CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands |
Total |
Series B Preferred Stock |
Series C Preferred Stock |
Preferred Stock
Series B Preferred Stock
|
Preferred Stock
Series C Preferred Stock
|
Common Stock |
Additional Paid-in Capital |
Accumulated Deficit |
Accumulated Deficit
Series B Preferred Stock
|
Accumulated Deficit
Series C Preferred Stock
|
Accumulated Other Comprehensive Income |
Preferred stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2023 |
|
|
|
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2023 |
|
|
|
|
|
|
101,916,000
|
|
|
|
|
|
Beginning balance at Dec. 31, 2023 |
|
$ 1,899,915
|
|
|
$ 80
|
$ 110
|
$ 1,019
|
$ 3,698,767
|
$ (1,817,759)
|
|
|
$ 17,698
|
Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
Net Income/(Loss) |
|
23,213
|
|
|
|
|
|
|
23,213
|
|
|
|
Issuance of common stock, net of expenses (in shares) |
|
|
|
|
|
|
297,000
|
|
|
|
|
|
Issuance of common stock, net of expenses |
|
(17)
|
|
|
|
|
$ 3
|
(20)
|
|
|
|
|
Repurchase of shares of common stock (in shares) |
[1] |
|
|
|
|
|
(131,000)
|
|
|
|
|
|
Repurchase of shares of common stock |
[1] |
(1,492)
|
|
|
|
|
$ (1)
|
(1,491)
|
|
|
|
|
Equity based compensation expense |
|
5,986
|
|
|
|
|
|
5,986
|
|
|
|
|
Change in accrued dividends attributable to stock-based awards |
|
(1,011)
|
|
|
|
|
|
|
(1,011)
|
|
|
|
Dividends declared on common stock |
|
(35,729)
|
|
|
|
|
|
|
(35,729)
|
|
|
|
Dividends declared on preferred stock |
|
|
$ (3,750)
|
$ (4,469)
|
|
|
|
|
|
$ (3,750)
|
$ (4,469)
|
|
Dividends attributable to dividend equivalents |
|
(287)
|
|
|
|
|
|
|
(287)
|
|
|
|
Change in unrealized gains on securities, net |
|
1,828
|
|
|
|
|
|
|
|
|
|
1,828
|
Preferred stock, shares outstanding, ending balance (in shares) at Mar. 31, 2024 |
|
|
|
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, ending balance (in shares) at Mar. 31, 2024 |
|
|
|
|
|
|
102,082,000
|
|
|
|
|
|
Ending balance at Mar. 31, 2024 |
|
1,884,187
|
|
|
$ 80
|
$ 110
|
$ 1,021
|
3,703,242
|
(1,839,792)
|
|
|
19,526
|
Preferred stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2023 |
|
|
|
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2023 |
|
|
|
|
|
|
101,916,000
|
|
|
|
|
|
Beginning balance at Dec. 31, 2023 |
|
1,899,915
|
|
|
$ 80
|
$ 110
|
$ 1,019
|
3,698,767
|
(1,817,759)
|
|
|
17,698
|
Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
Net Income/(Loss) |
|
$ 65,159
|
|
|
|
|
|
|
|
|
|
|
Repurchase of shares of common stock (in shares) |
|
0
|
|
|
|
|
|
|
|
|
|
|
Dividends declared on preferred stock |
|
$ (16,437)
|
|
|
|
|
|
|
|
|
|
|
Preferred stock, shares outstanding, ending balance (in shares) at Jun. 30, 2024 |
|
|
|
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2024 |
|
|
|
|
|
|
102,083,000
|
|
|
|
|
|
Ending balance at Jun. 30, 2024 |
|
1,883,242
|
|
|
$ 80
|
$ 110
|
$ 1,021
|
3,707,886
|
(1,843,507)
|
|
|
17,652
|
Preferred stock, shares outstanding, beginning balance (in shares) at Mar. 31, 2024 |
|
|
|
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, beginning balance (in shares) at Mar. 31, 2024 |
|
|
|
|
|
|
102,082,000
|
|
|
|
|
|
Beginning balance at Mar. 31, 2024 |
|
1,884,187
|
|
|
$ 80
|
$ 110
|
$ 1,021
|
3,703,242
|
(1,839,792)
|
|
|
19,526
|
Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
Net Income/(Loss) |
|
41,946
|
|
|
|
|
|
|
41,946
|
|
|
|
Issuance of common stock, net of expenses (in shares) |
|
|
|
|
|
|
1,000
|
|
|
|
|
|
Issuance of common stock, net of expenses |
|
(18)
|
|
|
|
|
|
(18)
|
|
|
|
|
Equity based compensation expense |
|
4,662
|
|
|
|
|
|
4,662
|
|
|
|
|
Change in accrued dividends attributable to stock-based awards |
|
(1,395)
|
|
|
|
|
|
|
(1,395)
|
|
|
|
Dividends declared on common stock |
|
(35,729)
|
|
|
|
|
|
|
(35,729)
|
|
|
|
Dividends declared on preferred stock |
|
(8,218)
|
$ (3,750)
|
$ (4,469)
|
|
|
|
|
|
(3,750)
|
(4,469)
|
|
Dividends attributable to dividend equivalents |
|
(318)
|
|
|
|
|
|
|
(318)
|
|
|
|
Change in unrealized gains on securities, net |
|
(1,874)
|
|
|
|
|
|
|
|
|
|
(1,874)
|
Preferred stock, shares outstanding, ending balance (in shares) at Jun. 30, 2024 |
|
|
|
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2024 |
|
|
|
|
|
|
102,083,000
|
|
|
|
|
|
Ending balance at Jun. 30, 2024 |
|
$ 1,883,242
|
|
|
$ 80
|
$ 110
|
$ 1,021
|
3,707,886
|
(1,843,507)
|
|
|
17,652
|
Preferred stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2024 |
|
|
8,000,000
|
11,000,000
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2024 |
|
102,083,000
|
|
|
|
|
102,083,000
|
|
|
|
|
|
Beginning balance at Dec. 31, 2024 |
|
$ 1,841,792
|
|
|
$ 80
|
$ 110
|
$ 1,021
|
3,711,046
|
(1,879,941)
|
|
|
9,476
|
Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
Net Income/(Loss) |
|
41,176
|
|
|
|
|
|
|
41,176
|
|
|
|
Issuance of common stock, net of expenses (in shares) |
|
|
|
|
|
|
1,081,000
|
|
|
|
|
|
Issuance of common stock, net of expenses |
|
(9)
|
|
|
|
|
$ 11
|
(20)
|
|
|
|
|
Repurchase of shares of common stock (in shares) |
[2] |
|
|
|
|
|
(511,000)
|
|
|
|
|
|
Repurchase of shares of common stock |
[2] |
(5,194)
|
|
|
|
|
$ (5)
|
(5,189)
|
|
|
|
|
Equity based compensation expense |
|
5,791
|
|
|
|
|
|
5,791
|
|
|
|
|
Change in accrued dividends attributable to stock-based awards |
|
1,727
|
|
|
|
|
|
1,296
|
431
|
|
|
|
Dividends declared on common stock |
|
(36,955)
|
|
|
|
|
|
|
(36,955)
|
|
|
|
Dividends declared on preferred stock |
|
|
$ (3,750)
|
$ (4,469)
|
|
|
|
|
|
(3,750)
|
(4,469)
|
|
Dividends attributable to dividend equivalents |
|
(445)
|
|
|
|
|
|
|
(445)
|
|
|
|
Change in unrealized gains on securities, net |
|
(1,260)
|
|
|
|
|
|
|
|
|
|
(1,260)
|
Preferred stock, shares outstanding, ending balance (in shares) at Mar. 31, 2025 |
|
|
|
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, ending balance (in shares) at Mar. 31, 2025 |
|
|
|
|
|
|
102,653,000
|
|
|
|
|
|
Ending balance at Mar. 31, 2025 |
|
$ 1,838,404
|
|
|
$ 80
|
$ 110
|
$ 1,027
|
3,712,924
|
(1,883,953)
|
|
|
8,216
|
Preferred stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2024 |
|
|
8,000,000
|
11,000,000
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2024 |
|
102,083,000
|
|
|
|
|
102,083,000
|
|
|
|
|
|
Beginning balance at Dec. 31, 2024 |
|
$ 1,841,792
|
|
|
$ 80
|
$ 110
|
$ 1,021
|
3,711,046
|
(1,879,941)
|
|
|
9,476
|
Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
Net Income/(Loss) |
|
$ 74,360
|
|
|
|
|
|
|
|
|
|
|
Repurchase of shares of common stock (in shares) |
|
0
|
|
|
|
|
|
|
|
|
|
|
Dividends declared on preferred stock |
|
$ (18,779)
|
|
|
|
|
|
|
|
|
|
|
Preferred stock, shares outstanding, ending balance (in shares) at Jun. 30, 2025 |
|
|
8,000,000
|
11,000,000
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2025 |
|
102,669,000
|
|
|
|
|
102,669,000
|
|
|
|
|
|
Ending balance at Jun. 30, 2025 |
|
$ 1,822,127
|
|
|
$ 80
|
$ 110
|
$ 1,027
|
3,715,943
|
(1,899,922)
|
|
|
4,889
|
Preferred stock, shares outstanding, beginning balance (in shares) at Mar. 31, 2025 |
|
|
|
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, beginning balance (in shares) at Mar. 31, 2025 |
|
|
|
|
|
|
102,653,000
|
|
|
|
|
|
Beginning balance at Mar. 31, 2025 |
|
1,838,404
|
|
|
$ 80
|
$ 110
|
$ 1,027
|
3,712,924
|
(1,883,953)
|
|
|
8,216
|
Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
Net Income/(Loss) |
|
33,184
|
|
|
|
|
|
|
33,184
|
|
|
|
Issuance of common stock, net of expenses (in shares) |
|
|
|
|
|
|
16,000
|
|
|
|
|
|
Issuance of common stock, net of expenses |
|
(20)
|
|
|
|
|
|
(20)
|
|
|
|
|
Equity based compensation expense |
|
3,039
|
|
|
|
|
|
3,039
|
|
|
|
|
Change in accrued dividends attributable to stock-based awards |
|
(1,020)
|
|
|
|
|
|
|
(1,020)
|
|
|
|
Dividends declared on common stock |
|
(36,961)
|
|
|
|
|
|
|
(36,961)
|
|
|
|
Dividends declared on preferred stock |
|
(10,560)
|
$ (3,750)
|
$ (6,810)
|
|
|
|
|
|
$ (3,750)
|
$ (6,810)
|
|
Dividends attributable to dividend equivalents |
|
(612)
|
|
|
|
|
|
|
(612)
|
|
|
|
Change in unrealized gains on securities, net |
|
$ (3,327)
|
|
|
|
|
|
|
|
|
|
(3,327)
|
Preferred stock, shares outstanding, ending balance (in shares) at Jun. 30, 2025 |
|
|
8,000,000
|
11,000,000
|
8,000,000
|
11,000,000
|
|
|
|
|
|
|
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2025 |
|
102,669,000
|
|
|
|
|
102,669,000
|
|
|
|
|
|
Ending balance at Jun. 30, 2025 |
|
$ 1,822,127
|
|
|
$ 80
|
$ 110
|
$ 1,027
|
$ 3,715,943
|
$ (1,899,922)
|
|
|
$ 4,889
|
|
|