v3.26.3
Condensed Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
ASSETS:    
Mortgage-backed securities, at fair value (includes pledged assets of $10,613,780 and $10,502,743, respectively) $ 10,667,068 $ 10,628,658
U.S. Treasury securities, available-for-sale (amortized cost of $208,279 and $134,715; includes pledged assets of $207,861 and $135,133, respectively) 207,861 135,133
Cash and cash equivalents 462,423 665,865
Restricted cash 151,545 58,696
Accrued interest receivable 53,076 49,127
Derivative assets 20,703 9,253
Reverse repurchase agreements 460,471 128,613
Receivable for investment securities and TBA transactions 0 0
Other assets 860 648
Total Assets 12,024,007 11,675,993
LIABILITIES:    
Repurchase agreements 10,361,717 10,115,466
Payable for investment securities and TBA transactions 0 1,519
Dividends payable 19,491 21,865
Derivative liabilities 1,180 1,846
Accrued interest payable 19,491 31,397
Obligation to return securities borrowed under reverse repurchase agreements, at fair value 435,692 128,724
Other liabilities 12,933 1,567
Total Liabilities 10,852,171 10,304,045
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 20,000,000 shares authorized; no shares issued and outstanding as of September 30, 2026 and December 31, 2025 0 0
Common Stock, $0.01 par value; 400,000,000 shares authorized, 194,661,864 shares issued and outstanding as of September 30, 2026 and 181,985,900 shares issued and outstanding as of December 31, 2025 1,947 1,820
Additional paid-in capital 1,463,731 1,553,451
Accumulated deficit (293,424) (183,741)
Accumulated other comprehensive (loss) income (418) 418
Total Stockholders' Equity 1,171,836 1,371,948
Total Liabilities and Stockholders' Equity 12,024,007 11,675,993
Related Party [Member]    
LIABILITIES:    
Due to affiliates $ 1,667 $ 1,661