Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Mortgage-backed securities, at fair value (includes pledged assets of $6,943,630 and $5,209,068, respectively)	$ 6,993,359	$ 5,253,310
U.S. Treasury securities, available-for-sale (amortized cost of $124,826 and $100,412; includes pledged assets of $123,187 and $100,551, respectively)	125,151	100,551
Cash and cash equivalents	440,756	309,330
Restricted cash	15,572	25,723
Accrued interest receivable	31,982	23,044
Derivative assets	0	9,277
Receivable for unsettled TBA transactions	3,223	0
Other assets	588	392
Total Assets	7,610,631	5,721,627
LIABILITIES:
Repurchase agreements	6,655,879	5,025,543
Payable for unsettled TBA transactions	4,004	0
Dividends payable	15,214	9,940
Derivative liabilities	4,359	332
Accrued interest payable	13,848	10,750
Other liabilities	4,018	5,395
Total Liabilities	6,698,671	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 June 30, 2025 and December 31, 2024	0	0
Common Stock, $0.01 par value; 200,000,000 shares authorized, 126,566,926 shares issued and outstanding as of June 30, 2025 and 82,622,464 shares issued and outstanding as of December 31, 2024	1,266	826
Additional paid-in capital	1,269,596	1,010,306
Accumulated deficit	(359,227)	(342,771)
Accumulated other comprehensive income	325	139
Total Stockholders' Equity	911,960	668,500
Total Liabilities and Stockholders' Equity	7,610,631	5,721,627
Related Party [Member]
LIABILITIES:
Due to affiliates	$ 1,349	$ 1,167