Welcome to our dedicated page for Orchid Island Capital news (Ticker: ORC), a resource for investors and traders seeking the latest updates and insights on Orchid Island Capital stock.
Orchid Island Capital, Inc. reports news as a mortgage REIT and specialty finance company investing on a leveraged basis in Agency residential mortgage-backed securities. Its portfolio includes traditional pass-through Agency RMBS and structured Agency RMBS, including collateralized mortgage obligations and other structured securities issued or guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
Recurring updates cover monthly common-stock dividends, REIT distribution considerations, RMBS portfolio characteristics, book value estimates, quarterly operating results, net interest income, derivative gains or losses, interest rate swaps, liquidity, repurchase agreement funding and lender capacity. The company is managed by Bimini Advisors, LLC, a registered investment adviser.
Orchid Island Capital, Inc. (NYSE: ORC) reported that stockholders of record as of August 31, 2022, did not receive the full cash dividend of $0.16 per share, which was due on September 28, 2022. The company had fully funded the dividend; however, an administrative error at the DTC caused brokers not to receive the complete amount. Orchid Island Capital is actively resolving the issue. The Company focuses on investing in Agency RMBS and is managed by Bimini Advisors, LLC.
Orchid Island Capital, Inc. (NYSE: ORC) declared a monthly cash dividend of $0.16 per share for September 2022, payable on October 27, 2022, to shareholders of record as of September 30, 2022. The ex-dividend date is set for September 29, 2022. The Company plans to announce its next dividend on October 12, 2022. As a REIT, Orchid is required to distribute at least 90% of its taxable income to avoid income tax on undistributed earnings. As of September 12, 2022, the Company had 35,075,239 shares of common stock outstanding.
Orchid Island Capital, a real estate investment trust (REIT), has completed a 1-for-5 reverse stock split effective at 5:00 p.m. ET today. This adjustment will reduce the outstanding shares from approximately 176.25 million to about 35.25 million, with authorized shares for common stock decreasing from 500 million to 100 million. The stock will trade under the symbol 'ORC' on a reverse-split basis starting August 31, 2022. No fractional shares will be issued; cash payments will be provided instead. Shareholder ownership percentages remain largely unchanged.
Orchid Island Capital, Inc. (NYSE: ORC) announced a one-for-five reverse stock split effective August 30, 2022, converting every five shares into one, with shares trading split-adjusted from August 31, 2022. Additionally, the company declared a monthly cash dividend of $0.16 per share for August, payable on September 28, 2022, to holders of record as of August 31, 2022. The estimated book value per share ranges from $3.10 to $3.12, reflecting an increase of approximately 8.0% to 8.7% compared to June 30, 2022. The company will announce its next dividend on September 12, 2022.
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Orchid Island Capital (NYSE:ORC) reported a net loss of $60.1 million, or $0.34 per share, for Q2 2022, reflecting significant challenges amid rising interest rates and inflation. The company declared a dividend of $0.135 per share, with a book value per share decreasing to $2.87. The Agency RMBS portfolio shrank to $3.9 billion from $6.5 billion, alongside a reduced net interest spread of 2.51%. Economic conditions led to unrealized losses of $82.3 million on RMBS and derivatives. Looking ahead, management anticipates potential outperformance from the Agency RMBS sector despite ongoing challenges.
Bimini Capital Management (BMNM) will announce its second quarter 2022 results on August 11, 2022, after market close. An earnings conference call will take place the following day, August 12, 2022, at 10:00 AM ET, accessible via live audio webcast or dial-in registration. Bimini primarily invests in residential mortgage-related securities and serves as the external manager for Orchid Island Capital (ORC), a real estate investment trust. Bimini's management strategy aims at maximizing the yield spread on its assets.
Orchid Island Capital, Inc. (NYSE:ORC) has announced it will release its second quarter 2022 results on August 4, 2022, after the stock market closes. An earnings conference call will take place on August 5, 2022, at 10:00 AM ET. Investors can access the call by dialing 888-510-2356 and using conference ID 8493186. Additionally, a live audio webcast will be available on the company's investor relations website, with an archive accessible until September 4, 2022.
Orchid Island Capital (NYSE: ORC) declared a monthly cash dividend of $0.045 per share for July 2022, payable on August 29, 2022. The estimated book value per share as of June 30, 2022, is $2.87, while the company reported an estimated net loss of $0.34 per share, attributed to $0.46 of net losses on RMBS and derivatives. The estimated total return on equity was (10.0)% for the quarter. Orchid Island aims to distribute 90% of its REIT taxable income to avoid tax penalties but has not guaranteed future distributions.
Orchid Island Capital announced a monthly cash dividend of $0.045 per share for June 2022, with payment scheduled for July 27, 2022. Shareholders on record as of June 30, 2022 will receive this dividend, while the ex-dividend date is set for June 29, 2022. The company plans to announce its next dividend on July 13, 2022. As a REIT, it is required to distribute at least 90% of its taxable income annually to avoid income tax issues. However, the company has not guaranteed future distributions.