Matt. everyone. Thank you, Good morning,
were $X.XX Our December X.X or million year for per core X.X common share respectively. net shares XXXX $X.XX earnings months X.X allocable earnings were per per million XX, QX to share and million three or GAAP common the and or for was share X $X.XX $X.XX or XXXX. ended adjusted common and income million Core
with December adjusted million were estate experience, a core [indiscernible] higher of XXX,XXX share. last ended of real significant three which we for following core $X.XX X.X common CMBS B million the core on redemption commercial legal at dividend in as policy, we the XXXX. these seasonally million our in stock; paid the a corporate annualized X.X of arrive in or we three, share dividend tandem bond XXXX We and tended in per $X.XX loss of earnings that result share level. includes bond, million XXXX income share $X.XX the X.X adjustments XX.X year reserved XXXX, XX.X adjustments a a a fees impairment previously were increased loan due in X.X preferred $X.XX for million affected share adjusted our out accrued net interest in the our significant loan core to in interest received loan and as in core an adjusted position XXXX; net When non-recurring million And occurred a credit driving We from charge, recovery our X.X recognized also earnings to the common several QX supports growth per One, loan from from or for during payoffs, earnings. increase compared CLO, our earnings earnings realized months CMBS of on The in year-over-year activity. million another we the or our Series were the per was on of million legacy net XXXX or XXXX, made million $X.XX per X.X which originated and in For as acquired again saw XX% our legacy performance A calendar QX. XXXX. to QX approximately XX per XXX have, or items calendar based GAAP be in impairment period quarter. or income a Two, $X.XX view of a on was was to most items exit and/or X.X was view reported or finally, which income. which for items. Three XXXX. are in CRE non-core a share also held which 'XX, of course in period million per
of floating in the core or of our in portfolio platform, assets investment net XXXX. comprised the of as was worth par noting XX% commercial earning billion during December growth estate real asset it's value incremental the million growth XX% debt XX, the investments. First, of core investment that rate XXXX, XXX Also our X was
asset The second assets on our financing. December XX a real XX, is funds reduction same LIBOR to yield all basis LIBOR a the A interest related on the in - our equity at factor a estate compression assets. on is in invested eclipsed commercial CRE driving of our point points, spread resulting in the improvement rising our point accretive XX increase increase income point related third net on net the core cost XXXX rate from basis XXXX XX benefit And in floating at in of XX real date the investments. basis over estate basis
Matt strong mix XX% CRE production self-storage the use retail XX% properties. As the and The had discussed, during fourth from we office balance loan multifamily, mixed loan and quarter. was
all rate XX% Bond funds, which X.XX%. and a of million of at LIBOR agency spread plus CMBS we addition, acquired non-agency. was XX In of were XX% floating mix
of million with exit Notably, LIBOR QX the in average we XX of an planned a a uptick XXX with the payoffs in life X.XX% saw strategic plus of spread CRE XX payoffs. in is fee were fourth full paid As loan balance with months. typical off during an an XXX,XXX. of loan Loan quarter, million and
our CRE positive was the highlight book payoff Our per and share common for and net to wish common volume items, team. loan we $XX.XX increased as production two achieved and our a shareholders loan after to value GAAP which analyst credit was community. origination includes
our share value XX, amortized per notes $X.XX options Bob book XX convertible will of increase value referenced, December interest of time, our includes or at on to remaining as GAAP with This the amount over equity operating XXXX. notes performance. the book our be million First, value conversion and liability the balance GAAP but this the believe in expense, company's of misleading. value book convertible do has nothing is will reduce slow to accordingly We aggregate decline
stock. is the would Second, stock difference, balance the not of book order book share does the XXXX. are ever carrying per reflect which of economic treatments XXX XXX $X.XX at the full both million amount a redeem preferred believe million, in distributions our amount year million and transparency, preferred due, $X This preferred the that value. economic be Series the which C greater on we company. be restate position period, Adjusting should pay this we of we accounting the by non-GAAP provide reduced We for to these would of value end of introducing metric, obligation
a related been equity to value our earnings brief has the releases. note arising the in of background, option the convertible the and issuances As our Exantas disclosing adjustment from discount quarterly
some into releases. some outstanding taking participants both formally redemption been stock and common items account a decided price shareholders have of the into to economic time. single impact our We combine in addition, value In for preferred presentation both believe adjustments our the to market earnings
share economic book items vested December of GAAP per yields at per book per value XXXX. $X.XX value two discussed our XX, $XX.XX share totaling of [ph] So $XX.XX share
a December $XX.XX stability point share, value the XXXX managed economic value book As per XX, which relative the we've was reflects book of comparison, at company. the for
or from X.X stock from under notes. asset in increase a in increase XXXX, of convertible in XXX from December from preferred and in to having a rose of XXX decline is times the times XX debt results at up XX factors. million, million XXXX; XXX which year leverage redemptions, of levered million level GAAP The net borrowings, equity three, three reflects million debt, X% One, two, at ratio which equity Our X.X of decline been 'XX. to a primarily corporate stockholders' the redemption of of in end
of X.XX% due improve XX that During our had XXX asset convertible redeeming came capital structure the lastly, efforts XXXX. and remaining I'll X% by the coupon the preferred attractive by we our to of average that warehouse off With reducing final our XQ Bob financing existing of of that, and million stock a warehouse turn continued and million through terms in paying line flexibility weighted of XXXX, for And notes our comments. level terms amending to costs call new our some back facilities.
