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CONSOLIDATED BALANCE SHEET - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 34,816 $ 69,028
Mortgage-backed securities, at fair value(1) [1] 893,301 1,311,361
Other investments, at fair value 208 309
Due from brokers 18,824 88,662
Financial derivatives–assets, at fair value 68,770 6,638
Reverse repurchase agreements 499 117,505
Receivable for securities sold 33,452 0
Interest receivable 3,326 4,504
Other assets 436 459
Total Assets 1,053,632 1,598,466
LIABILITIES    
Repurchase agreements 842,455 1,064,835
Payable for securities purchased 42,199 255,136
Due to brokers 45,666 1,959
Financial derivatives–liabilities, at fair value 3,119 1,103
U.S. Treasury securities sold short, at fair value 498 117,195
Dividend payable 1,070 1,311
Accrued expenses 1,097 1,236
Management fee payable to affiliate 423 581
Interest payable 4,696 885
Total Liabilities 941,223 1,444,241
SHAREHOLDERS' EQUITY    
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0 shares issued and outstanding, respectively) 0 0
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (13,377,840 and 13,109,926 shares issued and outstanding, respectively) 134 131
Additional paid-in-capital 240,940 238,865
Accumulated deficit (128,665) (84,771)
Total Shareholders' Equity 112,409 154,225
Total Liabilities and Shareholders' Equity $ 1,053,632 $ 1,598,466
[1] Includes assets pledged as collateral to counterparties. See Note 6 for additional details on the Company's borrowings and related collateral.