Orchid Island Capital Announces October 2026 Monthly Dividend, Estimated Third Quarter Results and September 30, 2026 RMBS Portfolio Characteristics
Estimated third-quarter total return on equity was (12.5)%, including quarterly dividends and a decrease in book value.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Orchid Island Capital (ORC) declared an October monthly dividend of $0.10 per share, payable November 27, 2026. The record and ex-dividend dates are October 30, 2026.
For the quarter ended September 30, 2026, the company estimates a GAAP net loss of $0.90 per share, including $1.17 per share of realized and unrealized losses on residential mortgage-backed securities and derivatives. Estimated book value was $6.02 per share, down $1.20 from June 30. Estimated total return on equity was (12.5)%, including $0.30 per share in quarterly dividends. These estimates are preliminary, subject to change and accounting-firm review.
September 30 borrowings totaled $10,361,717 thousand, with a 3.99% weighted average repurchase agreement rate and 26-day weighted average maturity. Illustrative portfolio-and-hedge modeling showed losses under both upward and downward interest-rate shocks.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- None.
Negative
- Moderate pointEstimated third-quarter GAAP net loss was $0.90 per share.
- Moderate pointEstimated September 30 book value fell $1.20 per share from June 30 to $6.02.
- Minor pointEstimated third-quarter securities and derivatives realized and unrealized losses totaled $1.17 per share.
- Minor pointEstimated third-quarter total return on equity was (12.5)%, including $0.30 per share in dividends.
- Minor pointFinancial estimates remain preliminary, subject to change and accounting-firm review.
2 minor points
- Minor pointSeptember 30 borrowings totaled $10,361,717 thousand, at a 3.99% weighted average rate and 26-day weighted average maturity.
- Minor point. Forward-looking: it has not happened yet and may not happen.Illustrative combined portfolio-and-hedge losses were $4,159 thousand at −50 basis points and $21,035 thousand at +50 basis points.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- October 2026 Monthly Dividend of
$0.10 Per Share of Common Stock - Estimated Book Value Per Share as of September 30, 2026 of
$6.02 - Estimated GAAP net loss of
$0.90 per share for the quarter ended September 30, 2026 including an estimated$1.17 per share of net realized and unrealized losses on RMBS and derivative instruments - Estimated (12.5)% total return on equity for the quarter ended September 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 September 30, 2026
- Next Dividend Announcement Expected November 10, 2026
VERO BEACH, Fla., Oct. 14, 2026 (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 2026. The dividend of
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
As of October 14, 2026, the Company had 192,992,160 shares of common stock outstanding. As of September 30, 2026, the Company had 194,661,864 shares of common stock outstanding. As of June 30, 2026, the Company had 199,603,438 shares of common stock outstanding.
Estimated September 30, 2026 Book Value Per Share
The Company’s estimated book value per share as of September 30, 2026 was
Estimated Net Loss Per Share and Realized and Unrealized Losses on RMBS and Derivative Instruments
The Company estimates it generated a net loss per share of
Estimated Total Return on Equity
The Company’s estimated total return on equity for the quarter ended September 30, 2026 was (12.5)%. 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
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of September 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 September 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 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, 2025.
| RMBS Valuation Characteristics | ||||||||||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
| Realized | ||||||||||||||||||||||||||||||||||||||||||||||||
| Realized | Jul-26 - | |||||||||||||||||||||||||||||||||||||||||||||||
| Sep-26 | Sep-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 October) | in October) | (-50 BPS) | (+50 BPS) | ||||||||||||||||||||||||||||||||||||
| Fixed Rate RMBS | ||||||||||||||||||||||||||||||||||||||||||||||||
| 15yr 5.5 TBA | $ | 100,000 | $ | 98,523 | 0.92 | % | 98.52 | 5.50 | % | 6.23 | % | 16 | 158 | n/a | n/a | $ | 1,439 | $ | (1,577 | ) | ||||||||||||||||||||||||||||
| 15yr Total | 100,000 | 98,523 | 0.92 | % | 98.52 | 5.50 | % | 6.23 | % | 16 | 158 | n/a | n/a | 1,439 | (1,577 | ) | ||||||||||||||||||||||||||||||||
| 30yr 3.0 | $ | 307,711 | $ | 255,076 | 2.37 | % | 82.89 | 3.00 | % | 3.52 | % | 65 | 287 | 6.4 | % | 6.8 | % | $ | 7,846 | $ | (7,876 | ) | ||||||||||||||||||||||||||
| 30yr 3.5 | 35,638 | 30,343 | 0.28 | % | 85.14 | 3.50 | % | 4.30 | % | 84 | 256 | 0.8 | % | 12.4 | % | 916 | (921 | ) | ||||||||||||||||||||||||||||||
| 30yr 4.0 | 46,150 | 41,201 | 0.38 | % | 89.28 | 4.00 | % | 4.77 | % | 88 | 267 | 2.2 | % | 5.9 | % | 1,128 | (1,148 | ) | ||||||||||||||||||||||||||||||
| 30yr 4.5 | 427,974 | 387,972 | 3.60 | % | 90.65 | 4.50 | % | 5.46 | % | 33 | 322 | 7.8 | % | 6.3 | % | 9,806 | (10,308 | ) | ||||||||||||||||||||||||||||||
| 30yr 5.0 | 2,131,841 | 1,982,310 | 18.41 | % | 92.99 | 5.00 | % | 6.00 | % | 16 | 340 | 4.4 | % | 4.3 | % | 47,553 | (51,079 | ) | ||||||||||||||||||||||||||||||
| 30yr 5.5 | 3,951,938 | 3,792,066 | 35.22 | % | 95.95 | 5.50 | % | 6.45 | % | 16 | 339 | 5.9 | % | 5.9 | % | 81,445 | (88,448 | ) | ||||||||||||||||||||||||||||||
| 30yr 6.0 | 2,956,605 | 2,917,260 | 27.10 | % | 98.67 | 6.00 | % | 6.92 | % | 21 | 333 | 11.2 | % | 10.6 | % | 52,681 | (58,689 | ) | ||||||||||||||||||||||||||||||
| 30yr 6.5 | 1,185,661 | 1,200,245 | 11.15 | % | 101.23 | 6.50 | % | 7.39 | % | 23 | 331 | 14.7 | % | 18.3 | % | 18,000 | (20,745 | ) | ||||||||||||||||||||||||||||||
| 30yr 7.0 | 47,911 | 49,213 | 0.46 | % | 102.72 | 7.00 | % | 7.91 | % | 34 | 318 | 7.7 | % | 25.5 | % | 734 | (838 | ) | ||||||||||||||||||||||||||||||
| Total Pass-Through RMBS | 11,191,429 | 10,754,209 | 99.89 | % | 96.09 | 5.53 | % | 6.46 | % | 21 | 333 | 8.0 | % | 8.4 | % | 221,548 | (241,629 | ) | ||||||||||||||||||||||||||||||
| Total Structured RMBS | 78,937 | 11,383 | 0.11 | % | 14.42 | 3.41 | % | 4.59 | % | 142 | 201 | 8.2 | % | 7.4 | % | (21 | ) | (2 | ) | |||||||||||||||||||||||||||||
| Total Mortgage Assets | $ | 11,270,366 | $ | 10,765,592 | 100.00 | % | 5.51 | % | 6.45 | % | 22 | 332 | 8.0 | % | 8.4 | % | $ | 221,527 | $ | (241,631 | ) | |||||||||||||||||||||||||||
| Hedge | Modeled Interest | ||||||||||||
| Notional | Period | Rate Sensitivity (1) | |||||||||||
| Hedge | Balance | End | (-50 BPS) | (+50 BPS) | |||||||||
| 3-Month SOFR Futures | $ | (390,000 | ) | Mar-27 | $ | (1,219 | ) | $ | 1,219 | ||||
| 10-Year Treasury Future(2) | (858,600 | ) | Aug-33 | (25,898 | ) | 25,965 | |||||||
| 10-Year Ultra Treasury Future(3) | (560,000 | ) | May-36 | (22,643 | ) | 21,632 | |||||||
| 30-Year Ultra Treasury Futures (4) | (150,000 | ) | Nov-52 | (11,916 | ) | 12,000 | |||||||
| ERIS SOFR Swap Futures | (10,000 | ) | Dec-31 | (165 | ) | 161 | |||||||
| Swaps | (7,864,200 | ) | Jun-31 | (154,990 | ) | 149,893 | |||||||
| TBA Short | (415,000 | ) | Oct-26 | (8,855 | ) | 9,726 | |||||||
| Hedge Total | $ | (10,247,800 | ) | $ | (225,686 | ) | $ | 220,596 | |||||
| Rate Shock Grand Total | $ | (4,159 | ) | $ | (21,035 | ) | |||||||
| (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 |
| (3 | ) | Ten-year Ultra Treasury futures contracts were valued at prices of |
| (4 | ) | 30-year Ultra Treasury futures contracts were valued at prices of |
| RMBS Assets by Agency | ||||||||
| ($ in thousands) | ||||||||
| Percentage | ||||||||
| Fair | of | |||||||
| Asset Category | Value | Portfolio | ||||||
| As of September 30, 2026 | ||||||||
| Fannie Mae | $ | 5,557,221 | 52.1 | % | ||||
| Freddie Mac | 5,109,848 | 47.9 | % | |||||
| Total Mortgage Assets | $ | 10,667,069 | 100.0 | % | ||||
| Investment Company Act of 1940 Whole Pool Test | ||||||||
| ($ in thousands) | ||||||||
| Percentage | ||||||||
| Fair | of | |||||||
| Asset Category | Value | Portfolio | ||||||
| As of September 30, 2026 | ||||||||
| Non-Whole Pool Assets | $ | 422,581 | 4.0 | % | ||||
| Whole Pool Assets | 10,244,488 | 96.0 | % | |||||
| Total Mortgage Assets | $ | 10,667,069 | 100.0 | % | ||||
| Borrowings By Counterparty | |||||||||||||||||
| ($ in thousands) | |||||||||||||||||
| Weighted | Weighted | ||||||||||||||||
| % of | Average | Average | |||||||||||||||
| Total | Total | Repo | Maturity | Longest | |||||||||||||
| As of September 30, 2026 | Borrowings | Debt | Rate | in Days | Maturity | ||||||||||||
| Citigroup Global Markets Inc | $ | 466,497 | 4.5 | % | 4.00 | % | 20 | 10/21/2026 | |||||||||
| Hidden Road Partners Civ US LLC | 455,496 | 4.4 | % | 4.03 | % | 47 | 11/16/2026 | ||||||||||
| ABN AMRO Bank N.V. | 447,423 | 4.3 | % | 3.98 | % | 19 | 10/19/2026 | ||||||||||
| StoneX Financial Inc. | 438,071 | 4.2 | % | 4.00 | % | 23 | 10/23/2026 | ||||||||||
| Marex Capital Markets Inc. | 436,606 | 4.2 | % | 4.00 | % | 29 | 10/29/2026 | ||||||||||
| ASL Capital Markets Inc. | 433,149 | 4.2 | % | 3.99 | % | 20 | 10/21/2026 | ||||||||||
| South Street Securities, LLC | 428,723 | 4.1 | % | 4.10 | % | 181 | 9/3/2027 | ||||||||||
| The Bank of Nova Scotia | 423,924 | 4.1 | % | 3.99 | % | 16 | 10/16/2026 | ||||||||||
| J.P. Morgan Securities LLC | 423,315 | 4.1 | % | 4.01 | % | 19 | 10/19/2026 | ||||||||||
| Banco Santander SA | 402,148 | 3.9 | % | 3.85 | % | 13 | 10/13/2026 | ||||||||||
| Cantor Fitzgerald & Co | 400,692 | 3.9 | % | 3.99 | % | 16 | 10/16/2026 | ||||||||||
| DV Securities, LLC Repo | 396,961 | 3.8 | % | 3.92 | % | 10 | 10/16/2026 | ||||||||||
| Clear Street LLC | 383,783 | 3.7 | % | 3.99 | % | 19 | 10/19/2026 | ||||||||||
| Daiwa Securities America Inc. | 381,829 | 3.7 | % | 4.00 | % | 21 | 10/23/2026 | ||||||||||
| Wells Fargo Securities, LLC | 371,748 | 3.6 | % | 3.99 | % | 1 | 10/1/2026 | ||||||||||
| Goldman, Sachs & Co | 370,088 | 3.6 | % | 4.00 | % | 1 | 10/1/2026 | ||||||||||
| Brean Capital, LLC | 346,653 | 3.3 | % | 3.99 | % | 20 | 10/26/2026 | ||||||||||
| ING Financial Markets LLC | 340,561 | 3.3 | % | 3.97 | % | 14 | 10/14/2026 | ||||||||||
| RBC Capital Markets, LLC | 328,157 | 3.2 | % | 4.02 | % | 16 | 10/26/2026 | ||||||||||
| TD Securities (USA) LLC | 313,342 | 3.0 | % | 3.97 | % | 15 | 10/15/2026 | ||||||||||
| Mirae Asset Securities (USA) Inc. | 278,527 | 2.7 | % | 3.99 | % | 21 | 10/21/2026 | ||||||||||
| Morgan Stanley & Co. LLC | 277,755 | 2.7 | % | 4.00 | % | 29 | 10/30/2026 | ||||||||||
| MUFG Securities Canada, Ltd. | 246,298 | 2.4 | % | 3.99 | % | 16 | 10/16/2026 | ||||||||||
| Mitsubishi UFJ Securities (USA), Inc. | 226,333 | 2.2 | % | 4.00 | % | 19 | 10/19/2026 | ||||||||||
| Mesirow Financial, Inc. | 221,428 | 2.1 | % | 3.99 | % | 18 | 10/23/2026 | ||||||||||
| Merrill Lynch, Pierce, Fenner & Smith | 201,307 | 1.9 | % | 4.01 | % | 28 | 10/28/2026 | ||||||||||
| Nomura Securities International, Inc. | 200,018 | 1.9 | % | 3.97 | % | 14 | 10/14/2026 | ||||||||||
| Natixis, New York Branch | 176,921 | 1.7 | % | 4.01 | % | 16 | 10/16/2026 | ||||||||||
| Mizuho Securities USA LLC | 171,766 | 1.7 | % | 3.99 | % | 16 | 10/16/2026 | ||||||||||
| Bank of Montreal | 170,860 | 1.6 | % | 4.02 | % | 26 | 10/26/2026 | ||||||||||
| BNP Paribas Securities Corp. | 150,098 | 1.4 | % | 4.01 | % | 26 | 10/26/2026 | ||||||||||
| Lucid Prime Fund, LLC | 29,110 | 0.3 | % | 3.99 | % | 15 | 10/15/2026 | ||||||||||
| Canyon Partners, LLC | 22,130 | 0.2 | % | 3.93 | % | 14 | 10/14/2026 | ||||||||||
| Total Borrowings | $ | 10,361,717 | 100.0 | % | 3.99 | % | 26 | 9/3/2027 | |||||||||
Contact:
Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When will Orchid Island Capital pay its October 2026 dividend, and how much is it?
Orchid Island Capital will pay its October dividend of $0.10 per common share on November 27, 2026. The dividend is payable to holders of record on October 30, 2026, which is also the ex-dividend date.
What were ORC's estimated third-quarter 2026 results?
ORC estimates a GAAP net loss of $0.90 per share for the quarter ended September 30, 2026. Estimated book value was $6.02 per share, and estimated total return on equity was (12.5)%. The estimates are preliminary, subject to change and review by the company's independent registered public accounting firm.
How does Orchid Island Capital determine its monthly dividends?
Orchid Island Capital bases monthly dividend declarations on estimated REIT taxable income for the current quarter and calendar year, together with a longer-term estimate. The company views taxable income as a better indication of income available for dividends than GAAP net income. Many components of taxable income can only be estimated at this stage.
What assumptions underlie ORC's September 2026 interest-rate sensitivity estimates?
The illustrative sensitivity estimates assume instantaneous parallel interest-rate shifts, with horizon prices calculated using constant SOFR option-adjusted spreads. The modeled results come from Citigroup Global Markets' Yield Book. Actual results may differ materially from these illustrative estimates.