Consolidated Balance Sheet - USD ($) $ in Thousands		Mar. 31, 2017		Dec. 31, 2016
ASSETS
Cash and cash equivalents		$ 104,219		$ 123,274
Restricted cash		655		655
Investments, financial derivatives, and repurchase agreements:
Investments, at fair value (Cost – $1,876,105 and $1,525,710)		1,864,213		1,505,026
Financial derivatives–assets, at fair value (Net cost – $37,658 and $40,724)	[1]	29,907		35,595
Repurchase agreements, at fair value (Cost – $294,468 and $185,205)		293,802		184,819
Total investments, financial derivatives, and repurchase agreements		2,187,922		1,725,440
Due from brokers		57,873		93,651
Receivable for securities sold and financial derivatives		550,241		445,112
Interest and principal receivable		25,071		21,704
Other assets		5,264		3,359
Total Assets		2,931,245		2,413,195
Investments and financial derivatives:
Investments sold short, at fair value (Proceeds – $782,395 and $589,429)		780,320		584,896
Financial derivatives–liabilities, at fair value (Net proceeds – $16,024 and $12,012)	[1]	20,938		18,687
Total investments and financial derivatives		801,258		603,583
Reverse repurchase agreements	[1]	1,086,271		1,033,581
Due to brokers		5,512		12,780
Payable for securities purchased and financial derivatives		310,535		85,168
Other secured borrowings (Proceeds – $61,802 and $24,086)		61,802		24,086
Accounts payable and accrued expenses		3,729		3,327
Base management fee payable		2,410		2,416
Interest and dividends payable		4,137		3,460
Other liabilities		1,136		17
Total Liabilities		2,276,790		1,768,418
Total Equity		654,455		644,777
TOTAL LIABILITIES AND EQUITY		2,931,245		2,413,195
Commitments and contingencies (Note 15)
ANALYSIS OF EQUITY:
Common shares, no par value, 100,000,000 shares authorized; (32,164,215 and 32,294,703 shares issued and outstanding)		626,116		627,620
Additional paid-in capital – LTIP Units		10,135		10,041
Total Shareholders' Equity		636,251		637,661
Non-controlling interests		18,204		7,116
Total Equity		$ 654,455		$ 644,777
PER SHARE INFORMATION:
Common shares (in usd per share)		$ 19.78	[2]	$ 19.75

[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 March 31, 2017 and 2016, shareholders' equity per share would be $19.50 and $20.63, respectively.