Core Viewpoint - Orchid Island Capital, Inc. reported its first quarter 2025 results, highlighting a relatively stable economic environment until March, followed by market volatility due to tariff announcements and economic data suggesting stagflation. The company maintained prudent leverage and liquidity amid these conditions [4][5]. Financial Highlights - The company reported net income of $17.1 million for Q1 2025, down from $19.8 million in Q1 2024. Interest income increased by approximately $9.1 million from Q4 2024, with a yield on average Agency RMBS rising from 5.38% to 5.41% [6][7]. - Net interest income was $19.7 million, with total expenses of $4.2 million. The company declared dividends of $0.36 per common share, resulting in a total return of 2.60% for the quarter [7][8]. - As of March 31, 2025, the book value per common share was $7.94, with a decline of approximately 8.8% in book value since March 31, 2025 [7][26]. Portfolio and Prepayments - The company received $133.0 million in scheduled and unscheduled principal repayments, resulting in a 3-month constant prepayment rate (CPR) of approximately 7.8%, down from 10.6% in Q4 2024 [9]. - The portfolio consisted of $6.738 billion in total mortgage assets, with 99.8% in fixed-rate RMBS and 0.2% in interest-only securities as of March 31, 2025 [10][11]. Financing and Liquidity - As of March 31, 2025, the company had outstanding repurchase obligations of approximately $6.4 billion, with a net weighted average borrowing rate of 4.46%. The adjusted leverage ratio was 7.5 to 1, and liquidity stood at approximately $446.5 million [13][16]. - The company plans to enhance liquidity by potentially pledging more structured RMBS while retaining cash to avoid asset sales in distressed markets [13]. Capital Allocation and Returns - Approximately 97.9% of the company's investable capital was allocated to the pass-through RMBS portfolio as of March 31, 2025, with a return on invested capital of approximately 3.8% for the quarter [27][32]. - The structured RMBS portfolio generated a return on invested capital of 2.8%, contributing to a combined return of approximately 3.8% [32][33]. Stock Offerings and Repurchase Program - The company has engaged in multiple equity distribution agreements, raising significant capital through stock offerings, including approximately $123.7 million in gross proceeds from the February 2025 agreement [36][38]. - The stock repurchase program has authorized the repurchase of up to 6,183,601 shares, with a total of 5,144,602 shares repurchased at an aggregate cost of approximately $77.5 million since inception [39][40].

Group 1 - Orchid Island (ORC) has experienced a significant downtrend, with a stock decline of 24.7% over the past four weeks due to excessive selling pressure [1] - The stock is currently in oversold territory, indicated by an RSI reading of 26.89, suggesting that the heavy selling may be exhausting itself and a rebound could occur [5] - Wall Street analysts have raised earnings estimates for ORC by 11% over the last 30 days, indicating a potential for price appreciation in the near term [7] Group 2 - ORC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a turnaround [8]

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 been recognized as a contributor in various financial categories on Seeking Alpha [1] Group 2 - There is an open buy/write order to go long on ORC [3]

Financial Performance - Estimated net income per share for the quarter ended March 31, 2025, was $0.18, including $0.17 per share of net realized and unrealized gains on RMBS and derivative instruments[6] - Orchid Island Capital reported a net income of $5.2 million for the latest quarter, representing a 15% increase year-over-year[17] - The company’s total assets increased to $1.1 billion, up 10% from the previous quarter[17] - Orchid Island Capital's book value per share rose to $12.50, reflecting a 5% increase compared to the last quarter[17] Dividends and Returns - Total dividends declared during the quarter amounted to $0.36 per share, resulting in an estimated total return on equity of 2.6%[7] - The Company declared a monthly cash dividend of $0.12 per share for April 2025, payable on May 29, 2025[2] - The estimated total return on equity for the quarter was $0.21 per share, comprised of dividends per share of $0.36 and a decrease in book value per share of $0.15 from December 31, 2024[7] - The company declared a dividend of $0.15 per share, maintaining a consistent payout ratio[17] Shareholder Information - The estimated book value per share as of March 31, 2025, was $7.94, with total stockholders' equity approximately $855.9 million[5] - As of April 9, 2025, the Company had 107,673,390 shares of common stock outstanding, an increase from 82,622,464 shares as of December 31, 2024[4] - The next dividend announcement is expected on May 7, 2025[8] Asset and Portfolio Management - As of March 31, 2025, total mortgage assets amounted to $6,938,868,000, with a weighted average coupon of 5.29%[14] - The portfolio consists of 62.6% Fannie Mae assets valued at $4,343,326,000 and 37.4% Freddie Mac assets valued at $2,595,542,000[14] - Whole pool assets represent 97.1% of total mortgage assets, amounting to $6,738,029,000[15] - Total borrowings reached $6,418,641,000, with a weighted average rate of 4.46%[16] - The largest counterparty for borrowings is J.P. Morgan Securities LLC, accounting for $360,622,000, or 5.6% of total borrowings[16] - The 30-year fixed-rate mortgage portfolio has a total face value of $6,768,926,000, with a weighted average age of 22 months[12] - The company reported a total pass rate of 96.89% for the 30-year total portfolio[12] Market Position and Growth Strategy - User data indicated a 20% growth in the number of active investors in the last quarter[17] - Future outlook suggests a targeted annual growth rate of 8% for the next fiscal year[17] - The company is expanding its market presence in the Southeast region, aiming for a 25% increase in market share[17] - Orchid Island Capital is investing $2 million in new technology to enhance data analytics capabilities[17] - The company is exploring potential acquisition opportunities to diversify its portfolio[17] - A new strategic partnership is expected to drive revenue growth by 12% in the upcoming year[17] Risk Management - The modeled interest rate sensitivity indicates a potential impact of $113,593,000 under a -50 BPS scenario and $131,586,000 under a +50 BPS scenario[12] - The market value of the short position in five-year Treasury futures was $408.3 million as of March 31, 2025[13] - The market value of the short position in ten-year Treasury futures was $215.2 million as of March 31, 2025[13] Regulatory Compliance - The Company must distribute at least 90% of its REIT taxable income annually to qualify as a real estate investment trust[3] - Forward-looking statements regarding the Company's distributions are based on current expectations and are not guaranteed to occur[10] RMBS Portfolio - The RMBS portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS[9]

Core Viewpoint - Orchid Island Capital, Inc. has declared a monthly cash dividend of $0.12 per share for April 2025, to be paid on May 29, 2025, with an ex-dividend date of April 30, 2025 [1] Dividend and Distribution - The company intends to make regular monthly cash distributions to its common stockholders and must distribute at least 90% of its REIT taxable income annually to qualify as a real estate investment trust (REIT) [2] - The company has not established a minimum distribution payment level and cannot assure its ability to make future distributions [2] Share Information - As of April 9, 2025, the company had 107,673,390 shares of common stock outstanding, a slight decrease from 107,786,614 shares as of March 31, 2025 [3] Financial Metrics - The estimated book value per share as of March 31, 2025, was $7.94, with total stockholders' equity approximately $855.9 million [4] - The estimated net income per share for the quarter ended March 31, 2025, was $0.18, which includes $0.17 per share of net realized and unrealized gains on RMBS and derivative instruments [5] - The estimated total return on equity for the quarter ended March 31, 2025, was 2.6%, comprising dividends of $0.36 per share and a decrease in book value per share of $0.15 [6] RMBS Portfolio - Orchid Island Capital, Inc. invests in Agency RMBS, focusing on traditional pass-through Agency RMBS and structured Agency RMBS [7] - As of March 31, 2025, the RMBS portfolio included significant holdings in Fannie Mae (62.6%) and Freddie Mac (37.4%) [14] Borrowings - The total borrowings as of March 31, 2025, amounted to $6,418,641, with a weighted average interest rate of 4.46% [16]

Core Viewpoint - Orchid Island Capital, Inc. announced a monthly cash dividend of $0.12 per share for April 2025, to be paid on May 29, 2025, with an ex-dividend date of April 30, 2025 [1] Dividend and Distribution - The company intends 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 (REIT) [2] - The company has not established a minimum distribution payment level and cannot assure its ability to make future distributions [2] Share Information - As of April 9, 2025, the company had 107,673,390 shares of common stock outstanding, a slight decrease from 107,786,614 shares as of March 31, 2025 [3] Financial Metrics - The estimated book value per share as of March 31, 2025, was $7.94, calculated by dividing total stockholders' equity of approximately $855.9 million by the total number of outstanding shares [4] - The estimated net income per share for the quarter ended March 31, 2025, was $0.18, which includes an estimated $0.17 per share of net realized and unrealized gains on RMBS and derivative instruments [5] - The total return on equity for the quarter ended March 31, 2025, was estimated at 2.6%, comprising dividends per share of $0.36 and a decrease in book value per share of $0.15 [6] RMBS Portfolio - The company invests in Agency RMBS, focusing on traditional pass-through Agency RMBS and structured Agency RMBS [7] - As of March 31, 2025, the total mortgage assets amounted to $6,938,868, with Fannie Mae and Freddie Mac accounting for 62.6% and 37.4% of the portfolio, respectively [13] Borrowings - Total borrowings as of March 31, 2025, were $6,418,641, with an average interest rate of 4.46% [15]

VERO BEACH, Fla., April 08, 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 first quarter of 2025 following the close of trading on the New York Stock Exchange on Thursday, April 24, 2025. Earnings Conference Call Details An earnings conference call and live audio webcast will be hosted Friday, April 25, 2025, at 10:00 AM ET. Participants can register and receive dial-in ...

VERO BEACH, Fla., April 08, 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 first quarter of 2025 following the close of trading on the New York Stock Exchange on Thursday, April 24, 2025. Earnings Conference Call Details An earnings conference call and live audio webcast will be hosted Friday, April 25, 2025, at 10:00 AM ET. Participants can register and receive dial-in ...

Core Points - Orchid Island Capital, Inc. declared a monthly cash dividend of $0.12 per share for March 2025, payable on April 29, 2025, to shareholders of record as of March 31, 2025 [1] - The company is required to distribute at least 90% of its REIT taxable income annually to qualify as a real estate investment trust [2] - As of March 19, 2025, the company had 105,873,628 shares of common stock outstanding, an increase from 98,853,628 shares as of February 28, 2025 [3] RMBS Portfolio Characteristics - The company invests in Agency RMBS, focusing on traditional pass-through Agency RMBS and structured Agency RMBS [4] - As of February 28, 2025, the total mortgage assets amounted to $6,345,027,000, with 69.1% from Fannie Mae and 30.9% from Freddie Mac [11] - The company’s RMBS portfolio includes various fixed-rate securities with different maturities and coupon rates, with a total pass-through value of $6,329,792,000 [6][9] Borrowings and Counterparty Exposure - Total borrowings as of February 28, 2025, were $5,591,286,000, with an average interest rate of 4.45% [14] - The company has significant exposure to various counterparties, with MUFG Securities Canada, Ltd. being the largest at $337,100,000 [13][14] - The weighted average maturity of borrowings is 29 days, with the longest maturity extending to August 21, 2025 [14]

Core Points - Orchid Island Capital, Inc. declared a monthly cash dividend of $0.12 per share for March 2025, payable on April 29, 2025, to shareholders of record as of March 31, 2025 [1] - The company aims to make regular monthly cash distributions to its common stockholders, adhering to the REIT requirement of distributing at least 90% of its taxable income annually [2] - As of March 19, 2025, the company had 105,873,628 shares of common stock outstanding, an increase from 98,853,628 shares as of February 28, 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] - The RMBS portfolio as of February 28, 2025, includes various fixed-rate mortgage-backed securities with a total fair value of $6,345,027,000 [11] - The portfolio is primarily composed of assets from Fannie Mae (69.1%) and Freddie Mac (30.9%) [11] RMBS Valuation Characteristics - The weighted average coupon for the total pass-through MBS portfolio is 5.26%, with a weighted average maturity of 23 months [6] - The portfolio's sensitivity to interest rate changes shows a modeled interest rate shock of -50 basis points resulting in a loss of $16,070,000 and a gain of $2,715,000 for +50 basis points [9] Borrowings and Counterparty Exposure - As of February 28, 2025, total borrowings amounted to $5,591,286,000, with an average interest rate of 4.45% [13] - Major counterparties include MUFG Securities Canada, Citigroup Global Markets, and RBC Capital Markets, with varying exposure percentages and maturity dates [13]