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.
Orchid Island Capital, Inc. (NYSE: ORC) has declared a monthly cash dividend of $0.065 per share for May 2021, payable on June 28, 2021. Holders of record as of May 28, 2021 will receive this dividend, with an ex-dividend date of May 27, 2021. The Company aims to maintain regular monthly cash distributions to meet its obligations as a real estate investment trust (REIT), which mandates distributing at least 90% of its taxable income. As of May 12, 2021, Orchid has 95,262,758 shares outstanding.
Orchid Island Capital (NYSE:ORC) reported a net loss of $29.4 million for Q1 2021, equating to $0.34 per share. Key highlights include net interest income of $24.9 million and total expenses of $3.5 million. The company declared dividends of $0.195 per common share, with a book value of $4.94 per share as of March 31, 2021. The total return was -6.0%, driven by a $0.52 decline in book value per share. Orchid's portfolio adjustments led to a decrease in prepayment speeds from 20.1% to 12.0%. Management expects improved yield performance in the current higher rate environment.
Orchid Island Capital (NYSE:ORC) announced it will release its Q1 2021 results on April 29, 2021, after market close. An earnings conference call is scheduled for April 30, 2021, at 10:00 AM ET, accessible via phone or through a live audio webcast on their website. Orchid specializes in investing in Agency RMBS, focusing on traditional pass-through and structured Agency RMBS. Managed by Bimini Advisors, the Company aims to leverage its investment strategy effectively.
Orchid Island Capital (NYSE:ORC) announced a monthly cash dividend of $0.065 per share for April 2021, payable on May 26, 2021. The ex-dividend date is April 29, 2021. The Company reported an estimated book value per share of $4.94 as of March 31, 2021, with total stockholders' equity around $466.2 million. However, the Company estimates a net loss per share of $0.34 due to net losses on RMBS and derivatives, which exceeds the $0.195 in dividends declared during the quarter.
Orchid Island Capital (NYSE:ORC) has declared a monthly cash dividend of $0.065 per share for March 2021, payable on April 28, 2021. Stockholders on record as of March 31, 2021 will qualify, with an ex-dividend date of March 30, 2021. The Company emphasizes its commitment to regular monthly distributions in order to maintain its status as a Real Estate Investment Trust (REIT), which requires at least 90% distribution of taxable income annually. As of March 17, 2021, it has 94,321,365 shares outstanding.
Orchid Island Capital (NYSE:ORC) has successfully closed a public offering of 9,200,000 shares of common stock, netting approximately $50 million after expenses. The underwriter exercised an option for 1,200,000 additional shares. The net proceeds will be used to invest in a mix of Agency RMBS and for general corporate purposes, with expectations to leverage these investments further through repurchase agreements. The offering was made under an existing shelf registration statement declared effective by the SEC on February 10, 2020.
Orchid Island Capital, Inc. (NYSE:ORC) has priced an underwritten public offering of 8,000,000 shares of common stock, aiming for gross proceeds of approximately $44.4 million. The underwriter has a 30-day option for an additional purchase of 1,200,000 shares. The offering is set to close on March 5, 2021. The net proceeds will be used to invest in Agency RMBS and for general corporate purposes, with plans to borrow against these investments. The offering follows the Company's existing shelf registration declared effective on February 10, 2020.
Orchid Island Capital, Inc. (NYSE:ORC) announced a public offering of 8,000,000 shares of its common stock, with an option for the underwriter to purchase an additional 1,200,000 shares. J.P. Morgan is the sole bookrunning manager for this offering. The net proceeds will be utilized to invest in a targeted mix of Agency RMBS and for general corporate purposes. The offering is under an existing shelf registration declared effective by the SEC on February 10, 2020.
Orchid Island Capital (NYSE:ORC) reported a net income of $16.5 million for Q4 2020, equating to $0.23 per share. The REIT's net interest income was $23.9 million, while total expenses reached $2.8 million. The company declared a quarterly dividend of $0.195 per share, a total of $0.79 per share for the year. Book value per share increased to $5.46 by year-end. Despite a decrease in net income from Q4 2019, Orchid capitalized on market opportunities, raising $36.1 million through capital raises and maintaining a leverage ratio of 8.8 to 1, while achieving a 4.0% economic gain on common equity.
Orchid Island Capital announced a monthly cash dividend of $0.065 per share for February 2021, payable on March 29, 2021, to stockholders of record as of February 26, 2021. The ex-dividend date is February 25, 2021. This distribution aligns with the company's goal of qualifying as a real estate investment trust (REIT), which mandates a distribution of at least 90% of its taxable income. As of early February 2021, the company had 85,121,365 shares outstanding.