Consolidated Balance Sheet - USD ($) $ in Thousands		Sep. 30, 2016		Dec. 31, 2015
ASSETS
Cash and cash equivalents		$ 179,618		$ 183,909
Restricted cash		5,610		4,857
Investments, financial derivatives, and repurchase agreements:
Investments, at fair value (Cost – $1,501,092 and $1,672,400)		1,499,715		1,661,118
Financial derivatives–assets, at fair value (Net cost – $63,635 and $163,943)	[1]	64,817		162,905
Repurchase agreements, at fair value (Cost – $164,669 and $105,329)	[1]	165,048		105,700
Total investments, financial derivatives, and repurchase agreements		1,729,580		1,929,723
Due from brokers		126,255		141,605
Receivable for securities sold and financial derivatives		563,462		705,748
Interest and principal receivable		17,377		20,444
Other assets		29,907		5,269
Total Assets		2,651,809		2,991,555
Investments and financial derivatives:
Investments sold short, at fair value (Proceeds – $677,286 and $731,048)		679,021		728,747
Financial derivatives–liabilities, at fair value (Net proceeds – $17,751 and $56,200)	[1]	39,816		60,472
Total investments and financial derivatives		718,837		789,219
Reverse repurchase agreements	[1]	983,814		1,174,189
Due to brokers		15,600		114,797
Payable for securities purchased and financial derivatives		229,212		165,365
Securitized debt (Proceeds – $30,771 and $0)		30,771		0
Accounts payable and accrued expenses		2,896		3,626
Base management fee payable		2,485		2,773
Interest and dividends payable		3,278		1,806
Other Liabilities		163		828
Total Liabilities		1,987,056		2,252,603
Total Equity		664,753		738,952
TOTAL LIABILITIES AND EQUITY		2,651,809		2,991,555
Commitments and contingencies (Note 15)
ANALYSIS OF EQUITY:
Common shares, no par value, 100,000,000 shares authorized; (32,619,060 and 33,126,012 shares issued and outstanding)		645,961		722,360
Additional paid-in capital – LTIP units		9,942		9,689
Total Shareholders' Equity		655,903		732,049
Non-controlling interests		8,850		6,903
Total Equity		$ 664,753		$ 738,952
PER SHARE INFORMATION:
Common shares (in usd per share)		$ 20.11	[2]	$ 22.10

[1] In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.

[2] If all LTIP units and OP Units previously issued were vested and exchanged for common shares as of September 30, 2016 and 2015, shareholders' equity per share would be $19.83 and $22.22, respectively.