Equity (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of Movement in Outstanding Shares of Class A Common Stock, Restricted Class A Common Stock and Deferred Stock Units

The following table details the movement in our outstanding shares of class A common stock, restricted class A common stock, and deferred stock units:


	Three Months Ended March 31,
Common Stock Outstanding⁽¹⁾	2014		2013
Beginning balance		29,602,884		3,016,405
Issuance of class A common stock		9,775,000		—
Issuance of deferred stock units		4,955		1,612

Ending balance		39,382,839		3,018,017

(1)	Deferred stock units held by members of our board of directors totalled 106,188 and 91,366 as of March 31, 2014 and 2013, respectively.

Schedule of Calculation of Basic and Diluted Earnings Per Share of Class A Common Stock Based on Weighted-Average of Both Restricted and Unrestricted Class A Common Stock Outstanding

The following table sets forth the calculation of basic and diluted earnings per share based on the weighted-average of our shares of class A common stock, restricted class A common stock, and deferred stock units outstanding ($ in thousands, except per share data):


	Three Months Ended March 31,
	2014		2013
Net income (loss)	$	13,065	$	(3,115	)
Weighted-average shares outstanding, basic and diluted		37,967,365		3,016,425

Per share amount, basic and diluted	$	0.34	$	(1.03	)

Schedule of Components of Non-Controlling Interests

The following table details the components of non-controlling interests in CT Legacy Partners ($ in thousands):


	March 31, 2014
Restricted cash	$	10,677
Accrued interest receivable, prepaid expenses, and other assets		55,176
Accounts payable, accrued expenses, and other liabilities		(249	)

CT Legacy Partners equity	$	65,604

Equity interests owned by Blackstone Mortgage Trust, Inc.		(27,287	)

Non-controlling interests in CT Legacy Partners	$	38,317