Orchid Island Capital, Inc. has released its estimated second quarter 2024 results, along with the July 2024 monthly dividend and the June 30, 2024, RMBS portfolio characteristics. The company announced a monthly dividend of $0.12 per share of common stock. This marks a decrease from the total dividends declared during the quarter of $0.36 per share. The estimated book value per share as of June 30, 2024, was $8.58, which is up from the March 31, 2024 figure of $8.88.
However, the company reported an estimated GAAP net loss of $0.09 per share for the quarter ended June 30, 2024, including an estimated $0.1 million of net realized and unrealized gains on RMBS and derivative instruments. This is a change from the positive net income reported in the previous period.
The estimated total return on equity for the quarter ended June 30, 2024, was (2.0)%, with a decrease in book value per share of $0.54 from March 31, 2024. This marks a decline in performance compared to the prior quarter.
Additionally, the company had 66,849,374 shares of common stock outstanding as of July 10, 2024, compared to 64,824,374 shares as of June 30, 2024, and 52,826,169 shares as of March 31, 2024.
The RMBS portfolio characteristics as of June 30, 2024, are currently preliminary and subject to change, and include details of RMBS valuation characteristics, RMBS assets by agency, investment company act of 1940 (whole pool) test results, repurchase agreement exposure by counterparty, and RMBS risk measures.
Orchid Island Capital, Inc. is a specialty finance company that invests in agency RMBS on a leveraged basis and is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.
It is important to note that the estimated figures are preliminary, subject to change, and subject to review by the company’s independent registered public accounting firm. Today the company's shares have moved 2.9% to a price of $8.52. If you want to know more, read the company's complete 8-K report here.
