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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Feb. 22, 2023
Feb. 21, 2023
Senior unsecured notes $ 159,196,000 $ 98,111,000    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01    
Common stock, shares authorized (in shares) 200,000,000 200,000,000 200,000,000 800,000,000
Common stock, shares issued (in shares) 90,574,996 90,675,403    
Common stock, shares outstanding (in shares) 90,574,996 90,675,403    
Total assets [1] $ 9,217,282,000 $ 7,401,328,000    
Total liabilities [1] 7,806,148,000 5,773,202,000    
VIE, Primary Beneficiary        
Collateralized debt obligations 275,200,000      
Total assets 3,988,584,000 3,816,777,000    
Total liabilities $ 3,477,211,000 $ 3,076,818,000    
Preferred Stock Series Shares        
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01    
Preferred stock, shares authorized (in shares) 31,500,000 31,500,000    
Preferred stock, shares issued (in shares) 22,164,414 22,164,414    
Preferred stock, shares outstanding (in shares) 22,164,414 22,164,414    
Preferred Stock, aggregate liquidation preference $ 554,110,000 $ 554,110,000    
Consolidated SLST        
Collateralized debt obligations 2,135,680,000 593,737,000    
Consolidated SLST | VIE, Primary Beneficiary        
Collateralized debt obligations 2,135,680,000 593,737,000    
Residential loan securitizations at amortized cost, net        
Collateralized debt obligations 842,764,000 1,276,780,000    
Residential loan securitizations at amortized cost, net | VIE, Primary Beneficiary        
Collateralized debt obligations 842,764,000 1,276,780,000    
Senior Unsecured Notes, At Fair Value        
Senior unsecured notes 60,310,000      
Senior Unsecured Notes        
Senior unsecured notes $ 98,886,000 $ 98,111,000    
[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIEs”) as the Company is the primary beneficiary of these VIEs. As of December 31, 2024 and December 31, 2023, assets of consolidated VIEs totaled $3,988,584 and $3,816,777, respectively, and the liabilities of consolidated VIEs totaled $3,477,211 and $3,076,818, respectively. See Note 7 for further discussion.