[Estimated Third Quarter 2025 Results and October 2025 Dividend Announcement](index=1&type=section&id=Estimated%20Third%20Quarter%202025%20Results%20and%20October%202025%20Dividend%20Announcement) This section presents estimated Q3 2025 financial results, covering dividends, book value, net income, and total return on equity [October 2025 Monthly Dividend Declaration](index=1&type=section&id=October%202025%20Monthly%20Dividend%20Declaration) Orchid Island Capital declared a **$0.12 per share** monthly dividend for October 2025, payable November 26, 2025, with the next dividend announcement on November 12, 2025 October 2025 Monthly Dividend Details | Metric | Value | | :--- | :--- | | October 2025 Monthly Dividend | $0.12 per share | | Payment Date | November 26, 2025 | | Record Date | October 31, 2025 | | Ex-dividend Date | October 31, 2025 | - The Company plans on announcing its next common stock dividend on November 12, 2025[2](index=2&type=chunk) [REIT Distribution Requirements](index=1&type=section&id=REIT%20Distribution%20Requirements) To maintain REIT status, the Company must distribute at least **90% of REIT taxable income** annually, with undistributed income subject to taxes and no guarantee of future distributions - To qualify as a real estate investment trust ("REIT"), the Company must distribute annually to its stockholders an amount at least equal to **90% of its REIT taxable income**[3](index=3&type=chunk) - The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates[3](index=3&type=chunk) - The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future[3](index=3&type=chunk) [Shares Outstanding](index=1&type=section&id=Shares%20Outstanding) The number of common shares outstanding increased significantly from June 30, 2025, to October 15, 2025 Common Shares Outstanding | Date | Shares of Common Stock Outstanding | | :--- | :--- | | October 15, 2025 | 151,712,160 | | September 30, 2025 | 148,239,401 | | June 30, 2025 | 126,566,926 | [Estimated Book Value Per Share](index=1&type=section&id=Estimated%20September%2030%2C%202025%20Book%20Value%20Per%20Share) Estimated book value per share as of September 30, 2025, was **$7.33**, based on preliminary **$1,086.1 million** equity and **148,239,401 shares** outstanding, subject to review Estimated Book Value Per Share (as of Sep 30, 2025) | Metric | Value (as of Sep 30, 2025) | | :--- | :--- | | Estimated Book Value Per Share | $7.33 | | Preliminary Estimated Total Stockholders' Equity | ~$1,086.1 million | | Shares of Common Stock Outstanding | 148,239,401 | - These figures and the resulting estimated book value per share are preliminary, subject to change, and subject to review by the Company's independent registered public accounting firm[5](index=5&type=chunk) [Estimated Net Income Per Share and Realized and Unrealized Gains](index=1&type=section&id=Estimated%20Net%20Income%20Per%20Share%20and%20Realized%20and%20Unrealized%20Gains%20on%20RMBS%20and%20Derivative%20Instruments) Q3 2025 estimated net income per share was **$0.53**, including **$0.37 per share** from RMBS and derivative gains, with REIT taxable income considered a better dividend indicator than GAAP net income Estimated Net Income and Gains (Q3 2025) | Metric | Value (Q3 2025) | | :--- | :--- | | Estimated Net Income Per Share | $0.53 | | Estimated Net Realized and Unrealized Gains on RMBS and Derivative Instruments | $0.37 per share | | Total Dividends Declared | $0.36 per share | - The Company views **REIT taxable income** as a better indication of income to be paid in the form of a dividend rather than net income[6](index=6&type=chunk) - These figures are preliminary, subject to change, and subject to review by the Company's independent registered public accounting firm[6](index=6&type=chunk) [Estimated Total Return on Equity](index=1&type=section&id=Estimated%20Total%20Return%20on%20Equity) Estimated total return on equity for Q3 2025 was **6.6%**, derived from **$0.36 per share** in dividends and a **$0.12 per share** increase in book value from June 30, 2025 Estimated Total Return on Equity (Q3 2025) | Metric | Value (Q3 2025) | | :--- | :--- | | Estimated Total Return on Equity | 6.6% | | Total Return Per Share | $0.48 | | Dividends Per Share | $0.36 | | Increase in Book Value Per Share (from Jun 30, 2025) | $0.12 | [Highlights of Estimated Results](index=1&type=section&id=Highlights%20of%20Estimated%20Results) This section summarizes key estimated financial results for Q3 2025 and the October 2025 dividend, highlighting their preliminary nature - October 2025 Monthly Dividend of **$0.12 Per Share** of Common Stock[8](index=8&type=chunk) - Estimated Book Value Per Share as of September 30, 2025, of **$7.33**[8](index=8&type=chunk) - Estimated GAAP net income of **$0.53 per share** for the quarter ended September 30, 2025, including an estimated **$0.37 per share** of net realized and unrealized gains on RMBS and derivative instruments[8](index=8&type=chunk) - Estimated **6.6% total return on equity** for the quarter ended September 30, 2025[8](index=8&type=chunk) - Estimated book value, net income and total return on equity amounts are preliminary, subject to change, and subject to review by the Company's independent registered public accounting firm[8](index=8&type=chunk) [RMBS Portfolio Characteristics as of September 30, 2025](index=2&type=section&id=RMBS%20Portfolio%20Characteristics) This section details the RMBS portfolio characteristics, including valuation, agency distribution, regulatory compliance, and repurchase agreement exposure [RMBS Valuation Characteristics and Interest Rate Sensitivity](index=3&type=section&id=RMBS%20Valuation%20Characteristics) As of September 30, 2025, the RMBS portfolio was **99.84% fixed-rate pass-through**, with a **5.47% weighted average coupon** and **328-month maturity**, alongside detailed hedging instruments and modeled interest rate sensitivities RMBS Portfolio Composition (as of Sep 30, 2025) | Type | Fair Value ($) | % of Portfolio | Weighted Average Coupon | Weighted Average Maturity (Months) | | :--- | :--- | :--- | :--- | :--- | | Total Pass Through RMBS | 8,594,615 | 99.84% | 5.50% | 329 | | Total Structured RMBS | 14,180 | 0.16% | 3.25% | 213 | | **Total Mortgage Assets** | **8,608,795** | **100.00%** | **5.47%** | **328** | Modeled Interest Rate Sensitivity (Total Mortgage Assets & Hedges) | Scenario | Impact on Rate Shock Grand Total ($) | | :--- | :--- | | -50 BPS | (18,886) | | +50 BPS | (12,934) | - Hedge instruments include 3-Month SOFR Futures, 5-Year Treasury Future, 10-Year Treasury Future, 10-Year Ultra Treasury Future, 5-Year ERIS SOFR Swap Futures, and Swaps[12](index=12&type=chunk) [RMBS Assets by Agency](index=4&type=section&id=RMBS%20Assets%20by%20Agency) As of September 30, 2025, the Company's mortgage assets were predominantly issued by Fannie Mae (**56.7%**) and Freddie Mac (**43.3%**) RMBS Assets by Agency (as of Sep 30, 2025) | Agency | Fair Value ($ in thousands) | Percentage of Portfolio | | :--- | :--- | :--- | | Fannie Mae | 4,741,968 | 56.7% | | Freddie Mac | 3,614,112 | 43.3% | | **Total Mortgage Assets** | **8,356,080** | **100.0%** | [Investment Company Act of 1940 Whole Pool Test Results](index=4&type=section&id=Investment%20Company%20Act%20of%201940%20%28Whole%20Pool%29%20Test%20Results) As of September 30, 2025, **92.2%** of total mortgage assets were Whole Pool Assets, with **7.8%** Non-Whole Pool, complying with the Investment Company Act of 1940 Investment Company Act of 1940 Whole Pool Test (as of Sep 30, 2025) | Asset Category | Fair Value ($ in thousands) | Percentage of Portfolio | | :--- | :--- | :--- | | Whole Pool Assets | 7,701,330 | 92.2% | | Non-Whole Pool Assets | 654,750 | 7.8% | | **Total Mortgage Assets** | **8,356,080** | **100.0%** | [Repurchase Agreement Exposure by Counterparty](index=4&type=section&id=Repurchase%20Agreement%20Exposure%20by%20Counterparty) Total repurchase agreement borrowings were **$8,006,978 thousand** as of September 30, 2025, with a **4.33% weighted average repo rate** and **39-day maturity**, with J.P. Morgan Securities LLC as the largest counterparty Borrowings By Counterparty (as of Sep 30, 2025) | Metric | Value | | :--- | :--- | | Total Borrowings | $8,006,978 thousand | | Weighted Average Repo Rate | 4.33% | | Weighted Average Maturity | 39 days | | Largest Counterparty (J.P. Morgan Securities LLC) | $511,662 thousand (6.4% of Total Debt) | [Company Information and Disclaimers](index=2&type=section&id=Company%20Information%20and%20Disclaimers) This section provides company background, forward-looking statement disclaimers, and contact information [About Orchid Island Capital, Inc.](index=2&type=section&id=About%20Orchid%20Island%20Capital%2C%20Inc.) Orchid Island Capital, Inc. is a specialty finance company investing in leveraged Agency RMBS, focusing on traditional pass-through and structured products, managed by Bimini Advisors, LLC - Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS[9](index=9&type=chunk) - Its investment strategy focuses on traditional pass-through Agency RMBS and structured Agency RMBS[9](index=9&type=chunk) - The Company is managed by Bimini Advisors, LLC, a registered investment adviser[9](index=9&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements, particularly regarding distributions, which are not guaranteed, and investors should consult the Form 10-K "Risk Factors" section - This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements about the Company's distributions[10](index=10&type=chunk) - These forward-looking statements are based upon Orchid Island Capital, Inc.'s present expectations, but these statements are not guaranteed to occur[10](index=10&type=chunk) - Investors should refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, for further discussion of factors that could affect outcomes[10](index=10&type=chunk) [Contact Information](index=4&type=section&id=Contact) Provides contact details for Orchid Island Capital, Inc., including the contact person, address, and telephone number - Contact Person: Robert E. Cauley[18](index=18&type=chunk) - Address: 3305 Flamingo Drive, Vero Beach, Florida 32963[18](index=18&type=chunk) - Telephone: (772) 231-1400[18](index=18&type=chunk)

October 2025 Monthly Dividend of $0.12 Per Share of Common StockEstimated Book Value Per Share as of September 30, 2025 of $7.33Estimated GAAP net income of $0.53 per share for the quarter ended September 30, 2025, including an estimated $0.37 per share of net realized and unrealized gains on RMBS and derivative instrumentsEstimated 6.6% total return on equity for the quarter ended September 30, 2025Estimated book value, net income and total return on equity amounts are preliminary, subject to change, and s ...

VERO BEACH, Fla., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (NYSE:ORC) ("Orchid” or the "Company"), a real estate investment trust ("REIT"), today announced that it will release results for the third quarter of 2025 following the close of trading on the New York Stock Exchange on Thursday, October 23, 2025. Earnings Conference Call Details An earnings conference call and live audio webcast will be hosted Friday, October 24, 2025, at 10:00 AM ET. Participants can register and receive dial ...

Core Insights - Orchid Island Capital, Inc. (NYSE:ORC) is recognized as one of the safest monthly dividend stocks to buy, offering a monthly dividend of $0.12 per share, resulting in a dividend yield of 20.54% as of September 23 [4]. Group 1: Company Overview - Orchid Island Capital, Inc. is a specialty finance company that invests in residential mortgage-backed securities (RMBS), with a portfolio that includes traditional mortgage pass-through certificates, collateralized mortgage obligations, and structured Agency RMBS [2]. Group 2: Recent Performance and Strategy - In the latest earnings update, CEO Robert Cauley highlighted two significant events affecting the quarter: the reciprocal tariffs announced in April and the passage of the "One Big beautiful bill" in July, which contributed to market volatility and influenced investor sentiment [3]. - The company maintained a strong position by holding high cash reserves and keeping leverage at the low end of its range, which limited the need for deleveraging and allowed for the repurchase of over 1.1 million shares at a steep discount early in the quarter [3]. - Despite a defensive stance, the company generated a cash buffer through selective share sales [3].

Core Insights - Orchid Island Capital (ORC) and AGNC Investment Corp. (AGNC) are prominent players in the mortgage real estate investment trusts (mREITs) sector, both providing attractive long-term returns and substantial dividend yields. The analysis aims to determine which company presents a better investment opportunity at this time [1]. AGNC Investment Corp. - AGNC employs an active portfolio-management strategy, regularly adjusting its holdings and implementing hedges to adapt to market changes, which positions it defensively against volatility [2]. - As of June 30, 2025, AGNC has hedged 89% of its outstanding balance in Investment Securities Repo, TBA position, and other debt, which may enhance cash flow stability and support long-term growth [3]. - The company holds $73.3 billion in Agency mortgage-backed securities (MBS), benefiting from GSE guarantees, which makes these investments relatively safer despite market volatility [4]. - AGNC's liquidity, including unencumbered cash and Agency MBS, stood at $6.4 billion as of June 30, 2025, with a modest increase in leverage to 7.6 times [5]. - The current dividend yield for AGNC is 14.4%, although it has not increased its dividend in the past five years [6]. Orchid Island Capital - ORC focuses exclusively on Agency residential MBS, which limits credit risks but increases sensitivity to interest rate changes and prepayments [7]. - The recent decline in mortgage rates is expected to improve ORC's book value as spreads in the Agency market tighten, enhancing net interest spread and overall portfolio yield [8]. - ORC currently boasts a dividend yield of 20.6% and has increased its dividend three times in the past five years, supported by a strong liquidity position of $492.5 million [10]. - Earnings for ORC are projected to surge by 450% in 2025 and 40% in 2026, significantly outpacing AGNC's expected declines [9][24]. Performance and Valuation - Over the past year, AGNC shares rose by 8.1%, while ORC shares increased by 4.3%, compared to the industry's growth of 5.2% [11]. - ORC is trading at a 12-month forward price-to-tangible book (P/TB) ratio of 0.88X, which is a discount compared to the industry average of 1.07X, while AGNC trades at a premium with a P/TB of 1.24X [13][16]. - The Zacks Consensus Estimate indicates AGNC's earnings will decline by 15.4% in 2025 and 0.9% in 2026, while ORC's earnings are expected to rise by 450% and 39.7% in the same years [19][20][21]. Conclusion - While AGNC remains a reliable mREIT with a disciplined strategy and steady dividends, ORC presents a more compelling opportunity for income-seeking investors due to its higher dividend yield, strong liquidity, and significant earnings growth potential [22][24].

Core Insights - Mortgage rates have decreased to 6.26%, the lowest since October 2024, driven by a decline in U.S. Treasury yields and a Federal Reserve rate cut [1][11] - The reduction in mortgage rates has led to a significant increase in mortgage loan application volume by 43% and a 58% rise in refinancing activity [2] - The favorable environment for mortgage rates is expected to benefit mortgage REITs (mREITs) such as Ellington Financial, Annaly Capital Management, and Orchid Island Capital [3][4] Mortgage Market Trends - The Federal Reserve's indication of two additional rate cuts by the end of 2025 suggests further declines in mortgage rates, which will likely enhance mREIT profitability and asset prices [4] - As net interest spreads expand, mREITs are positioned for stronger profitability and increased dividend payouts, appealing to income-focused investors [5] Company-Specific Insights Ellington Financial (EFC) - EFC is diversified across residential and commercial mortgage loans, contributing to stable growth and income [6][7] - The company employs dynamic hedging strategies and maintains a balanced portfolio to navigate market volatility [8] - EFC's 2025 earnings estimates remain at $1.74 per share, reflecting a year-over-year growth of 19.2% [9] Annaly Capital Management (NLY) - NLY manages an $89.5 billion portfolio, focusing on diversified investment strategies to reduce volatility and enhance risk-adjusted returns [12][13] - The company's net interest income (NII) surged to $493.2 million in the first half of 2025, up from $47.1 million year-over-year, positioning it for book value gains [14] - NLY's 2025 earnings estimates are stable at $2.89 per share, indicating a year-over-year growth of 7% [15] Orchid Island Capital (ORC) - ORC focuses on Agency residential mortgage-backed securities (RMBS), targeting traditional and structured Agency RMBS [18][19] - The company's NII increased to $42.9 million in the first half of 2025, with expectations for further improvement due to favorable mortgage rates [21] - ORC's 2025 earnings estimates remain at 63 cents per share, reflecting a substantial year-over-year increase of 450% [21]

Group 1 - The individual investor tends toward value investing while also exploring new strategies [1] - The investor has experience teaching financial management, focusing on financial statement and project financial analysis [1] - The investor has contributed to Seeking Alpha as a Top 40 REIT Contributor and Top 100 Mutual Funds and Financials contributor [1] Group 2 - The analyst has a beneficial long position in ORC through stock ownership, options, or other derivatives [2] - The article expresses the analyst's own opinions and is not compensated beyond Seeking Alpha [2] - The analyst does not have any open cash-secured puts or buy orders but may add to the position later [3] Group 3 - Seeking Alpha emphasizes that past performance is not indicative of future results and does not provide specific investment advice [4] - The views expressed may not reflect those of Seeking Alpha as a whole, and analysts may not be licensed or certified [4]

Core Points - Orchid Island Capital, Inc. declared a monthly cash dividend of $0.12 per share for September 2025, payable on October 30, 2025, to shareholders of record as of September 30, 2025 [1][7] - The company aims to make regular monthly cash distributions to its common stockholders, adhering to the requirement of distributing at least 90% of its REIT taxable income annually to qualify as a real estate investment trust [2] - As of September 8, 2025, the company had 146,130,135 shares of common stock outstanding, an increase from 141,863,067 shares as of August 31, 2025 [3] RMBS Portfolio Characteristics - Orchid Island Capital focuses on investing in Agency RMBS, including traditional pass-through Agency RMBS and structured Agency RMBS [4] - As of August 31, 2025, the total mortgage assets amounted to $7,966,555, with Fannie Mae accounting for 59.3% and Freddie Mac for 40.7% of the portfolio [11] - The company reported that 93.5% of its mortgage assets were whole pool assets, while 6.5% were non-whole pool assets [12] RMBS Valuation Characteristics - The company’s RMBS portfolio as of August 31, 2025, included various fixed-rate RMBS with a weighted average coupon of 5.49% and a weighted average maturity of 334 days [6] - The total pass-through RMBS was valued at $8,204,742, representing 99.82% of the portfolio [6] - The company has exposure to various repurchase agreements, with total borrowings amounting to $7,488,079 as of August 31, 2025 [13]

Mortgage Market Overview - Mortgage rates are currently at the lowest levels of 2025, with the average 30-year mortgage rate at 6.58% as of August 21, 2025, unchanged from the previous week and down from 6.91% at the start of 2025 [1][9] - The decline in mortgage rates reflects market optimism for potential Federal Reserve rate cuts later in the year, along with changing inflation and bond market dynamics [4] mREITs Performance and Outlook - mREITs such as Apollo Commercial Real Estate Finance (ARI), Annaly Capital Management (NLY), and Orchid Island Capital (ORC) are expected to benefit from lower mortgage rates, which are lifting mortgage originations and driving stronger refinancing activity [5][9] - With improving purchase originations and refinancing activities, mREITs are likely to see book value improvement as Agency market spreads tighten, enhancing net interest spread and financial performance [7][9] Apollo Commercial Real Estate Finance (ARI) - Apollo Commercial has a portfolio of $8.6 billion in loans, primarily secured by properties in the U.S. and European gateway cities, with 96% of its lending consisting of floating-rate loans [10] - Despite a 23.9% year-over-year decline in net interest income (NII) in the first half of 2025, NII is expected to rise due to declining mortgage rates, with a current dividend yield of 9.9% and a payout ratio of 96% [11] Annaly Capital Management (NLY) - Annaly manages an $89.5 billion portfolio, with a focus on residential credit, mortgage servicing rights (MSRs), and Agency mortgage-backed securities (MBS), which helps reduce volatility and interest rate sensitivity [14][15] - NLY's NII increased to $493.2 million in the first half of 2025 from $47.1 million a year ago, supported by improving purchase originations and refinancing, with a current dividend yield of 13.6% and a payout ratio of 99% [16][17] Orchid Island Capital (ORC) - Orchid focuses on Agency residential mortgage-backed securities (RMBS) and has seen its NII rise to $42.9 million in the first half of 2025, compared to net interest expenses of $3.2 million in the same period last year [22] - The company currently offers a dividend yield of 20.4% and has increased its dividend twice in the past five years, with earnings estimates indicating significant year-over-year growth of 450% and 39.7% for 2025 and 2026, respectively [23]

Summary of Orchid Island Capital, Inc. News Core Viewpoint Orchid Island Capital, Inc. has declared a monthly cash dividend of $0.12 per share for August 2025, with plans for regular monthly distributions to its common stockholders. The company is focused on maintaining its status as a real estate investment trust (REIT) by distributing at least 90% of its taxable income. Group 1: Dividend Announcement - The Board of Directors declared a monthly cash dividend of $0.12 per share for August 2025, payable on September 29, 2025, to stockholders of record as of August 29, 2025, with an ex-dividend date of August 29, 2025 [1] - The next common stock dividend announcement is expected on September 8, 2025 [7] Group 2: REIT Compliance and Distribution Strategy - To qualify as a REIT, the company must distribute annually at least 90% of its REIT taxable income, excluding net capital gains [2] - The company has not established a minimum distribution payment level and does not guarantee future distributions [2] Group 3: Shareholder Information - As of August 13, 2025, the company had 133,172,673 shares of common stock outstanding, an increase from 130,595,848 shares as of July 31, 2025 [3] Group 4: RMBS Portfolio Characteristics - Orchid Island Capital, Inc. invests in Agency RMBS, focusing on traditional pass-through Agency RMBS and structured Agency RMBS [4] - The company is managed by Bimini Advisors, LLC, a registered investment adviser [4] Group 5: RMBS Valuation and Characteristics - As of July 31, 2025, the total mortgage assets amounted to $7,350,578,000, with Fannie Mae and Freddie Mac representing 60.1% and 39.9% of the portfolio, respectively [11] - The company holds a significant portion of its assets in whole pool RMBS, accounting for 94.3% of total mortgage assets [12]