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CONSOLIDATED BALANCE SHEET - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 43,713 $ 34,816
Mortgage-backed securities, at fair value(1) [1] 920,714 893,301
Other investments, at fair value 510 208
Due from brokers 17,031 18,824
Financial derivatives–assets, at fair value 70,518 68,770
Reverse repurchase agreements 12,191 499
Receivable for securities sold 14,528 33,452
Interest receivable 4,138 3,326
Other assets 646 436
Total Assets 1,083,989 1,053,632
LIABILITIES    
Repurchase agreements 875,030 842,455
Payable for securities purchased 30,725 42,199
Due to brokers 49,787 45,666
Financial derivatives–liabilities, at fair value 2,481 3,119
U.S. Treasury securities sold short, at fair value 1,957 498
Dividend payable 1,150 1,070
Accrued expenses 1,386 1,097
Management fee payable to affiliate 439 423
Interest payable 4,337 4,696
Total Liabilities 967,292 941,223
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; (14,378,193 and 13,377,840 shares issued and outstanding, respectively) 144 134
Additional paid-in-capital 248,355 240,940
Accumulated deficit (131,802) (128,665)
Total Shareholders' Equity 116,697 112,409
Total Liabilities and Shareholders' Equity $ 1,083,989 $ 1,053,632
[1] Includes assets pledged as collateral to counterparties. See Note 6 for additional details on the Company's borrowings and related collateral.