What is Orchid Island Capital’s (ORC) estimated book value per share as of June 30, 2026?

Orchid Island Capital estimates book value per share at $7.22 as of June 30, 2026. According to the company, this is based on approximately $1.4 billion of stockholders’ equity and 199,603,438 common shares outstanding, with all figures preliminary and subject to review.

How much estimated GAAP net income per share did Orchid Island Capital (ORC) report for Q2 2026?

Orchid Island Capital estimates GAAP net income of $0.44 per share for Q2 2026. According to the company, this includes about $0.18 per share of net realized and unrealized gains on RMBS and derivative instruments and is preliminary and subject to change.

Orchid Island Capital Announces Estimated Second Quarter 2026 Results and June 30, 2026 RMBS Portfolio Characteristics

Q: What is Orchid Island Capital’s (ORC) estimated total return on equity for the quarter ended June 30, 2026?

Orchid Island Capital estimates a 6.2% total return on equity for Q2 2026. According to the company, this equals $0.44 per share, combining $0.30 in dividends declared and a $0.14 increase in book value per share during the quarter.

Q: How do Orchid Island Capital’s (ORC) Q2 2026 dividends compare with estimated net income per share?

For Q2 2026, Orchid Island Capital declared dividends of $0.30 per share versus estimated GAAP net income of $0.44 per share . According to the company, net income can differ from REIT taxable income, which it views as a better indicator for dividend capacity.

Q: How many Orchid Island Capital (ORC) shares were outstanding at June 30, 2026?

Orchid Island Capital reports 199,603,438 common shares outstanding at June 30, 2026 and July 13, 2026. According to the company, this compares with 196,700,226 shares outstanding at March 31, 2026, reflecting an increase in the share count during the quarter.

Q: Are Orchid Island Capital’s (ORC) Q2 2026 estimates for book value and earnings final?

No, the Q2 2026 figures are preliminary and subject to change . According to Orchid Island Capital, estimated book value, net income and total return on equity remain subject to review by its independent registered public accounting firm before final financial statements are issued.

Rhea-AI Impact

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Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

Orchid Island Capital (NYSE: ORC) reported preliminary second quarter 2026 metrics and RMBS portfolio characteristics as of June 30, 2026. The company estimates a book value per share of $7.22, based on approximately $1.4 billion in total stockholders’ equity and 199,603,438 common shares outstanding.

Estimated GAAP net income was $0.44 per share for the quarter, including about $0.18 per share of net realized and unrealized gains on RMBS and derivative instruments, compared with total dividends declared of $0.30 per share. Orchid Island Capital calculates an estimated total return on equity of 6.2% for the quarter, or $0.44 per share, comprising dividends of $0.30 and a $0.14 increase in book value per share. Shares outstanding rose from 196,700,226 on March 31, 2026 to 199,603,438 on June 30 and July 13, 2026. All figures are preliminary, subject to change, and subject to review by the independent registered public accounting firm.

Positive

Estimated book value per share of $7.22 at June 30, 2026
Estimated GAAP net income of $0.44 per share for Q2 2026
Net realized and unrealized gains of $0.18 per share on RMBS and derivatives
Total return on equity estimated at 6.2% for Q2 2026
Total return per share of $0.44, exceeding $0.30 dividends declared in Q2 2026
Book value per share increase of $0.14 during the quarter

Negative

None.

News Explained

The July 13 release updates preliminary per-share values and share counts, but does not establish a committed issuance or dilution.

On July 13, 2026, Orchid Island Capital announced estimated second-quarter results and June 30 portfolio characteristics; the results remain preliminary, subject to change, and subject to review by its independent registered public accounting firm, while the release reports 199,603,438 shares of common stock outstanding.

The company reported 199,603,438 shares outstanding on both June 30, 2026 and July 13, 2026, versus 196,700,226 shares on March 31, 2026.

For book value per share, the company defines the measure as total stockholders’ equity divided by total outstanding common shares; its estimated $7.22 per-share value therefore uses the reported share count and approximately $1.4 billion of preliminary equity.

The supplied dilution definition applies if additional shares were issued: absent offsetting changes, existing holders’ percentage ownership would be reduced, but this release reports the share counts without stating an issuance mechanism.

News Market Reaction – ORC

+1.64%

+1.64% Session close to close

In the Jul 14 session, ORC gained 1.64%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Orchid Island’s estimate of $0.44 GAAP net income per share and a 6.2% Q2 total return on equity spo...

Analysis

Orchid Island’s estimate of $0.44 GAAP net income per share and a 6.2% Q2 total return on equity spotlights solid coverage of its quarterly $0.30 dividend. Investors may watch the audited results and any use of the effective S-3 shelf for additional issuance risk.

Key Figures

Book value per share: $7.22 Shares outstanding: 199,603,438 Shares outstanding: 196,700,226 +5 more

8 metrics

Book value per share $7.22 Estimated as of June 30, 2026

Shares outstanding 199,603,438 As of July 13 and June 30, 2026

Shares outstanding 196,700,226 As of March 31, 2026

Total stockholders’ equity $1.4 billion Preliminary estimate at June 30, 2026

GAAP net income per share $0.44 Estimated for quarter ended June 30, 2026

Net gains on RMBS and derivatives $0.18 per share Estimated realized and unrealized gains in Q2 2026

Dividends declared $0.30 per share Total for quarter ended June 30, 2026

Total return on equity 6.2% Estimated for quarter ended June 30, 2026

Previous Earnings Reports

5 past events · Latest: Apr 23 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 23	Q1 2026 results	Negative	+3.1%	Reported Q1 2026 net loss with dividend maintained and detailed leverage metrics.
Jan 29	Q4 2025 results	Positive	-5.7%	Q4 2025 net income, solid book value and liquidity with sizeable RMBS portfolio.
Jan 14	Q4 2025 estimates	Positive	+2.8%	Preliminary Q4 2025 net income, book value and ROE estimates with portfolio update.
Oct 23	Q3 2025 results	Positive	+2.7%	Q3 2025 net income, gains on Agency RMBS and higher book value per share.
Jul 24	Q2 2025 results	Negative	+1.5%	Challenging Q2 2025 with net loss, portfolio losses and negative total return.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings-related headlines have often produced mixed or contrary price reactions relative to the apparent tone of the results.

Key Terms

gaap, reit, investment company act of 1940, repurchase agreement

4 terms

gaap financial

"Net income per common share calculated under generally accepted accounting principles can, and does, differ"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

reit financial

"Net income per common share calculated under generally accepted accounting principles can, and does, differ from our real estate investment trust ("REIT") taxable income."

A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

investment company act of 1940 regulatory

"Investment Company Act of 1940 (Whole Pool) Test ResultsRepurchase Agreement Exposure"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

repurchase agreement financial

"Repurchase Agreement Exposure by CounterpartyRMBS Risk Measures"

A repurchase agreement is a short-term loan in which one party sells a financial security (often government bonds) to another with a promise to buy it back at a slightly higher price on a set future date. Think of it like a pawn-shop loan using safe securities as collateral; it matters to investors because these agreements are a core way banks and funds get quick cash, influence short-term interest rates, and create exposure to counterparty and liquidity risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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07/13/2026 - 04:12 PM

Estimated Book Value Per Share as of June 30, 2026 of $7.22
Estimated GAAP net income of $0.44 per share for the quarter ended June 30, 2026 including an estimated $0.18 per share of net realized and unrealized gains on RMBS and derivative instruments
Estimated 6.2% total return on equity for the quarter ended June 30, 2026
Estimated book value, net income and total return on equity amounts are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm
RMBS Portfolio Characteristics as of June 30, 2026

Vero Beach, Fla., July 13, 2026 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the “Company”) (NYSE: ORC) announced today its estimated second quarter of 2026 results and portfolio characteristics as of June 30, 2026.

Shares Outstanding

As of July 13, 2026 and June 30, 2026, the Company had 199,603,438 shares of common stock outstanding. As of March 31, 2026, the Company had 196,700,226 shares of common stock outstanding.

Estimated June 30, 2026 Book Value Per Share

The Company’s estimated book value per share as of June 30, 2026 was $7.22. The Company computes book value per share by dividing total stockholders' equity by the total number of outstanding shares of common stock. At June 30, 2026, the Company's preliminary estimated total stockholders' equity was approximately $1.4 billion with 199,603,438 shares of common stock outstanding. These figures and the resulting estimated book value per share are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm.

Estimated Net Income Per Share and Realized and Unrealized Gains on RMBS and Derivative Instruments

The Company estimates it generated net income per share of $0.44 for the quarter ended June 30, 2026, which includes an estimated $0.18 per share of net realized and unrealized gains on RMBS and derivative instruments. These amounts compare to total dividends declared during the quarter of $0.30 per share. Net income per common share calculated under generally accepted accounting principles can, and does, differ from our real estate investment trust ("REIT") taxable income. The Company views REIT taxable income as a better indication of income to be paid in the form of a dividend rather than net income. Many components of REIT taxable income can only be estimated at this time and our monthly dividends declared are based on both estimates of REIT taxable income to be earned over the course of the current quarter and calendar year and a longer-term estimate of the REIT taxable income of the Company. These figures are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm.

Estimated Total Return on Equity

The Company’s estimated total return on equity for the quarter ended June 30, 2026 was 6.2%. The Company calculates total return on equity as the sum of dividends declared and paid during the quarter plus changes in book value during the quarter, divided by the Company’s stockholders’ equity at the beginning of the quarter. The total return was $0.44 per share, comprised of dividends per share of $0.30 and an increase in book value per share of $0.14 from June 30, 2026.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of June 30, 2026 are presented below. These figures are preliminary and subject to change and, with respect to figures that will appear in the Company’s financial statements and associated footnotes as of and for the quarter ended June 30, 2026, are subject to review by the Company’s independent registered public accounting firm:

RMBS Valuation Characteristics
RMBS Assets by Agency
Investment Company Act of 1940 (Whole Pool) Test Results
Repurchase Agreement Exposure by Counterparty
RMBS Risk Measures

About Orchid Island Capital, Inc.

Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon Orchid Island Capital, Inc.’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025.


RMBS Valuation Characteristics
($ in thousands)
																							Realized
																				Realized			Apr-26 -
																				Jun-26			Jun-26
										Net								Weighted		CPR			CPR
										Weighted								Average		(1-Month)			(3-Month)			Modeled Interest
	Current		Fair		% of			Current		Average								Maturity		(Reported			(Reported			Rate Sensitivity (1)
Type	Face		Value		Portfolio			Price		Coupon			GWAC			Age		(Months)		in July)			in July)			(-50 BPS)		(+50 BPS)
Fixed Rate RMBS
30yr 3.0	$	315,785	$	280,604		2.43	%		88.86		3.00	%		3.52	%		62		291		8.1	%		6.5	%	$	8,376	$	(8,497	)
30yr 3.5		37,144		33,944		0.29	%		91.39		3.50	%		4.30	%		81		260		1.7	%		3.7	%		993		(1,011	)
30yr 4.0		47,532		45,097		0.39	%		94.88		4.00	%		4.77	%		85		270		10.2	%		11.4	%		1,169		(1,208	)
30yr 4.5		436,796		422,712		3.66	%		96.78		4.50	%		5.46	%		30		326		7.6	%		6.1	%		9,135		(10,098	)
30yr 5.0		2,163,688		2,140,194		18.55	%		98.91		5.00	%		6.00	%		13		344		4.6	%		5.2	%		40,360		(47,402	)
30yr 5.5		4,030,632		4,086,306		35.41	%		101.38		5.50	%		6.45	%		13		343		6.4	%		6.6	%		60,965		(76,234	)
30yr 6.0		3,051,319		3,146,124		27.26	%		103.11		6.00	%		6.92	%		18		336		11.0	%		15.1	%		31,503		(43,625	)
30yr 6.5		1,261,375		1,317,446		11.42	%		104.45		6.50	%		7.39	%		20		334		22.2	%		22.8	%		9,259		(13,756	)
30yr 7.0		52,676		55,771		0.48	%		105.88		7.00	%		7.91	%		31		321		15.6	%		42.4	%		458		(600	)
Total Pass-Through RMBS		11,396,947		11,528,198		99.90	%		101.15		5.54	%		6.47	%		18		338		9.2	%		10.9	%		162,218		(202,431	)
Total Structured RMBS		82,573		11,966		0.10	%		14.49		3.39	%		4.59	%		139		204		7.2	%		7.0	%		63		95

Total Mortgage Assets	$	11,479,520	$	11,540,164		100.00	%				5.52	%		6.45	%		19		337		9.2	%		10.9	%	$	162,281	$	(202,336	)

				Hedge	Modeled Interest
	Notional			Period	Rate Sensitivity (1)
Hedge	Balance			End	(-50 BPS)			(+50 BPS)
3-Month SOFR Futures	$	(390,000	)	Jan-27	$	(1,950	)	$	1,950
10-Year Treasury Future(3)		(188,600	)	May-33		(6,062	)		5,854
10-Year Ultra Treasury Future(4)		(60,000	)	Feb-36		(2,628	)		2,542
ERIS SOFR Swap Futures		(10,000	)	Sep-31		(182	)		177
Swaps		(7,814,200	)	Feb-31		(160,872	)		155,615
Swaptions		(1,000,000	)	Dec-31		(2,737	)		5,001
TBA Short		(594,900	)	Jul-26		(8,005	)		10,686
Hedge Total	$	(10,057,700	)		$	(182,436	)	$	181,825
Rate Shock Grand Total					$	(20,155	)	$	(20,511	)

(1)		Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant SOFR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially.
(2)		Ten-year Treasury futures contracts were valued at prices of $109.89 at June 30, 2026. The market value of the short position was $207.3 million.
(3)		Ten-year Ultra futures contracts were valued at prices of $112.47 at June 30, 2026 The market value of the short position was $67.5 million.

RMBS Assets by Agency
($ in thousands)
			Percentage
	Fair		of
Asset Category	Value		Portfolio
As of June 30, 2026
Fannie Mae	$	6,022,656		52.2	%
Freddie Mac		5,517,509		47.8	%
Total Mortgage Assets	$	11,540,165		100.0	%

Investment Company Act of 1940 Whole Pool Test
($ in thousands)
			Percentage
	Fair		of
Asset Category	Value		Portfolio
As of June 30, 2026
Non-Whole Pool Assets	$	574,055		5.0	%
Whole Pool Assets		10,966,109		95.0	%
Total Mortgage Assets	$	11,540,164		100.0	%

Borrowings By Counterparty
($ in thousands)
						Weighted			Weighted
			% of			Average			Average
	Total		Total			Repo			Maturity		Longest
As of June 30, 2026	Borrowings		Debt			Rate			in Days		Maturity
Wells Fargo Securities, LLC	$	568,720		5.1	%		3.77	%		14	8/19/2026
Marex Capital Markets Inc.		497,411		4.5	%		3.78	%		20	7/23/2026
StoneX Financial Inc.		486,529		4.4	%		3.79	%		73	9/23/2026
Hidden Road Partners Civ US LLC		484,902		4.4	%		3.76	%		53	8/26/2026
Citigroup Global Markets Inc		483,698		4.4	%		3.76	%		29	9/21/2026
ABN AMRO Bank N.V.		477,675		4.3	%		3.76	%		24	7/27/2026
ASL Capital Markets Inc.		472,828		4.3	%		3.77	%		57	9/21/2026
The Bank of Nova Scotia		460,634		4.2	%		3.75	%		27	8/13/2026
South Street Securities, LLC		458,067		4.1	%		3.82	%		68	11/13/2026
J.P. Morgan Securities LLC		451,719		4.1	%		3.78	%		27	7/27/2026
RBC Capital Markets, LLC		445,012		4.0	%		3.82	%		27	7/27/2026
Cantor Fitzgerald & Co		424,847		3.8	%		3.76	%		24	7/24/2026
DV Securities, LLC Repo		423,823		3.8	%		3.77	%		47	8/27/2026
Banco Santander SA		413,756		3.7	%		3.77	%		14	7/20/2026
Daiwa Securities America Inc.		407,688		3.7	%		3.81	%		67	9/23/2026
Clear Street LLC		407,554		3.7	%		3.76	%		17	7/20/2026
Goldman, Sachs & Co		395,928		3.6	%		3.76	%		27	7/27/2026
Bank of Montreal		376,058		3.4	%		3.76	%		15	7/15/2026
ING Financial Markets LLC		370,344		3.3	%		3.80	%		13	7/13/2026
Brean Capital, LLC		299,159		2.7	%		3.76	%		21	7/27/2026
Mirae Asset Securities (USA) Inc.		296,573		2.7	%		3.79	%		47	8/24/2026
MUFG Securities Canada, Ltd.		268,537		2.4	%		3.75	%		30	8/4/2026
Morgan Stanley & Co. LLC		260,567		2.4	%		3.74	%		9	7/15/2026
Merrill Lynch, Pierce, Fenner & Smith		252,699		2.3	%		3.78	%		26	7/27/2026
Mitsubishi UFJ Securities (USA), Inc.		239,196		2.2	%		3.77	%		22	7/22/2026
TD Securities (USA) LLC		219,140		2.0	%		3.78	%		42	8/11/2026
Nomura Securities International, Inc.		212,865		1.9	%		3.76	%		40	8/14/2026
Mizuho Securities USA LLC		182,067		1.6	%		3.77	%		15	7/15/2026
Natixis, New York Branch		137,685		1.2	%		3.76	%		19	7/24/2026
BNP Paribas Securities Corp.		135,654		1.2	%		3.78	%		41	8/10/2026
Lucid Prime Fund, LLC		30,438		0.3	%		3.75	%		16	7/16/2026
Canyon Partners, LLC		23,899		0.2	%		3.71	%		17	7/17/2026
Mesirow Financial, Inc.		21,243		0.2	%		3.75	%		16	7/16/2026
Total Borrowings	$	11,086,915		100.0	%		3.77	%		32	11/13/2026

Contact:

Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400

FAQ

What is Orchid Island Capital’s (ORC) estimated total return on equity for the quarter ended June 30, 2026?

Orchid Island Capital estimates a 6.2% total return on equity for Q2 2026. According to the company, this equals $0.44 per share, combining $0.30 in dividends declared and a $0.14 increase in book value per share during the quarter.

How do Orchid Island Capital’s (ORC) Q2 2026 dividends compare with estimated net income per share?

For Q2 2026, Orchid Island Capital declared dividends of $0.30 per share versus estimated GAAP net income of $0.44 per share. According to the company, net income can differ from REIT taxable income, which it views as a better indicator for dividend capacity.

How many Orchid Island Capital (ORC) shares were outstanding at June 30, 2026?

Orchid Island Capital reports 199,603,438 common shares outstanding at June 30, 2026 and July 13, 2026. According to the company, this compares with 196,700,226 shares outstanding at March 31, 2026, reflecting an increase in the share count during the quarter.

Are Orchid Island Capital’s (ORC) Q2 2026 estimates for book value and earnings final?

No, the Q2 2026 figures are preliminary and subject to change. According to Orchid Island Capital, estimated book value, net income and total return on equity remain subject to review by its independent registered public accounting firm before final financial statements are issued.

What RMBS portfolio details did Orchid Island Capital (ORC) provide for June 30, 2026?

Orchid Island Capital disclosed preliminary RMBS portfolio data as of June 30, 2026. According to the company, information includes RMBS valuation characteristics, assets by agency, Investment Company Act of 1940 whole pool test results, repurchase agreement exposure by counterparty and RMBS risk measures, all subject to review.