Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands |
Sep. 30, 2020 |
Dec. 31, 2019 |
| Assets |
|
|
| Cash |
$ 250,942
|
$ 181,395
|
| Cash collateral posted to counterparties |
16,686
|
91,771
|
| Investments in securities, at fair value |
|
|
| Agency Securities (including pledged securities of $4,706,610 at September 30, 2020 and $11,188,502 at December 31, 2019) |
5,545,765
|
11,941,766
|
| Credit Risk and Non-Agency Securities (including pledged securities of $810,549 at December 31, 2019) |
3,393,168
|
883,601
|
| Derivatives, at fair value |
10,557
|
24,751
|
| Accrued interest receivable |
13,215
|
35,085
|
| Prepaid and other |
2,336
|
9,051
|
| Subordinated loan to BUCKLER |
105,000
|
105,000
|
| Total Assets |
5,944,501
|
13,272,420
|
| Liabilities: |
|
|
| Repurchase agreements |
4,510,795
|
11,354,547
|
| Cash collateral posted by counterparties |
4,100
|
14,958
|
| Payable for unsettled purchases |
518,552
|
358,712
|
| Derivatives, at fair value |
13,388
|
71,974
|
| Accrued interest payable- repurchase agreements |
1,289
|
31,932
|
| Accounts payable and other accrued expenses |
4,108
|
3,590
|
| Total Liabilities |
5,052,232
|
11,835,713
|
| Commitments and contingencies (Note 9) |
|
|
| Stockholders’ Equity: |
|
|
| Common stock, $0.001 par value, 125,000 shares authorized, 64,730 and 58,877 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively |
65
|
59
|
| Additional paid-in capital |
3,025,274
|
3,054,604
|
| Accumulated deficit |
(2,333,272)
|
(1,973,437)
|
| Accumulated other comprehensive income |
200,197
|
355,473
|
| Total Stockholders’ Equity |
892,269
|
1,436,707
|
| Total Liabilities and Stockholders’ Equity |
5,944,501
|
13,272,420
|
| 7.875% Series B Cumulative Preferred Stock; 8,383 shares issued and outstanding ($209,583 aggregate liquidation preference) at December 31, 2019 |
|
|
| Stockholders’ Equity: |
|
|
| Preferred stock, $0.001 par value, 50,000 shares authorized; |
0
|
8
|
| 7.00% Series C Cumulative Preferred Stock; 5,303 shares issued and outstanding ($132,588 aggregate liquidation preference) at September 30, 2020 |
|
|
| Stockholders’ Equity: |
|
|
| Preferred stock, $0.001 par value, 50,000 shares authorized; |
5
|
0
|
| Credit Risk and Non-Agency Securities |
|
|
| Investments in securities, at fair value |
|
|
| Credit Risk and Non-Agency Securities (including pledged securities of $810,549 at December 31, 2019) |
$ 0
|
$ 883,601
|