v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets [Abstract]    
Cash and cash equivalents $ 607,562 $ 531,043
Cash collateral posted to counterparties 570,020 399,344
Mortgage-backed securities (including pledged of $23,669,753 and $14,593,470, respectively), at fair value 25,066,198 16,306,988
Due from counterparties 53,446 17,425
Derivative assets 8,441 10,498
Accrued interest receivable 104,272 67,940
Other assets 9,663 8,940
Total assets 26,419,602 17,342,178
Liabilities:    
Repurchase agreements 22,644,742 13,904,231
Due to counterparties 380,947 811,656
Derivative liabilities 9,117 4,830
Cash collateral posted by counterparties 15,500 8,373
Accrued interest payable 135,194 95,196
Dividends payable 46,943 37,171
Other liabilities 12,092 18,577
 Total liabilities 23,244,535 14,880,034
Stockholders' Equity Attributable to Parent [Abstract]    
Preferred stock, par value $0.01 per share; 50,000,000 shares authorized; 4,460,000 and 4,460,000 shares issued and outstanding, respectively ($111,500 and $111,500 aggregate liquidation preference, respectively) 107,843 107,843
Common stock, par value $0.01 per share, 720,000,000 and 360,000,000 shares authorized, respectively; 237,414,259 and 174,814,912 shares issued and outstanding, respectively 2,374 1,748
Additional paid-in capital 3,760,123 2,921,551
Accumulated other comprehensive loss (128,074) (127,061)
Accumulated deficit (567,199) (441,937)
 Total shareholders’ equity 3,175,067 2,462,144
Total liabilities and shareholders’ equity $ 26,419,602 $ 17,342,178
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common Stock, Shares Authorized 720,000,000 360,000,000