2016 Q2 Form 10-Q Financial Statement

#000156252816000025 Filed on August 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $14.83M $9.961M
YoY Change 48.87% 422.06%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $5.300M $5.658M
YoY Change -6.33% 331.91%
Operating Profit
YoY Change
Interest Expense $5.393M $2.523M
YoY Change 113.75% 3453.52%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.303M
YoY Change 619.57%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $8.860M $4.303M
YoY Change 105.9% 635.56%
Net Earnings / Revenue 59.75% 43.2%
Basic Earnings Per Share $0.28 $0.20
Diluted Earnings Per Share $0.28 $0.20
COMMON SHARES
Basic Shares Outstanding 31.80M shares 22.04M shares
Diluted Shares Outstanding 31.81M shares 22.04M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $63.65M $5.445M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.331B $906.7M
YoY Change 46.81% 468.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $693.5M $391.2M
YoY Change 77.28% 1078.99%
SHAREHOLDERS EQUITY
Retained Earnings -$49.54M -$21.41M
YoY Change 131.33% 600.11%
Common Stock $314.0K $244.0K
YoY Change 28.69% 309.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $637.6M $515.5M
YoY Change
Total Liabilities & Shareholders Equity $1.331B $906.7M
YoY Change 46.81% 468.25%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $8.860M $4.303M
YoY Change 105.9% 635.56%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q4 arct Organizationaland Offering Costs Amount Exceeding Offering Proceeds
OrganizationalandOfferingCostsAmountExceedingOfferingProceeds
800000 USD
CY2016Q2 arct Organizationaland Offering Costs Amount Exceeding Offering Proceeds
OrganizationalandOfferingCostsAmountExceedingOfferingProceeds
800000 USD
arct Initial Risk Ratingof Loans
InitialRiskRatingofLoans
2.0 rating
CY2015 arct Intentional Maximum Sale Of Stock
IntentionalMaximumSaleOfStock
80000000.0 USD
CY2015Q4 arct Loans Receivable Gross Credit Loans
LoansReceivableGrossCreditLoans
221014000 USD
arct Mortgage Loanson Real Estate Amortizationof Premiumand Discount Accretion
MortgageLoansonRealEstateAmortizationofPremiumandDiscountAccretion
-506000 USD
arct Mortgage Loanson Real Estate Amortizationof Premiumand Discount Accretion
MortgageLoansonRealEstateAmortizationofPremiumandDiscountAccretion
-1124000 USD
CY2015 arct Numberof Mezzanine Loans Funded
NumberofMezzanineLoansFunded
77 loan
arct Numberof Mezzanine Loans Funded
NumberofMezzanineLoansFunded
75 loan
CY2016Q2 arct Loans Receivable Gross Credit Loans
LoansReceivableGrossCreditLoans
205098000 USD
arct Minimum Distribution Percentageto Qualifyfor Reit Taxation Status
MinimumDistributionPercentagetoQualifyforREITTaxationStatus
0.9
CY2016Q2 arct Convertible Shares Value Issued
ConvertibleSharesValueIssued
1000 USD
CY2015Q4 arct Convertible Stock Paror Stated Value Per Share
ConvertibleStockParorStatedValuePerShare
0.01
CY2016Q2 arct Convertible Stock Paror Stated Value Per Share
ConvertibleStockParorStatedValuePerShare
0.01
CY2015Q4 arct Convertible Stock Shares Authorized
ConvertibleStockSharesAuthorized
1000 shares
CY2016Q2 arct Convertible Stock Shares Authorized
ConvertibleStockSharesAuthorized
1000 shares
CY2015Q4 arct Convertible Stock Shares Issued
ConvertibleStockSharesIssued
1000 shares
CY2016Q2 arct Convertible Stock Shares Issued
ConvertibleStockSharesIssued
1000 shares
CY2015Q4 arct Convertible Stock Shares Outstanding
ConvertibleStockSharesOutstanding
1000 shares
CY2016Q2 arct Convertible Stock Shares Outstanding
ConvertibleStockSharesOutstanding
1000 shares
arct Distribution Percentage Requiredto Avoid Paying Federal Income Taxes
DistributionPercentageRequiredtoAvoidPayingFederalIncomeTaxes
1
arct Amount Receivablefor Common Stock Issued
AmountReceivableforCommonStockIssued
1756000 USD
arct Amount Receivablefor Common Stock Issued
AmountReceivableforCommonStockIssued
0 USD
CY2013Q2 arct Common Stock Dividends Per Share Per Day Declared
CommonStockDividendsPerSharePerDayDeclared
0.00565068493
CY2016Q1 arct Common Stock Dividends Per Share Per Day If Leap Year Declared
CommonStockDividendsPerSharePerDayIfLeapYearDeclared
0.0056352459
arct Common Stock Issued Dividend Reinvestment Investment Plan
CommonStockIssuedDividendReinvestmentInvestmentPlan
7974000 USD
arct Common Stock Issued Dividend Reinvestment Investment Plan
CommonStockIssuedDividendReinvestmentInvestmentPlan
12950000 USD
CY2015Q4 arct Common Stock Net Asset Value Per Share
CommonStockNetAssetValuePerShare
25.27
CY2014Q4 arct Convertible Common Stock Quotient
ConvertibleCommonStockQuotient
0.15
CY2015Q4 arct Convertible Shares Value Issued
ConvertibleSharesValueIssued
1000 USD
arct Organizationaland Offering Costs Maximum Excluding Commissionsand Dealer Manager Fees
OrganizationalandOfferingCostsMaximumExcludingCommissionsandDealerManagerFees
0.02
arct Paymentsfrom Securities Purchasedunder Agreementsto Resell Loans Receivable
PaymentsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable
13857000 USD
arct Paymentsfrom Securities Purchasedunder Agreementsto Resell Loans Receivable
PaymentsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable
48809000 USD
arct Proceedsfrom Securities Purchasedunder Agreementsto Resell Loans Receivable
ProceedsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable
186592000 USD
arct Proceedsfrom Securities Purchasedunder Agreementsto Resell Loans Receivable
ProceedsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable
104626000 USD
CY2012Q4 arct Related Party Transaction Cumulative Capital Investment Returnas Percentageof Benchmark
RelatedPartyTransactionCumulativeCapitalInvestmentReturnasPercentageofBenchmark
0.06
CY2014Q4 arct Related Party Transaction Cumulative Capital Investment Returnas Percentageof Benchmark
RelatedPartyTransactionCumulativeCapitalInvestmentReturnasPercentageofBenchmark
0.06
CY2015Q4 arct Senior Loans Receivable
SeniorLoansReceivable
894075000 USD
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
689000 USD
us-gaap Asset Management Costs
AssetManagementCosts
6025000 USD
CY2016Q2 arct Senior Loans Receivable
SeniorLoansReceivable
913619000 USD
CY2016Q1 arct Share Repurchase Program Maximum Percentage Of Shares Authorized To Repurchase During Fiscal Semester
ShareRepurchaseProgramMaximumPercentageOfSharesAuthorizedToRepurchaseDuringFiscalSemester
0.025
CY2016Q1 arct Share Repurchase Program Maximum Percentage Of Shares Authorized To Repurchase During Year
ShareRepurchaseProgramMaximumPercentageOfSharesAuthorizedToRepurchaseDuringYear
0.05
CY2015Q4 arct Subordinated Loans
SubordinatedLoans
10000000 USD
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
301000 USD
CY2015Q4 us-gaap Assets
Assets
1282484000 USD
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
765000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1184000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1333000 USD
CY2015Q2 us-gaap Asset Management Costs
AssetManagementCosts
974000 USD
us-gaap Asset Management Costs
AssetManagementCosts
1336000 USD
CY2016Q2 us-gaap Asset Management Costs
AssetManagementCosts
3015000 USD
CY2016Q2 us-gaap Assets
Assets
1331102000 USD
CY2015Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
130754000 USD
CY2016Q2 arct Subordinated Loans
SubordinatedLoans
10000000 USD
CY2015 arct Weighted Average Risk Ratingof Loans
WeightedAverageRiskRatingofLoans
2.0 rating
arct Weighted Average Risk Ratingof Loans
WeightedAverageRiskRatingofLoans
2.0 rating
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Period End Date
DocumentPeriodEndDate
2016-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001562528
CY2016Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
31441977 shares
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
Realty Finance Trust, Inc.
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
6805000 USD
CY2016Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
14520000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
508000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1143000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2254000 USD
CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4827000 USD
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
691590000 USD
CY2016Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
691632000 USD
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
0 USD
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
0 USD
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
0 USD
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
0 USD
CY2016Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
125987000 USD
CY2015Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3149000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
4181000 USD
CY2016Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
223000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
380000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
386000 USD
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5445000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14807000 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
63653000 USD
us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
5059000 USD
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
48846000 USD
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2013Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.0625
CY2016Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.0625
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
949999000 shares
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
949999000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31385280 shares
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31361543 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31385280 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31361543 shares
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
314000 USD
CY2016Q2 us-gaap Common Stock Value
CommonStockValue
314000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4446000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
8937000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
11251000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
15707000 USD
us-gaap Dividends
Dividends
32493000 USD
CY2015 us-gaap Dividends Common Stock
DividendsCommonStock
47100000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
32600000 USD
CY2015 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
26900000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
19700000 USD
CY2015 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
20200000 USD
us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
13000000 USD
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
5552000 USD
CY2016Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
5392000 USD
CY2015Q4 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
4327000 USD
CY2016Q2 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
4049000 USD
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
4022000 USD
us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
5392000 USD
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
0 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
0 USD
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
539000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1355000 USD
CY2015Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
415000 USD
us-gaap General Insurance Expense
GeneralInsuranceExpense
538000 USD
CY2016Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
712000 USD
us-gaap General Insurance Expense
GeneralInsuranceExpense
1406000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
184000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
16000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
574000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-877000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-78000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-278000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1192000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
52000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-40000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
20000 USD
CY2015Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
12484000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
22089000 USD
CY2016Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
20222000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
40513000 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
2523000 USD
us-gaap Interest Expense
InterestExpense
4456000 USD
CY2016Q2 us-gaap Interest Expense
InterestExpense
5393000 USD
us-gaap Interest Expense
InterestExpense
10161000 USD
us-gaap Interest Paid
InterestPaid
5456000 USD
us-gaap Interest Paid
InterestPaid
8811000 USD
CY2015Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
792000 USD
CY2016Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
808000 USD
CY2015Q4 us-gaap Interest Receivable
InterestReceivable
5360000 USD
CY2016Q2 us-gaap Interest Receivable
InterestReceivable
5248000 USD
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
12484000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
22089000 USD
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
20222000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
40513000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
628155000 USD
CY2016Q2 us-gaap Liabilities
Liabilities
693517000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1282484000 USD
CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1331102000 USD
CY2014Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
570000 USD
CY2015Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
794000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
888000 USD
CY2016Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
1722000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1125089000 USD
CY2016Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1128717000 USD
CY2015Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
425733000 USD
CY2016Q2 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
425992000 USD
CY2015Q4 us-gaap Loans Receivable Net
LoansReceivableNet
1124201000 USD
CY2016Q2 us-gaap Loans Receivable Net
LoansReceivableNet
1126995000 USD
us-gaap Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
43877000 USD
us-gaap Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
22690000 USD
CY2014Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
456884000 USD
CY2015Q2 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
792092000 USD
CY2015Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
1124201000 USD
CY2016Q2 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
1126995000 USD
us-gaap Mortgage Loans On Real Estate Cost Of Mortgages Sold
MortgageLoansOnRealEstateCostOfMortgagesSold
0 USD
us-gaap Mortgage Loans On Real Estate Cost Of Mortgages Sold
MortgageLoansOnRealEstateCostOfMortgagesSold
0 USD
us-gaap Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
232039000 USD
us-gaap Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
713597000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
10759000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
19703000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
125000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
816000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
24703000 USD
us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
378803000 USD
us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
25194000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
381186000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30222000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-386437000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-580000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10310000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
19204000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
4303000 USD
us-gaap Net Income Loss
NetIncomeLoss
8935000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
8860000 USD
us-gaap Net Income Loss
NetIncomeLoss
18280000 USD
CY2015Q4 us-gaap Notes Receivable Net
NotesReceivableNet
1307000 USD
CY2016Q2 us-gaap Notes Receivable Net
NotesReceivableNet
1596000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
5658000 USD
us-gaap Operating Expenses
OperatingExpenses
8698000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
5969000 USD
us-gaap Operating Expenses
OperatingExpenses
12072000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2573000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
143000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
2000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
2391000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2573000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-35366000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-22401000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1278000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6013000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
43287000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
378803000 USD
us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
25194000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
5666 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
5889 shares
CY2016Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1125000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
214419000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2015 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
755500000 USD
us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
755500000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
287000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2213000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-344000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-1132000 USD
us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
263280000 USD
us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
715666000 USD
CY2015Q2 us-gaap Professional Fees
ProfessionalFees
1040000 USD
us-gaap Professional Fees
ProfessionalFees
2419000 USD
CY2016Q2 us-gaap Professional Fees
ProfessionalFees
811000 USD
us-gaap Professional Fees
ProfessionalFees
2072000 USD
CY2015Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
80000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
224000 USD
CY2016Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
669000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
834000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5366000 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6498000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-35322000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-49535000 USD
CY2015Q2 us-gaap Revenues
Revenues
9961000 USD
us-gaap Revenues
Revenues
17633000 USD
CY2016Q2 us-gaap Revenues
Revenues
14829000 USD
us-gaap Revenues
Revenues
30352000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
287229000 USD
CY2016Q2 us-gaap Secured Debt
SecuredDebt
287412000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
18000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
12950000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
18000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
12926000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
654329000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
637585000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
654329000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
637585000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22040657 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19675540 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31807927 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31682402 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22036590 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19671251 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31802261 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31676513 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
4067 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
4289 shares
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Below is a summary of the Company's MRAs as of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">June&#160;30, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> (in thousands):</font></div><div style="line-height:120%;padding-top:6px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:98.05068226120858%;border-collapse:collapse;text-align:left;"><tr><td colspan="18" rowspan="1"></td></tr><tr><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Weighted Average</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Counterparty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Amount Outstanding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Accrued Interest</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Collateral Pledged (*)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Interest Rate</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Days to Maturity</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">As of June&#160;30, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">J.P. Morgan Securities LLC<br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">89,882</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">40</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">139,130</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.27</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Citigroup Global Markets, Inc.</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">82</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">35,184</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.33</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wells Fargo Securities, LLC<br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,375</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,450</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.80</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total/Weighted Average</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">119,280</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">125</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">178,764</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2.27</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">26</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">As of December&#160;31, 2015</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">J.P. Morgan Securities LLC<br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">86,898</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">108</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">130,618</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.03</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Citigroup Global Markets, Inc.</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,619</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">71</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">35,528</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.00</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">45</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wells Fargo Securities, LLC<br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,694</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,925</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.67</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total/Weighted Average</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">117,211</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">182</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">171,071</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2.01</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">17</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:4px;text-align:left;padding-left:24px;text-indent:-12px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">* Includes </font><font style="font-family:inherit;font-size:9pt;">$54,082</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:inherit;font-size:9pt;">$56,044</font><font style="font-family:inherit;font-size:9pt;"> Tranche C of RFT issued CLO held by the Company, which eliminates within the Real estate securities, at fair value line of the consolidated balance sheets as of June 30, 2016 and December 31, 2015, respectively. </font></div></div>

Files In Submission

Name View Source Status
0001562528-16-000025-index-headers.html Edgar Link pending
0001562528-16-000025-index.html Edgar Link pending
0001562528-16-000025.txt Edgar Link pending
0001562528-16-000025-xbrl.zip Edgar Link pending
arct-20160630.xml Edgar Link completed
arct-20160630.xsd Edgar Link pending
arct-20160630_cal.xml Edgar Link unprocessable
arct-20160630_def.xml Edgar Link unprocessable
arct-20160630_lab.xml Edgar Link unprocessable
arct-20160630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
rft-2016q1_chartx03679a01.jpg Edgar Link pending
rft-2016q1_chartx04979a01.jpg Edgar Link pending
rft-2016q1_chartx05803a01.jpg Edgar Link pending
rft-2016q1_chartx06970a01.jpg Edgar Link pending
rft-2016q1_chartx08058a01.jpg Edgar Link pending
rft-2016q1_chartx09448a01.jpg Edgar Link pending
rft-2016q1_chartx11093a01.jpg Edgar Link pending
rft-2016q1_chartx12713a01.jpg Edgar Link pending
rft-2016q2x10q.htm Edgar Link pending
rft-2016q2xexhibit311.htm Edgar Link pending
rft-2016q2xexhibit312.htm Edgar Link pending
rft-2016q2xexhibit32.htm Edgar Link pending
rft2016q2petermcdonoughindem.htm Edgar Link pending
rftstockagreement.htm Edgar Link pending
Show.js Edgar Link pending
usamapregions22july2015a06.jpg Edgar Link pending