v3.26.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Series A Preferred Stock
Series B Preferred Stock
Noncontrolling interest in CMBS VIEs
Series A Preferred Stock
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Series B Preferred Stock
Retained Earnings (Accumulated Deficit)
Retained Earnings (Accumulated Deficit)
Series A Preferred Stock
Noncontrolling interest
Noncontrolling interest in CMBS VIEs
Noncontrolling interest
Noncontrolling interest in Subsidiary
Preferred stock, beginning balance (in shares) at Dec. 31, 2024         1,645,000              
Beginning balance at Dec. 31, 2024 $ 336,484       $ 16 $ 174 $ 387,892   $ (54,948)   $ 3,255 $ 95
Common stock, beginning balance (in shares) at Dec. 31, 2024           17,461,129            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Vesting of stock-based compensation (in shares)           260,699            
Vesting of stock-based compensation 1,411         $ 3 1,408          
Noncontrolling interest in CMBS variable interest entities       $ 42             42  
Net income attributable to stockholders 28,802 $ 1,748             28,802 $ 1,748    
Series A preferred stock dividends declared (1,748)               (1,748)      
Common stock dividends declared (18,504)               (18,504)      
Preferred stock, ending balance (in shares) at Jun. 30, 2025         1,645,000              
Ending balance at Jun. 30, 2025 348,235       $ 16 $ 177 389,300   (44,650)   3,297 95
Common stock, ending balance (in shares) at Jun. 30, 2025           17,721,828            
Preferred stock, beginning balance (in shares) at Mar. 31, 2025         1,645,000              
Beginning balance at Mar. 31, 2025 343,707       $ 16 $ 176 387,683   (47,536)   3,273 95
Common stock, beginning balance (in shares) at Mar. 31, 2025           17,643,526            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Vesting of stock-based compensation (in shares)           78,302            
Vesting of stock-based compensation 1,618         $ 1 1,617          
Noncontrolling interest in CMBS variable interest entities       $ 24             24  
Net income attributable to stockholders 12,285 874             12,285 874    
Series A preferred stock dividends declared (874)               (874)      
Common stock dividends declared (9,399)               (9,399)      
Preferred stock, ending balance (in shares) at Jun. 30, 2025         1,645,000              
Ending balance at Jun. 30, 2025 $ 348,235       $ 16 $ 177 389,300   (44,650)   $ 3,297 95
Common stock, ending balance (in shares) at Jun. 30, 2025           17,721,828            
Preferred stock, beginning balance (in shares) at Dec. 31, 2025 1,645,000       1,645,000              
Beginning balance at Dec. 31, 2025 $ 387,985       $ 16 $ 186 404,207   (16,519)     95
Common stock, beginning balance (in shares) at Dec. 31, 2025 18,574,101         18,574,101            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Vesting of stock-based compensation (in shares)           273,928            
Vesting of stock-based compensation $ (2,185)         $ 3 (2,188)          
Stock compensation 3,156           3,156          
Net income attributable to stockholders 15,473 1,748             15,473 1,748    
Series A preferred stock dividends declared (1,748)               (1,748)      
Common stock dividends declared $ (20,007)               (20,007)      
Series B preferred stock fair value adjustment     $ (4,716)         $ (4,716)        
Preferred stock, ending balance (in shares) at Jun. 30, 2026 1,645,000       1,645,000              
Ending balance at Jun. 30, 2026 $ 379,706       $ 16 $ 189 400,459   (21,053)     95
Common stock, ending balance (in shares) at Jun. 30, 2026 18,848,029         18,848,029            
Preferred stock, beginning balance (in shares) at Mar. 31, 2026         1,645,000              
Beginning balance at Mar. 31, 2026 $ 388,752       $ 16 $ 187 404,733   (16,279)     95
Common stock, beginning balance (in shares) at Mar. 31, 2026           18,686,983            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Vesting of stock-based compensation (in shares)           161,046            
Vesting of stock-based compensation (1,307)         $ 2 (1,309)          
Stock compensation 1,751           1,751          
Net income attributable to stockholders 5,433 $ 874             5,433 $ 874    
Series A preferred stock dividends declared (874)               (874)      
Common stock dividends declared $ (10,207)               (10,207)      
Series B preferred stock fair value adjustment     $ (4,716)         $ (4,716)        
Preferred stock, ending balance (in shares) at Jun. 30, 2026 1,645,000       1,645,000              
Ending balance at Jun. 30, 2026 $ 379,706       $ 16 $ 189 $ 400,459   $ (21,053)     $ 95
Common stock, ending balance (in shares) at Jun. 30, 2026 18,848,029         18,848,029