TWO Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF STOCKHOLDERS??? EQUITY

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock Par Value	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Cumulative Earnings	Cumulative Distributions to Stockholders
Balance at beginning of period at Dec. 31, 2022	$ 2,183,525	$ 630,999	$ 864	$ 5,645,998	$ (278,711)	$ 1,453,371	$ (5,268,996)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(106,371)					(106,371)
Other comprehensive (loss) income before reclassifications	(38,584)				(38,584)
Amounts reclassified from accumulated other comprehensive loss	140,866				140,866
Other comprehensive income (loss)	102,282				102,282
Repurchase and retirement of preferred stock	(14,813)	(17,786)				2,973
Issuance of common stock, net of offering costs	275,674		172	275,502
Repurchase of common stock	(7,056)		(6)	(7,050)
Preferred dividends declared	(48,607)						(48,607)
Common dividends declared	(192,220)						(192,220)
Non-cash equity award compensation	10,976		2	10,974
Balance at end of period at Dec. 31, 2023	2,203,390	613,213	1,032	5,925,424	(176,429)	1,349,973	(5,509,823)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	298,168					298,168
Other comprehensive (loss) income before reclassifications	(150,672)				(150,672)
Amounts reclassified from accumulated other comprehensive loss	6,577				6,577
Other comprehensive income (loss)	(144,095)				(144,095)
Repurchase and retirement of preferred stock	(11,102)	(11,746)				644
Issuance of common stock, net of offering costs	244		1	243
Preferred dividends declared	(47,136)						(47,136)
Common dividends declared	(187,906)						(187,906)
Non-cash equity award compensation	10,946		4	10,942
Balance at end of period at Dec. 31, 2024	2,122,509	601,467	1,037	5,936,609	(320,524)	1,648,785	(5,744,865)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(454,300)					(454,300)
Other comprehensive (loss) income before reclassifications	234,130				234,130
Amounts reclassified from accumulated other comprehensive loss	86,307				86,307
Other comprehensive income (loss)	320,437				320,437
Issuance of common stock, net of offering costs	279		1	278
Preferred dividends declared	(52,791)						(52,791)
Common dividends declared	(159,808)						(159,808)
Non-cash equity award compensation	13,351		12	13,339
Equity awards withheld for taxes	(1,750)		(2)	(1,748)
Balance at end of period at Dec. 31, 2025	$ 1,787,927	$ 601,467	$ 1,048	$ 5,948,478	$ (87)	$ 1,194,485	$ (5,957,464)