Consolidated Statement of Operations - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net interest income
Interest income		$ 68,358	$ 77,988	$ 55,827
Interest expense		(51,560)	(40,255)	(29,772)
Total net interest income		16,798	37,733	26,055
Other income (loss)
Reversal of (provision for) credit losses		(4,299)	(169)	(189)
Dividend income, net		193	0	0
Realized Losses		0	(1,084)	(257)
Other income		1,520	399	780
Gain on deconsolidation of real estate owned		1,490	0	0
Gain on extinguishment of debt		0	17	0
Equity in income (losses) of equity method investments		(2,564)	0	0
Revenues from consolidated real estate owned		5,144	12,402	10
Total other income (loss)		25,292	2,661	71,313
Operating expenses
Property general and administrative expenses		9,204	7,243	6,371
Loan servicing fees		4,187	4,388	5,179
Management fees		3,281	3,151	2,296
Expenses from consolidated real estate owned		6,678	11,398	50
Total operating expenses		23,350	26,180	13,896
Net income (loss)		18,740	14,214	83,472
Net (income) loss attributable to redeemable noncontrolling interests		(4,765)	(4,969)	(40,387)
Net (income) loss attributable to redeemable noncontrolling interests in subsidiaries		$ 10,399	$ 3,234	$ 39,577
Weighted-average common shares outstanding - basic (in shares)		17,199	14,686	6,601
Weighted-average common shares outstanding - diluted (in shares)	[1]	17,199	14,686	20,366
Earnings per share outstanding - basic (in dollars per share)		$ 0.60	$ 0.22	$ 6.00
Earnings per share outstanding - diluted (in dollars per share)		0.60	0.22	3.93
Dividends declared per common share (in dollars per share)		$ 2.7400	$ 2.0000	$ 1.9000
Series A Preferred Stock
Operating expenses
Net (income) loss attributable to series A preferred shareholders		$ (3,496)	$ (3,512)	$ (3,508)
Series B Preferred Stock
Operating expenses
Net (income) loss attributable to series A preferred shareholders		(80)	0	0
CMBS Structured Pass Through Certificates
Other income (loss)
Debt securities, trading, unrealized gain (loss)		1,533	(12,664)	(483)
Common Stock
Other income (loss)
Change in unrealized gain (loss) on common stock investments		(16,736)	(5,196)	13,834
Preferred stock investments, at fair value
Other income (loss)
Change in unrealized gain (loss) on common stock investments		266	0	0
MSCR Notes
Other income (loss)
Debt securities, trading, unrealized gain (loss)		65	(53)	0
Collateralized Mortgage-Backed Securities
Other income (loss)
Debt securities, trading, unrealized gain (loss)		467	(1,230)	0
Variable Interest Entity, Primary Beneficiary
Other income (loss)
Change in net assets related to consolidated CMBS variable interest entities		38,213	10,239	57,618
Debt securities, trading, unrealized gain (loss)		(2,414)	(25,627)	29,838
Redeemable Noncontrolling Interests
Operating expenses
Net (income) loss attributable to redeemable noncontrolling interests		(4,765)	(4,969)	(40,387)
Subsidiaries
Operating expenses
Net (income) loss attributable to redeemable noncontrolling interests		$ 0	$ (2,499)	$ 0

[1] Diluted EPS calculations were higher than basic EPS and thus anti-dilutive for the years ended December 31, 2023 and 2022, respectively. As such, the Company is presenting diluted EPS as equal to basic EPS.