v3.25.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 49,115 $ 67,970
Cash collateral posted to counterparties 214,374 78,213
Investments in securities, at fair value    
Derivatives, at fair value 724,827 908,063
Accrued interest receivable 62,215 52,874
Prepaid and other 3,986 1,419
Total Assets 15,496,894 13,547,953
Liabilities:    
Repurchase agreements, net (including $5,704,198 and $4,895,003, respectively with BUCKLER) 12,490,792 10,713,830
Obligations to return securities received as collateral, at fair value 506,340 493,433
Cash collateral posted by counterparties 655,457 833,857
Payable for unsettled purchases 0 103,509
Derivatives, at fair value 71,297 1,285
Accrued interest payable- repurchase agreements (including $23,551 and $14,442, respectively with BUCKLER) 54,665 32,090
Accrued interest payable- U.S. Treasury Securities sold short 7,294 3,801
Accounts payable and other accrued expenses 7,203 4,733
Total Liabilities 13,793,048 12,186,538
Commitments and contingencies (Note 8 and Note 13)
Stockholders’ Equity:    
Common stock, $0.001 par value, 125,000 shares authorized; 82,416 shares and 62,412 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively. 82 62
Additional paid-in capital 4,957,900 4,585,739
Cumulative distributions to stockholders (2,440,621) (2,383,539)
Accumulated net loss (813,522) (840,854)
Total Stockholders’ Equity 1,703,846 1,361,415
Total Liabilities and Stockholders’ Equity 15,496,894 13,547,953
Series C Preferred Stock    
Stockholders’ Equity:    
Preferred stock, $0.001 par value, 50,000 shares authorized; 7.00% Series C Cumulative Preferred Stock; 6,864 shares and 6,847 shares issued and outstanding ($25.00 per share liquidation preference) at March 31, 2025 and December 31, 2024, respectively 7 7
Agency Securities    
Investments in securities, at fair value    
Debt securities, available for sale and trading $ 14,442,377 $ 12,439,414