Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of accumulated other comprehensive income

The following table presents the components of accumulated other comprehensive income at September 30, 2016 and December 31, 2015, respectively. The table excludes MBS and GSE CRTs that are accounted for under the fair value option.



$ in thousands	September 30, 2016		December 31, 2015
Unrealized gain/(loss) on mortgage-backed and credit risk transfer securities, net	426,142		170,383
Unrealized gain/(loss) on discontinued cash flow hedges, net	159,463		148,273
Currency translation adjustments on investment in unconsolidated venture	(42	)	(32	)
Accumulated other comprehensive income	585,563		318,624

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes the activity related to restricted stock units to employees of the Manager and its affiliates for the three and nine months ended September 30, 2016.



	Three Months Ended September 30,			Nine Months Ended September 30,
	2016			2016
	Restricted Stock Units	Weighted Average Grant Date Fair Value ⁽¹⁾		Restricted Stock Units		Weighted Average Grant Date Fair Value ⁽¹⁾
Unvested at the beginning of the period	46,000	$	14.40	40,814		17.29
Shares granted during the period	—	—		21,099		11.28
Shares forfeited during the period	—	—		—		—
Shares vested during the period	—	—		(15,913	)	(17.66	)
Unvested at the end of the period	46,000	$	14.40	46,000		14.40


(1)	The grant date fair value of restricted stock awards is based on the closing market price of the Company’s common stock at the grant date.