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Orchid Island Capital Inc
Orchid Island Capital, Inc. operates as a specialty finance company, investing in residential mortgage-backed securities (RMBS). The company is headquartered in Vero Beach, Florida and currently employs 0 full-time employees. The company went IPO on 2013-02-13. The Company’s investment strategy focuses on two categories of Agency RMBS: traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations (CMOs) issued by the GSEs; and structured Agency RMBS, such as interest only securities (IOs), inverse interest only securities (IIOs) and principal only securities (POs), among other types of structured Agency RMBS. Its objective is to provide risk-adjusted total returns over the long term through a combination of capital appreciation and the payment of regular monthly distributions. Its portfolio of PT RMBS is comprised of adjustable-rate RMBS, fixed-rate RMBS and hybrid adjustable-rate RMBS. Its PT RMBS certificates include fixed-rate mortgages and fixed-rate CMOs. Its Structured RMBS Certificates include interest-only securities and inverse interest-only securities.
Orchid Island Capital, Inc. operates as a specialty finance company, investing in residential mortgage-backed securities (RMBS). The company is headquartered in Vero Beach, Florida and currently employs 0 full-time employees. The company went IPO on 2013-02-13. The Company’s investment strategy focuses on two categories of Agency RMBS: traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations (CMOs) issued by the GSEs; and structured Agency RMBS, such as interest only securities (IOs), inverse interest only securities (IIOs) and principal only securities (POs), among other types of structured Agency RMBS. Its objective is to provide risk-adjusted total returns over the long term through a combination of capital appreciation and the payment of regular monthly distributions. Its portfolio of PT RMBS is comprised of adjustable-rate RMBS, fixed-rate RMBS and hybrid adjustable-rate RMBS. Its PT RMBS certificates include fixed-rate mortgages and fixed-rate CMOs. Its Structured RMBS Certificates include interest-only securities and inverse interest-only securities.
Net Income Rebound: Orchid Island Capital reported Q3 net income of $0.53 per share, turning around from a loss last quarter.
Book Value Growth: Book value rose to $7.33 at quarter end from $7.21 in Q2.
Strong Total Return: Achieved a 6.7% total return for Q3, bouncing back from a negative 4.7% in Q2.
Dividend Maintained: Paid a $0.36 dividend per share, unchanged from last quarter.
Portfolio Expansion: Average portfolio balance grew to $7.7 billion, up from $6.9 billion last quarter.
Capital Raise: Raised $152 million in equity and deployed it fully into high-quality agency MBS at attractive spreads.
Funding & Hedging: Funding costs have ticked slightly higher, but hedging and call protection helped manage risks.
Outlook: Management is positive on the investment environment, expecting potential tailwinds from Fed rate cuts, ending of QT, and continued strong agency MBS opportunities.
