Orchid Island Capital(US:ORC)2024-10-25 14:49Financial Performance - The company reported net income of $17320 thousand, or $0.24 per share, for Q3 2024 [7] - Book value decreased from $8.58 in Q2 2024 to $8.40 in Q3 2024, a decrease of 1.97% [5] - The total return for Q3 2024 was 2.10% [5] - The company declared a dividend of $0.36 per share for both Q2 and Q3 2024 [5] Portfolio Characteristics - The average MBS balances were $4203 million in Q3 2024, compared to $4984 million in Q2 2024 [5] - The economic leverage ratio increased from 7.1 in Q2 2024 to 7.6 in Q3 2024 [5] - The portfolio's weighted average coupon increased from 4.72% on June 30, 2024, to 4.94% on September 30, 2024 [21, 25] - The realized yield on the portfolio increased from 5.05% to 5.43% between June 30, 2024, and September 30, 2024 [21] Hedging and Funding - The company's hedge positions covered approximately 76% of its repo funding liability (excluding TBA shorts) [29] - The total notional balance of hedge positions (excluding short TBAs) was $(3955.2) million [29] - The company held short TBA positions of $(300.0) million (FNCL 3.0) [29]