v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest Income:    
Interest Income $ 172,881 $ 141,480
Interest expense (including $(60,976) and $(70,790), respectively with BUCKLER) (136,540) (136,149)
Net Interest Income 36,341 5,331
Other Income (Loss):    
Gain (Loss) on derivatives, net [1] (191,218) 156,448
Total Other Income 4,133 29,621
Expenses:    
Management fees 10,769 9,803
Compensation 811 1,437
Other operating 3,212 10,846
Total Expenses 14,792 22,086
Less management fees waived (1,650) (1,650)
Total Expenses after fees waived 13,142 20,436
Net Income 27,332 14,516
Dividends on preferred stock (3,000) (2,995)
Net Income available to common stockholders $ 24,332 $ 11,521
Net Income per share available to common stockholders (Note 11):    
Basic (in dollars per share) $ 0.32 $ 0.24
Diluted (in dollars per share) 0.32 0.24
Dividends declared per common share (in dollars per share) $ 0.72 $ 0.72
Weighted average common shares outstanding:    
Basic (in shares) 75,222 48,770
Diluted (in shares) 75,380 48,988
BUCKLER Securities, LLC | Related Party    
Interest Income:    
Interest expense (including $(60,976) and $(70,790), respectively with BUCKLER) $ (60,976) $ (70,790)
Agency Securities    
Other Income (Loss):    
Gain (Loss) on Agency Securities, trading, net 208,257 (137,749)
U.S. Treasury Securities    
Other Income (Loss):    
Gain (Loss) on U.S. Treasury Securities, net $ (12,906) $ 10,922
[1] Interest income and expense related to our interest rate swap contracts is recorded in gain (loss) on derivatives, net on the consolidated statements of operations. For additional information, see financial statement Note 7.