Orchid Island Capital, a specialty finance company, has recently released its 10-Q report. The company primarily invests in residential mortgage-backed securities (RMBS) in the United States, focusing on traditional pass-through Agency RMBS and structured Agency RMBS. Orchid Island Capital has been operating since 2010 and is headquartered in Vero Beach, Florida. The company's business objective is to provide attractive risk-adjusted total returns over the long term through a combination of capital appreciation and the payment of regular monthly distributions. Orchid Island Capital operates as a real estate investment trust (REIT) and is externally managed by Bimini Advisors, LLC.
In terms of financial activities, Orchid Island Capital entered into equity distribution agreements in 2023, 2024, and 2025, allowing the company to offer and sell shares of its common stock, resulting in aggregate gross proceeds of approximately $903.8 million. The company also has a stock repurchase program, with a total of 6,257,826 shares repurchased at an aggregate cost of approximately $84.8 million through September 30, 2025.
The 10-Q report also discusses factors that affect Orchid Island Capital's results of operations and financial condition, including interest rate trends, changes in the cost of funds, competition for investments in Agency RMBS, and actions taken by the U.S. government. The report highlights the company's net income for the nine months ended September 30, 2025, which was $55.6 million, or $0.48 per share, compared to $32.1 million, or $0.53 per share, for the same period in 2024. Additionally, the report includes GAAP and non-GAAP reconciliations, providing insights into the company's performance beyond traditional financial metrics. The market has reacted to these announcements by moving the company's shares -0.4% to a price of $7.44. Check out the company's full 10-Q submission here.
