Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Mortgage-backed securities, at fair value (includes pledged assets of $6,692,991 and $5,209,068, respectively)	$ 6,738,094	$ 5,253,310
U.S. Treasury securities, available-for-sale (amortized cost of $125,154 and $100,412; includes pledged assets of $120,581 and $100,551, respectively)	125,543	100,551
Cash and cash equivalents	396,389	309,330
Restricted cash	3,703	25,723
Accrued interest receivable	31,518	23,044
Derivative assets	6,710	9,277
Receivable for investment securities and TBA transactions	1,466	0
Other assets	861	392
Total Assets	7,304,284	5,721,627
LIABILITIES:
Repurchase agreements	6,418,641	5,025,543
Payable for investment securities and TBA transactions	23	0
Dividends payable	12,960	9,940
Derivative liabilities	0	332
Accrued interest payable	13,293	10,750
Other liabilities	2,138	5,395
Total Liabilities	6,448,404	5,053,127
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value; 20,000,000 shares authorized; no shares issued and outstanding as of March 31, 2025 and December 31, 2024	0	0
Common Stock, $0.01 par value; 200,000,000 shares authorized, 107,786,614 shares issued and outstanding as of March 31, 2025 and 82,622,464 shares issued and outstanding as of December 31, 2024	1,078	826
Additional paid-in capital	1,180,062	1,010,306
Accumulated deficit	(325,649)	(342,771)
Accumulated other comprehensive income	389	139
Total Stockholders' Equity	855,880	668,500
Total Liabilities and Stockholders' Equity	7,304,284	5,721,627
Related Party [Member]
LIABILITIES:
Due to affiliates	$ 1,349	$ 1,167