,095,000 4,082,428,000 4,245,697,000 4,237,886,000 4,206,057,000 4,343,311,000 4,219,703,000 3,765,779,000 3,975,715,000 3,767,819,000 4,209,864,000 4,714,510,000 4,953,514,000 5,681,020,000 4,859,873,000 4,860,687,000 4,613,088,000 3,942,138,000    
      dividends payable
    		31,357,000 30,921,000 30,593,000 31,838,000 31,673,000 31,206,000 30,721,000 32,294,000 31,788,000 31,289,000 30,802,000 32,000,000 31,432,000 29,705,000 26,763,000 27,591,000 27,165,000 26,955,000 26,530,000 27,537,000 26,236,000 23,583,000 38,256,000 38,696,000 2,384,000 1,860,000 24,682,000    
      accrued expenses
    		55,446,000 55,347,000 45,412,000 74,824,000 67,065,000 48,652,000 45,603,000 65,144,000 63,446,000 49,308,000 50,937,000 68,227,000 50,003,000 48,323,000 42,028,000 40,249,000 39,000,000 38,220,000 27,001,000 43,876,000 36,179,000 55,616,000 38,476,000 72,397,000 45,761,000 55,453,000 66,597,000 74,139,211 72,013,194 41,946,270 
      other liabilities
    		109,095,000 87,970,000 109,883,000 69,855,000 164,377,000 61,735,000 55,560,000 99,095,000 75,910,000 58,459,000 167,805,000 71,688,000 47,032,000 48,934,000 52,938,000 50,090,000 74,545,000 55,686,000 53,622,000 51,527,000 60,744,000 68,457,000 73,293,000 57,427,000 63,151,000 61,241,000 29,006,000 29,989,945 24,069,898 16,098,944 
      total liabilities
    		3,193,130,000 2,957,404,000 2,955,642,000 3,312,134,000 3,848,447,000 3,519,692,000 3,798,913,000 3,980,479,000 3,964,989,000 4,097,151,000 4,331,972,000 4,417,612,000 4,366,353,000 4,333,300,000 4,465,040,000 4,337,633,000 3,906,489,000 4,096,944,000 3,874,972,000 4,332,804,000 4,837,669,000 5,101,170,000 5,831,045,000 5,030,175,000 4,980,624,000 4,758,701,000 4,068,783,000 3,188,223,461 2,356,930,010 2,059,454,317 
      commitments and contingencies
    		                              
      equity
    		                              
      class a common stock
    		127,000 127,000 128,000 127,000 128,000 128,000 128,000 127,000 127,000 127,000 127,000 127,000 127,000 127,000 127,000 126,000 126,000 127,000 127,000 127,000 120,000 116,000 109,000 108,000 108,000 108,000 72,000 51,471 50,597 50,597 
      additional paid-in capital
    		1,784,005,000 1,781,307,000 1,778,311,000 1,777,118,000 1,773,452,000 1,770,275,000 1,767,128,000 1,756,750,000 1,842,208,000 1,839,003,000 1,835,957,000 1,826,833,000 1,823,036,000 1,819,298,000 1,815,661,000 1,795,249,000 1,791,947,000 1,788,875,000 1,785,350,000 1,780,074,000 1,726,339,000 1,649,170,000 1,546,143,000 1,532,384,000 1,529,599,000 1,526,469,000 992,307,000 735,410,376 720,322,279 709,372,578 
      treasury stock
    		-38,128,000 -36,584,000 -29,964,000 -30,475,000 -23,053,000 -21,852,000 -21,611,000 -12,001,000 -105,943,000 -105,738,000 -105,738,000 -95,600,000 -94,960,000 -92,302,000 -88,258,000 -76,324,000 -76,228,000 -68,593,000 -67,495,000 -62,859,000 -54,543,000 -53,619,000 -52,983,000 -42,699,000 -41,556,000 -41,535,000 -11,244,000    
      retained earnings
    		-246,686,000 -236,595,000 -224,592,000 -206,874,000 -209,197,000 -207,728,000 -210,611,000 -197,875,000 -182,637,000 -184,769,000 -183,755,000 -177,005,000 -207,434,000 -206,922,000 -214,084,000 -207,802,000 -209,821,000 -203,714,000 -188,763,000 -163,717,000 -126,965,000 -120,082,000 -94,171,000 -35,746,000 -39,860,000 -30,847,000  39,813,107 25,157,129 12,652,341 
      accumulated other comprehensive income
    		-3,339,000 -5,639,000 -7,215,000 -4,866,000 -8,711,000 -10,752,000 -9,820,000 -13,853,000 -14,879,000 -16,524,000 -17,524,000 -21,009,000 -18,811,000 -17,855,000 -10,753,000 -4,112,000 -3,084,000 -2,211,000 -3,614,000 -10,463,000 -28,448,000 -45,080,000 -65,920,000 4,218,000 10,367,000 12,171,000 1,365,000    
      total shareholders’ equity
    		1,495,979,000 1,502,616,000 1,516,668,000 1,535,030,000 1,532,619,000 1,530,071,000 1,525,214,000 1,533,148,000 1,538,876,000 1,532,099,000 1,529,067,000 1,533,346,000 1,501,958,000 1,502,346,000 1,502,693,000 1,507,137,000 1,502,940,000 1,514,484,000 1,525,605,000 1,543,162,000 1,516,503,000 1,430,510,000 1,333,190,000 1,458,277,000 1,458,670,000 1,466,378,000 971,390,000 773,231,509 750,554,255 720,435,712 
      noncontrolling interests in consolidated ventures
    		-2,565,000 -2,546,000 -2,311,000 -2,091,000 -1,927,000 -1,576,000 -1,329,000 -950,000 -723,000 -599,000 -513,000 215,000 1,661,000 7,363,000                 
      total equity
    		1,493,414,000 1,500,070,000 1,514,357,000 1,532,939,000 1,530,692,000 1,528,495,000 1,523,885,000 1,532,198,000 1,538,153,000 1,531,500,000 1,528,554,000 1,533,561,000 1,503,619,000 1,509,709,000 1,509,157,000 1,513,619,000 1,509,551,000 1,519,865,000 1,530,839,000 1,548,425,000 1,521,794,000 1,508,380,000 1,500,827,000 1,638,977,000 1,639,250,000 1,648,074,000 1,509,554,000 1,485,569,721 1,467,153,981 1,430,792,531 
      total liabilities and equity
    		4,686,544,000 4,457,474,000 4,469,999,000 4,845,073,000 5,379,139,000 5,048,187,000 5,322,798,000 5,512,677,000 5,503,142,000 5,628,651,000 5,860,526,000 5,951,173,000 5,869,972,000 5,843,009,000 5,974,197,000 5,851,252,000 5,416,040,000 5,616,809,000 5,405,811,000 5,881,229,000 6,359,463,000 6,609,550,000 7,331,872,000 6,669,152,000 6,619,874,000 6,406,775,000 5,578,337,000 4,673,793,182 3,824,083,991 3,490,246,848 
      real estate held for sale
    		    18,078,000 11,455,000       7,402,000  55,412,000 25,179,000             19,028,992  
      real estate securities
    		             617,096,000 662,942,000 703,280,000 724,737,000 719,183,000 764,083,000 1,058,298,000 1,447,625,000 1,506,713,000 1,930,605,000 1,721,305,000 1,911,456,000 1,788,415,000     
      investments in and advances to unconsolidated joint ventures
    		              5,243,000 23,154,000 26,081,000 37,819,000 44,508,000 46,253,000 49,155,000 48,919,000 48,659,000 48,433,000 51,419,000 57,751,000     
      noncontrolling interests in consolidated joint ventures
    		              6,464,000 6,482,000 6,611,000 5,381,000             
      noncontrolling interest in consolidated joint ventures
    		                  5,234,000 5,263,000 5,291,000 6,902,000 7,171,000 8,646,000 8,849,000 9,230,000 4,918,000 7,617,577 7,473,357 8,352,239 
      fhlb stock
    		                   31,000,000 61,619,000 61,619,000 61,619,000 61,619,000 61,619,000 61,619,000 77,915,000 59,740,000 57,240,000 50,400,000 
      class b common stock
    		                     5,000 12,000 12,000 12,000 12,000 38,000    
      noncontrolling interest in operating partnership
    		                     70,968,000 160,466,000 172,054,000 171,731,000 172,466,000 533,246,000 704,720,635 709,126,369 702,004,580 
      mortgage loans held by consolidated subsidiaries
    		                    2,731,254,000 2,955,084,000  3,257,036,000 3,231,443,000 3,119,857,000     
      allowance for loan losses
    		                     -49,102,000  -20,500,000       
      mortgage loan receivables held for investment, net, at amortized cost
    		                      3,383,322,000    1,996,095,000 1,323,279,126 1,026,118,013 674,980,076 
      due from brokers
    		                       244,000 3,962,000 5,000 10,000 4,276 33,435,077 28,676,406 
      due to brokers
    		                       223,000 7,000,000 25,500,000 394,000  16,865,739 30,090,186 
      amount payable pursuant to tax receivable agreement
    		                       1,559,000 1,559,000 1,559,000 2,520,000 672,235   
      benefit from loan losses
    		                        -18,500,000 -18,500,000     
      cash collateral held by broker
    		                          19,402,000 54,524,990 37,995,922 32,595,226 
      real estate securities, available-for-sale
    		                          2,100,947,000    
      investments in unconsolidated joint ventures
    		                          34,025,000 5,938,241 5,836,776 7,311,247 
      retained earnings/
    		                          -11,148,000    
      real estate securities, available-for-sale:
    		                              
      investment grade commercial mortgage backed securities
    		                           1,652,052,327 1,239,296,993 1,247,477,206 
      gn construction securities
    		                           23,004,029 20,277,121 16,304,540 
      gn permanent securities
    		                           39,312,154 99,917,460 105,249,603 
      interest-only securities
    		                           462,246,662 474,996,698 381,009,103 
      real estate
    		                           652,587,432 542,147,792 603,752,733 
      liabilities and capital
    		                              
      repurchase agreements
    		                           761,627,218 685,693,352 370,970,039 
      mortgage loan financing
    		                           398,265,284   
      borrowings from the fhlb
    		                           1,291,000,000 903,000,000 933,000,000 
      senior unsecured notes
    		                           625,000,000 325,000,000 325,000,000 
      series a preferred units
    		                              
      series b preferred units
    		                              
      common units
    		                              
      accumulated other comprehensive income/
    		                            5,024,250  
      long-term financing
    		                            314,554,965 331,936,919 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.