Welcome to our dedicated page for Orchid Is Cap news (Ticker: ORC), a resource for investors and traders seeking the latest updates and insights on Orchid Is Cap 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.
Bimini Capital Management reported a net loss of $0.6 million, or $0.05 per share, for Q4 2021. The book value per share stands at $3.08. Advisory service revenues increased by 66% year-over-year, driven by Orchid's strong capital growth, which raised approximately $115.5 million in net proceeds. However, the Agency RMBS portfolio saw a 6% decrease, with mark-to-market losses of around $1.9 million. Overall, Bimini anticipates rising funding costs in 2022 due to changing economic conditions linked to Fed policies.
Orchid Island Capital (NYSE:ORC) announced a net loss of $44.6 million, or $0.27 per share, for Q4 2021, compared to a net income of $16.5 million in the same quarter last year. The net interest income was $42.4 million, with total expenses of $4.4 million. The company declared dividends of $0.195 per share, totaling $0.78 for the full year. As of year-end, the book value per share was $4.34, reflecting a 4.9% economic loss. Market conditions were challenging due to rising interest rates and volatility, leading to significant mark-to-market losses on RMBS investments.
Orchid Island Capital, Inc. (NYSE: ORC) announced a monthly cash dividend of $0.055 per share for February 2022. This dividend will be paid on March 29, 2022, to shareholders on record as of February 28, 2022, with an ex-dividend date of February 25, 2022. The company is committed to announcing its next dividend on March 16, 2022. As a REIT, Orchid Island must distribute at least 90% of its taxable income to avoid income tax; however, they have not guaranteed future distributions.
Bimini Capital Management, Inc. (OTCQB:BMNM) will release its fourth quarter 2021 results on March 10, 2022, after trading ends. An earnings conference call and live audio webcast will take place on March 11, 2022, at 10:00 AM ET. Interested participants can find dial-in information and access the webcast via the company’s investor relations page. Bimini primarily invests in residential mortgage-related securities and manages Orchid Island Capital, Inc. (NYSE:ORC) as its external manager.
Orchid Island Capital (NYSE:ORC) announced the release of its fourth quarter 2021 results on February 24, 2022, after market close. An earnings conference call is scheduled for February 25, 2022, at 10:00 AM ET, accessible via phone at 888-510-2356 or through a live audio webcast on the company’s website. Orchid specializes in investing in Agency RMBS and is managed by Bimini Advisors, LLC. More details can be found on their official website.
Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly cash dividend of $0.055 per share for January 2022, payable on February 24, 2022. The estimated book value per share as of December 31, 2021, is $4.34. The company reported an estimated net loss of $0.27 per share for the quarter, which includes $0.49 per share in realized and unrealized losses. The total return on equity for the quarter stands at (4.9)%. This decline is attributed to a compression in net interest margins and changes in the economic climate.
Orchid Island Capital, Inc. (NYSE: ORC) announced a monthly cash dividend of $0.065 per share for December 2021, payable on January 27, 2022, to shareholders of record by December 31, 2021. The ex-dividend date is December 30, 2021. Additionally, the company has increased its stock repurchase program by 16,861,994 shares, now totaling 17,699,305 shares available for buyback, representing 10% of its outstanding shares. This program aims to enhance shareholder value while complying with REIT distribution requirements.
On November 16, 2021, Orchid Island Capital (NYSE: ORC) and Bimini Capital (OTCQB: BMNM) announced a Third Amendment to their Management Agreement, allowing for internalization of funding and custody operations. Bimini will terminate its arrangements with AVM, taking over repurchase agreement trading and administrative services. As part of this transition, Bimini hired Patrick Doyle, effective December 1, 2021, to lead these services. This move aims to enhance operational efficiency and liquidity management for both Orchid and Bimini.
Orchid Island Capital (NYSE: ORC) and Bimini Capital announced a Third Amendment to their management agreement, effective November 16, 2021. The amendment facilitates the internalization of funding and custody operations, transitioning from AVM to Bimini Advisors as the manager. Bimini will assume repurchase agreement services and has hired Patrick Doyle to oversee these functions. Bimini aims to enhance operational efficiency and liquidity management through this strategic move.
Orchid Island Capital announced a monthly cash dividend of $0.065 per common share for November 2021, payable on December 29, 2021. Holders of record will be those on November 30, 2021, with an ex-dividend date of November 29, 2021. The company intends to maintain regular monthly distributions while adhering to REIT regulations, which require distributing at least 90% of taxable income. As of November 9, 2021, there are 169,162,849 shares outstanding, reflecting an increase from previous months.