Core Viewpoint - Orchid Island Capital, Inc. reported its financial results for the fourth quarter and full year of 2024, highlighting a positive return despite challenging market conditions in the Agency RMBS sector [5][6][7]. Fourth Quarter 2024 Results - The company achieved a net income of 5.6million,or0.07 per common share, compared to 27.1millionforthesameperiodin2023[9].−Netinterestincomeforthequarterwas8.1 million, with total expenses of 4.4million[6].−Thetotalreturnforthefourthquarterwas0.600.36 in dividends and a 0.31decreaseinbookvaluepershare[6][10].−TheaverageAgencyRMBSportfolioincreasedfrom5.0 billion in Q3 2024 to 5.3billioninQ42024[9].Full−Year2024Results−Forthefullyear,netincomewas37.8 million, or 0.57percommonshare,asignificantrecoveryfromanetlossof39.2 million in 2023 [11]. - Interest income for the year was approximately 241.6million,withayieldontheaverageAgencyRMBSof5.258.09 as of December 31, 2024, reflecting a decrease of 1.01fortheyear[12][34].−Thecompanymaintainedastrongliquiditypositionwith353.6 million in cash and cash equivalents, representing 53% of stockholder's equity [6][19]. - The adjusted leverage ratio was 7.5:1, with outstanding repurchase obligations of approximately 5,025.5million[19].ManagementCommentary−TheCEOnotedashiftinthefixedincomemarketoutlook,withinflationremainingabovetheFederalReserve′stargetandapro−growthagendafollowingtheRepublicanparty′snationalelectionsuccess[5].−Thecompanyadoptedabar−bellstrategyinitsAgencyRMBSportfolio,focusingonhighercouponholdingswhilemaintainingsignificantlowercouponsecurities[8].Prepayments−ForQ42024,thecompanyreceived185.0 million in principal repayments and prepayments, resulting in a 3-month constant prepayment rate (CPR) of approximately 10.5% [13]. Portfolio Characteristics - As of December 31, 2024, the total fair value of the mortgage assets was 5.25billion,withfixed−rateRMBSmakingup99.7164.9 million through December 31, 2024 [42]. - Since the inception of the stock repurchase program, the company repurchased a total of 5,144,602 shares at an aggregate cost of approximately $77.5 million [44].