Company Highlights:
Diversified operating platform with a multifamily focus that continues to produce strong distributable earnings and dividends in all cycles GAAP net income of $0.51 and distributable earnings of $0.45 per diluted common share1Raised cash dividend on common stock to $0.35 per share, our fifth consecutive quarterly increaseRaised $440 million of accretive growth capital: $223 million from offering of 6.375% Series D preferred stock, using $93 million to redeem our Series A, B and C preferred stock (8.14% on a weighted-average basis)$172 million from issuance of 5.00% senior unsecured notes due in 2026$138 million through issuance of common shares Continued focus on improving funding sources, increasing warehouse capacity$1.27 billionGAAP book value of$10.97, or $11.35 per common share adjusted for $61.0 million of CECL general reservesAgency Business:
Segment income of $34.7 millionLoan originations of $1.31 billion and a servicing portfolio of over $26 billionClosed our second private label securitization totaling $450 millionStructured Business:
Segment income of $43.1 millionPortfolio growth of 18% on record loan originations of $1.84 billionClosed a $815 million collateralized securitization vehicle, our largest to dateUNIONDALE, N.Y.