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Orchid Island Capital Announces Estimated Third Quarter 2025 Results, October 2025 Monthly Dividend and September 30, 2025 RMBS Portfolio Characteristics

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Orchid Island Capital (NYSE: ORC) announced an October 2025 monthly cash dividend of $0.12 per share payable November 26, 2025 to holders of record October 31, 2025. The company reported an estimated book value per share of $7.33 as of September 30, 2025 based on approximately $1,086.1 million in preliminary total stockholders' equity and 148,239,401 shares outstanding.

The company estimated GAAP net income of $0.53 per share for Q3 2025, including $0.37 per share of net realized and unrealized gains on RMBS and derivatives, and an estimated total return on equity of 6.6% for the quarter. All figures are preliminary and subject to review.

Orchid Island Capital (NYSE: ORC) ha annunciato un dividendo mensile in contanti di ottobre 2025 di $0,12 per azione pagabile il 26 novembre 2025 per i detentori registrati al 31 ottobre 2025. L'azienda ha riportato una valore contabile per azione stimato di $7,33 al 30 settembre 2025 basato su circa $1.086,1 milioni di patrimonio netto iniziale e 148.239.401 azioni in circolazione.

L'azienda stima un utile netto GAAP di $0,53 per azione per il terzo trimestre 2025, includendo $0,37 per azione di plusvalenze realizzate e non realizzate su RMBS e derivati, e un rendimento totale sull'equity stimato del 6,6% per il trimestre. Tutte le cifre sono preliminari e soggette a revisione.

Orchid Island Capital (NYSE: ORC) anunció un dividendo en efectivo mensual de octubre de 2025 de $0.12 por acción pagadero el 26 de noviembre de 2025 a los accionistas registrados al 31 de octubre de 2025. La compañía informó un valor contable por acción estimado de $7.33 al 30 de septiembre de 2025 basado en aproximadamente $1.086,1 millones en patrimonio total preliminar de los accionistas y 148.239.401 acciones en circulación.

La empresa estimó un ingreso neto GAAP de $0.53 por acción para el tercer trimestre de 2025, incluyendo $0.37 por acción de ganancias netas realizadas y no realizadas en RMBS y derivados, y un rendimiento total sobre el patrimonio estimado del 6,6% para el trimestre. Todas las cifras son preliminares y están sujetas a revisión.

Orchid Island Capital (NYSE: ORC)는 2025년 10월의 월간 현금 배당금이 주당 미화 0.12달러로 2025년 11월 26일에 지급되며, 2025년 10월 31일 기준으로 주주 명부에 등재된 주주에게 지급된다고 발표했습니다. 회사는 2025년 9월 30일 기준 주당 장부가치 추정치가 7.33달러이며, 이는 약 1,086.1백만 달러의 예비 총 주주 자본과 148,239,401주 발행주식에 기초한 것입니다.

또한 회사는 2025년 3분기 GAAP 순이익을 주당 0.53달러로 추정했으며, 이는 주당 0.37달러의 RMBS 및 파생상품에 대한 순실현 및 미실현 이익을 포함하고, 분기에 대한 주주자본에 대한 총 수익률 6.6%를 예상합니다. 모든 수치는 예비적이며 검토 대상입니다.

Orchid Island Capital (NYSE: ORC) a annoncé un dividende mensuel en numéraire d'octobre 2025 de 0,12 $ par action payable le 26 novembre 2025 aux détenteurs inscrits au 31 octobre 2025. L'entreprise a déclaré une valeur comptable par action estimée de 7,33 $ au 30 septembre 2025 basée sur environ 1 086,1 millions de dollars d'actifs propres totaux préliminaires et 148 239 401 actions en circulation.

L'entreprise estimait un résultat net GAAP de 0,53 $ par action pour le troisième trimestre 2025, incluant 0,37 $ par action de gains nets réalisés et latents sur les RMBS et les dérivés, et un rendement total sur fonds propres estimé de 6,6% pour le trimestre. Toutes les valeurs sont préliminaires et sujettes à révision.

Orchid Island Capital (NYSE: ORC) kündigte eine monatliche Bardividende für Oktober 2025 von 0,12 USD je Aktie zahlbar am 26. November 2025 an die Inhaber, die am 31. Oktober 2025 registriert sind. Das Unternehmen meldete einen geschätzten Buchwert pro Aktie von 7,33 USD zum 30. September 2025 basierend auf ca. 1.086,1 Mio. USD vorläufigem Eigenkapital der Aktionäre und 148.239.401 Aktien im Umlauf.

Das Unternehmen schätzte einen GAAP-Nettoeinkommen von 0,53 USD pro Aktie für das Q3 2025, einschließlich 0,37 USD pro Aktie an realisierten und unrealisieren Gewinnen aus RMBS und Derivaten, sowie eine voraussichtliche Gesamtrendite auf Eigenkapital von 6,6% für das Quartal. Alle Zahlen sind vorläufig und dem Review unterlegen.

Orchid Island Capital (NYSE: ORC) أعلنت عن توزيعات نقدية شهرية لشهر أكتوبر 2025 قدرها 0.12 دولار للسهم قابلة للدفع في 26 نوفمبر 2025 للمساهمين المسجلين في 31 أكتوبر 2025. وأفادت الشركة بوجود قيمة دفتري للسهم مقدرة بنحو 7.33 دولار كما في 30 سبتمبر 2025 استناداً إلى حوالي 1,086.1 مليون دولار من حقوق المساهمين الأولية و148,239,401 سهم قائم.

قدرت الشركة صافي دخل GAAP بقيمة 0.53 دولار للسهم للربع الثالث من 2025، بما في ذلك 0.37 دولار للسهم من الأرباح المحققة وغير المحققة على RMBS والمشتقات، وتوقع عائد إجمالي على حقوق المساهمين مقداره 6.6% للربع. جميع الأرقام أولية وخاضعة للمراجعة.

Orchid Island Capital (NYSE: ORC) 宣布了一个 2025年10月的每月现金股息为每股0.12美元,将于2025年11月26日支付,面向登记在案的股东截至2025年10月31日。公司报告了一个 截至2025年9月30日的每股账面价值估算为7.33美元,基于约10.8611亿美元的初步股东权益总额和148,239,401股在外流通。

公司预计2025年第三季度的 按GAAP计算的每股净利润为0.53美元,其中包含 0.37美元/每股 的在 RMBS 和衍生品上的净实现与未实现收益,以及一个季度的 对股本的总回报率估计为6.6%。所有数字均为初步数据,需进一步审阅。

Positive
  • Monthly dividend declared of $0.12 per share
  • Estimated book value per share of $7.33 as of Sep 30, 2025
  • Estimated GAAP net income of $0.53 per share for Q3 2025
  • Estimated net gains of $0.37 per share from RMBS and derivatives
  • Estimated total ROE of 6.6% for the quarter ended Sep 30, 2025
Negative
  • Shares outstanding increased to 148,239,401 from 126,566,926 on Jun 30, 2025 (+17.1%), indicating dilution

Insights

Orchid Island reports preliminary Q3 metrics: steady monthly dividend, modest book value gain, and estimated quarter ROE of 6.6%.

Business mechanism: The company declared the October monthly dividend of $0.12 per share payable November 26, 2025 and reports an estimated book value per share of $7.33 as of September 30, 2025. Estimated GAAP net income was $0.53 per share for the quarter, which includes $0.37 per share of net realized and unrealized gains on RMBS and derivatives. The firm shows an estimated total return on equity of 6.6% for the quarter, comprised of $0.36 in dividends and a $0.12 per share increase in book value from June 30, 2025.

Dependencies and risks: These figures are preliminary and explicitly subject to change pending review by the independent registered public accounting firm, so final financials and tax‑basis REIT income may differ. The company notes differences between GAAP net income and REIT taxable income and warns it has not established a minimum distribution level and is not guaranteed to continue distributions. Also, outstanding share counts rose between June 30, 2025 and October 15, 2025, which dilutes per‑share metrics unless offset by earnings or book value growth.

What to watch: Confirmed audited book value and net income after the accounting review, the next dividend announcement on November 12, 2025, and any reconciliation between GAAP net income and REIT taxable income in the quarter's filings. Monitor changes in outstanding share counts and the audit's impact on the reported 6.6% ROE over the next reporting cycle.

  • October 2025 Monthly Dividend of $0.12 Per Share of Common Stock
  • Estimated Book Value Per Share as of September 30, 2025 of $7.33
  • Estimated GAAP net income of $0.53 per share for the quarter ended September 30, 2025, including an estimated $0.37 per share of net realized and unrealized gains on RMBS and derivative instruments
  • Estimated 6.6% total return on equity for the quarter ended September 30, 2025
  • 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 September 30, 2025
  • Next Dividend Announcement Expected November 12, 2025

VERO BEACH, Fla., Oct. 15, 2025 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the “Company”) (NYSE: ORC) announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of October 2025. The dividend of $0.12 per share will be paid November 26, 2025 to holders of record of the Company’s common stock on October 31, 2025, with an ex-dividend date of October 31, 2025. The Company plans on announcing its next common stock dividend on November 12, 2025.

The Company intends to make regular monthly cash distributions to its holders of common stock. In order to qualify as a real estate investment trust (“REIT”), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future.

As of October 15, 2025, the Company has 151,711,940 shares of common stock outstanding. As of September 30, 2025, the Company had 148,239,401 shares of common stock outstanding. As of June 30, 2025, the Company had 126,566,926 shares of common stock outstanding.

Estimated September 30, 2025 Book Value Per Share

The Company’s estimated book value per share as of September 30, 2025 was $7.33.  The Company computes book value per share by dividing total stockholders' equity by the total number of outstanding shares of common stock. At September 30, 2025, the Company's preliminary estimated total stockholders' equity was approximately $1,086.1 million with 148,239,401 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 a net income per share of $0.53 for the quarter ended September 30, 2025, which includes an estimated $0.37 per share of net realized and unrealized gains on RMBS and derivative instruments. These amounts compare to total dividends declared during the quarter of $0.36 per share. Net income per common share calculated under generally accepted accounting principles can, and does, differ from our 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 September 30, 2025 was 6.6%. 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 $0.48 per share, comprised of dividends per share of $0.36 and an increase in book value per share of $0.12 from June 30, 2025.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of September 30, 2025 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 September 30, 2025, 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 include, but are not limited to, statements about the Company’s distributions. 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, 2024.

 
RMBS Valuation Characteristics
($ in thousands)
                                     Realized        
                                 Realized Jul-25 -        
                                 Sep-25 Sep-25        
                 Net         Weighted CPR CPR        
                 Weighted         Average (1-Month) (3-Month) Modeled Interest
 Current Fair % of Current Average         Maturity (Reported (Reported Rate Sensitivity (1)
TypeFace Value Portfolio Price Coupon GWAC Age (Months) in Oct) in Oct) (-50 BPS) (+50 BPS)
Fixed Rate RMBS                                               
15yr 5.0 TBA$250,000  $252,715   2.94%  101.09   5.00%  5.84%  5   173   n/a   n/a  $2,828  $(3,460)
15yr Total 250,000   252,715   2.94%  101.09   5.00%  5.84%  5   173   n/a   n/a   2,828   (3,460)
30yr 3.0$834,430  $748,807   8.70%  89.74   3.00%  3.48%  55   297   7.2%  7.3% $21,717  $(21,982)
30yr 3.5 162,600   151,190   1.76%  92.98   3.50%  4.04%  67   279   4.9%  8.4%  4,077   (4,125)
30yr 4.0 156,219   148,920   1.73%  95.33   4.00%  4.70%  53   302   9.5%  8.4%  3,745   (3,920)
30yr 4.5 278,735   272,292   3.16%  97.69   4.50%  5.44%  39   317   8.6%  11.1%  5,499   (6,127)
30yr 5.0 447,224   446,473   5.19%  99.83   5.00%  5.93%  32   323   6.2%  8.2%  8,557   (9,859)
30yr 5.5 1,835,701   1,870,044   21.72%  101.87   5.50%  6.45%  11   345   6.3%  6.1%  28,021   (35,803)
30yr 6.0 2,804,917   2,892,624   33.60%  103.13   6.00%  6.94%  12   344   9.7%  10.0%  28,122   (40,190)
30yr 6.5 1,488,120   1,553,110   18.04%  104.37   6.50%  7.39%  15   340   13.9%  13.5%  9,806   (15,382)
30yr 7.0 245,769   258,440   3.00%  105.16   7.00%  7.94%  23   328   28.2%  24.3%  1,782   (2,261)
30yr Total 8,253,715   8,341,900   96.90%  101.07   5.51%  6.39%  21   334   9.7%  10.1%  111,326   (139,649)
Total Pass-Through RMBS 8,503,715   8,594,615   99.84%  101.07   5.50%  6.37%  20   329   9.7%  10.1%  114,154   (143,109)
Structured RMBS                                               
IO 20yr 4.0 5,743   473   0.01%  8.23   4.00%  4.57%  164   70   11.6%  12.5%  2   (2)
IO 30yr 3.0 2,391   318   0.00%  13.28   3.00%  3.64%  128   222   1.5%  10.6%  (1)  (1)
IO 30yr 4.0 65,885   12,316   0.14%  18.70   4.00%  4.60%  133   218   9.9%  7.7%  (286)  181 
IO 30yr 4.5 2,862   553   0.01%  19.31   4.50%  4.99%  183   164   9.1%  7.2%  (7)  3 
IO 30yr 5.0 1,503   314   0.00%  20.87   5.00%  5.37%  183   164   19.0%  12.2%  (6)  3 
IO Total 78,384   13,974   0.16%  17.83   4.01%  4.59%  138   204   10.0%  8.2%  (298)  184 
IIO 30yr 4.0 18,392   206   0.00%  1.12   0.00%  4.40%  96   252   0.6%  7.7%  115   (81)
Total Structured RMBS 96,776   14,180   0.16%  14.65   3.25%  4.56%  130   213   8.2%  8.1%  (183)  103 
                                                
Total Mortgage Assets$8,600,491  $8,608,795   100.00%      5.47%  6.35%  22   328   9.7%  10.1% $113,971  $(143,006)
                                                


    Hedge Modeled Interest
 Notional Period Rate Sensitivity (1)
HedgeBalance End (-50 BPS) (+50 BPS)
3-Month SOFR Futures$(390,000) Sep-26 $(3,413) $3,413 
5-Year Treasury Future(2) (562,500) Dec-25  (11,785)  11,521 
10-Year Treasury Future(3) (228,500) Dec-25  (7,529)  7,351 
10-Year Ultra Treasury Future(4) (197,500) Dec-25  (8,938)  8,507 
5-Year ERIS SOFR Swap Futures (10,000) Dec-25  (234)  226 
Swaps (3,943,300) Feb-31  (97,663)  94,426 
TBA Short (282,000) Oct-25  (3,295)  4,628 
Hedge Total$(5,613,800)   $(132,857) $130,072 
Rate Shock Grand Total      $(18,886) $(12,934)


(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)Five-year Treasury futures contracts were valued at prices of $109.20 at September 30, 2025. The market value of the short position was  $614.3 million.
(3)Ten-year Treasury futures contracts were valued at prices of $112.50 at September 30, 2025. The market value of the short position was $257.1 million.
(4)Ten-year Ultra futures contracts were valued at prices of $115.08 at September 30, 2025. The market value of the short position was $227.3 million.
  


RMBS Assets by Agency
($ in thousands)
     Percentage
 Fair
 of
Asset CategoryValue
 Portfolio
As of September 30, 2025       
Fannie Mae$4,741,968   56.7%
Freddie Mac 3,614,112   43.3%
Total Mortgage Assets$8,356,080   100.0%
        


Investment Company Act of 1940 Whole Pool Test 
($ in thousands)
     Percentage
 Fair of
Asset CategoryValue Portfolio
As of September 30, 2025       
Non-Whole Pool Assets$654,750   7.8%
Whole Pool Assets 7,701,330   92.2%
Total Mortgage Assets$8,356,080   100.0%
        


Borrowings By Counterparty
($ in thousands)
         Weighted Weighted  
     % of Average Average  
 Total Total Repo Maturity Longest
As of September 30, 2025Borrowings Debt Rate in Days Maturity
J.P. Morgan Securities LLC$511,662   6.4%  4.34%  20  10/23/2025
Citigroup Global Markets Inc 437,979   5.5%  4.42%  34  12/1/2025
DV Securities, LLC Repo 389,984   4.9%  4.37%  36  11/25/2025
ABN AMRO Bank N.V. 377,931   4.7%  4.25%  42  12/15/2025
Wells Fargo Securities, LLC 371,202   4.6%  4.45%  14  10/28/2025
The Bank of Nova Scotia 369,533   4.6%  4.39%  20  10/23/2025
Merrill Lynch, Pierce, Fenner & Smith 362,023   4.5%  4.34%  70  2/13/2026
ASL Capital Markets Inc. 359,654   4.5%  4.16%  126  9/21/2026
Bank of Montreal 358,926   4.5%  4.38%  30  11/28/2025
South Street Securities, LLC 344,604   4.3%  4.31%  81  8/27/2026
Goldman, Sachs & Co 337,376   4.2%  4.34%  27  10/29/2025
StoneX Financial Inc. 332,143   4.1%  4.30%  20  10/20/2025
Mirae Asset Securities (USA) Inc. 331,786   4.1%  4.29%  35  11/13/2025
Daiwa Securities America Inc. 329,915   4.1%  4.17%  135  3/23/2026
Cantor Fitzgerald & Co 319,230   4.0%  4.34%  25  10/27/2025
Clear Street LLC 307,707   3.8%  4.35%  20  10/31/2025
Marex Capital Markets Inc. 302,480   3.8%  4.32%  31  12/11/2025
RBC Capital Markets, LLC 298,220   3.7%  4.27%  56  11/25/2025
ING Financial Markets LLC 291,011   3.6%  4.32%  17  10/17/2025
Banco Santander SA 265,981   3.3%  4.38%  16  10/16/2025
MUFG Securities Canada, Ltd. 255,958   3.2%  4.38%  8  10/8/2025
Mitsubishi UFJ Securities (USA), Inc. 246,210   3.1%  4.44%  16  10/20/2025
Mizuho Securities USA LLC 207,561   2.6%  4.34%  23  10/27/2025
Nomura Securities International, Inc. 158,100   2.0%  4.41%  14  10/14/2025
Natixis, New York Branch 104,895   1.3%  4.34%  29  10/29/2025
Lucid Prime Fund, LLC 34,907   0.4%  4.34%  16  10/16/2025
Total Borrowings$8,006,978   100.0%  4.33%  39  9/21/2026
                  


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

FAQ

What dividend did Orchid Island Capital (ORC) declare for October 2025 and when is it payable?

ORC declared a monthly cash dividend of $0.12 per share for October 2025, payable November 26, 2025 to holders of record on October 31, 2025.

What was Orchid Island Capital's estimated book value per share as of September 30, 2025 (ORC)?

Estimated book value per share was $7.33 as of September 30, 2025, based on approximately $1,086.1 million in preliminary equity and 148,239,401 shares outstanding.

How much net income per share did Orchid Island Capital (ORC) estimate for Q3 2025?

ORC estimated GAAP net income of $0.53 per share for the quarter ended September 30, 2025.

How large were the estimated RMBS and derivative gains included in ORC's Q3 2025 results?

The company estimated $0.37 per share of net realized and unrealized gains on RMBS and derivative instruments for Q3 2025.

What was Orchid Island Capital's estimated total return on equity for Q3 2025 (ORC)?

Estimated total return on equity for the quarter ended September 30, 2025 was 6.6%, combining dividends and book value change.

Did Orchid Island Capital (ORC) report any significant share count changes in 2025?

Yes. Shares outstanding increased to 148,239,401 on September 30, 2025 from 126,566,926 on June 30, 2025, a rise of about 17.1%.
Orchid Is Cap Inc

NYSE:ORC

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1.06B
145.90M
0.16%
30.88%
7.69%
REIT - Mortgage
Real Estate Investment Trusts
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United States
VERO BEACH