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. (NYSE: ORC) is a specialty finance company and real estate investment trust (REIT) that invests on a leveraged basis in Agency residential mortgage-backed securities (RMBS). The news flow around Orchid Island Capital is closely tied to its Agency RMBS portfolio, funding profile and REIT distribution practices, making its disclosures relevant for investors who follow mortgage REITs and fixed-income strategies.
News updates for Orchid Island Capital commonly include monthly dividend declarations, where the company announces the per-share cash dividend on its common stock, along with record, payment and ex-dividend dates. The company also issues quarterly and intra-quarter reports providing estimated or actual book value per share, GAAP net income per share, and total return on equity, together with detailed RMBS portfolio characteristics such as valuation metrics, Agency mix, whole pool test results, and repurchase agreement exposure by counterparty.
In addition, Orchid Island Capital uses current reports and press releases to discuss results of operations, including net interest income, total expenses, and net realized and unrealized gains or losses on RMBS and derivative instruments. These communications often highlight prepayment experience, effective duration, modeled interest rate sensitivity and liquidity measures such as cash, unpledged securities and borrowing capacity.
Investors monitoring ORC news can also see announcements related to equity distribution agreements and amendments that govern at-the-market common stock offerings used to raise capital for the company’s Agency RMBS strategy. By reviewing this news feed, readers can track how Orchid Island Capital’s portfolio composition, leverage, hedging activity and dividend policy evolve over time based on the company’s own disclosures.
Orchid Island Capital (NYSE:ORC) reported Q2 2024 results with a net loss of $5.0 million, or $0.09 per share. Key highlights include:
- Net interest expense of $0.7 million
- Total expenses of $4.4 million
- Dividends of $0.36 per share declared and paid
- Book value per share decreased to $8.58
- Total return of -1.97%
- Strong liquidity position of $265.3 million
- Portfolio size increased by 16.6% in Q2
The company raised approximately $100.7 million in equity capital during Q2, deploying proceeds into Agency RMBS at attractive spreads. Management sees potential for improved returns if the Federal Reserve begins easing monetary policy. Prepayment speeds remained low at 7.6% CPR for the quarter.
Orchid Island Capital (NYSE: ORC) has announced its estimated results for Q2 2024, a monthly dividend for July 2024, and the characteristics of its RMBS portfolio as of June 30, 2024.
The company declared a monthly dividend of $0.12 per share, payable on August 29, 2024, to shareholders on record as of July 31, 2024. The estimated book value per share was $8.58 as of June 30, 2024, with a total stockholders' equity of approximately $555.9 million and 64,824,374 shares outstanding.
ORC reported an estimated GAAP net loss of $0.09 per share for Q2 2024, including $0.1 million in net realized and unrealized gains on RMBS and derivative instruments. The estimated total return on equity for the quarter was (2.0)%, reflecting dividends per share of $0.36 and a book value decrease of $0.54 per share.
The company will announce its next dividend on August 14, 2024. As a REIT, ORC must distribute 90% of its taxable income annually to maintain its status. These figures are preliminary and subject to change upon review by the company's independent auditors.
Bimini Capital Management (OTCQB:BMNM) has announced that it will disclose its second quarter 2024 financial results on Thursday, August 1, 2024, after market close.
Following this, an earnings conference call and live audio webcast will be held on Friday, August 2, 2024, at 10:00 AM ET.
Participants can join the conference call by dialing toll-free at (888) 330-2214, while the live audio webcast will be accessible via the investor relations section of Bimini's website.
An audio archive of the webcast will remain available for 30 days post the call.
Orchid Island Capital (NYSE: ORC), a real estate investment trust (REIT), announced it will release its Q2 2024 financial results post-market close on July 25, 2024.
An earnings conference call will be held the next day, July 26, 2024, at 10:00 AM ET. Participants can join the call by dialing (800) 715-9871 with the conference ID 8307491.
A live audio webcast will be accessible via Orchid's investor relations website, with an audio archive available for 30 days post-call.
Orchid Island Capital (NYSE: ORC) has announced a $0.12 per share monthly dividend for June 2024, payable on July 30, 2024, to stockholders of record as of June 28, 2024. The next dividend announcement is expected on July 10, 2024. To maintain its REIT status, the company must distribute at least 90% of its taxable income annually.
As of June 11, 2024, Orchid Island had 62.8 million shares outstanding, up from 62.3 million on May 31, 2024, and 52.8 million on March 31, 2024. The company entered into an Equity Distribution Agreement with JP Morgan, Citizens JMP Securities, and JonesTrading Institutional Services, allowing it to sell up to $250 million in shares.
Orchid Island prefers 'at the market' offerings for raising equity. The RMBS (Residential Mortgage-Backed Securities) portfolio details, as of May 31, 2024, were also shared, but they are preliminary and subject to change.
Orchid Island Capital, Inc. (NYSE: ORC) announced the May 2024 monthly dividend of $0.12 per share of common stock, to be paid on June 27, 2024. The company plans to announce the next dividend on June 11, 2024. As of April 30, 2024, the company had 54,389,261 shares of common stock outstanding.
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