Yesterday, 4:46 PM| 11 Comments
Tue, Feb. 24, 10:47 AM
- Q4 net income of $3.5M or $0.24 per share vs. $6.8M and $0.63 in Q3. This quarter's net income includes net interest income of $11M and net portfolio losses of $6.1M. In Q3, net interest income of $8.5M and net portfolio losses of $300K.
- End-of-Q4 book value per share of $13.06 vs. $13.27 at end of Q3. The current stock price is $13.63.
- Economic gain - the $0.54 dividend less the $0.21 decline in book value - of 2.5%, or 10% annualized.
- Another 3.7M shares sold through ATM program during quarter, bringing total for 2014 to 5.1M shares for nearly $50M in gross proceeds. Putting money to work, the RMBS portfolio grew 32% during Q4.
- Management notes the portfolio is positioned for continued moderate prepayment speeds. "We do not expect a significant wave of mortgage refinancings."
- Previously: Orchid Island Capital EPS of $0.24 (Feb. 23)
- ORC -2.6%
Mon, Feb. 23, 4:26 PM
Oct. 28, 2014, 10:10 AM
- Net income of $6.8M of $0.63 per share includes net interest income of $8.5M and net portfolio losses of $300K.
- Book value per share of $13.27 up from $13.05 at end of Q2. The current price of $14.45 is a perky 1.09x book. Orchid Island (ORC -1.6%) has pushed out two secondaries and two equity distribution agreements this year.
- Boost in book value plus $0.54 in dividends yields a 5.8% economic gain for the quarter (23.2% annualized).
- Conference call at 10 ET
- Previously: Orchid Island Capital misses by $0.03, beats on revenue
Oct. 27, 2014, 4:19 PM| Comment!
Jul. 31, 2014, 1:15 PM
- Q2 net income of $10.6M included net interest income of $5.9M, net gains of $5.8M, and some small charges. $279.5M of MBS were sold during quarter resulting in net gain of $3M; the remainder of the gains were fair value adjustments.
- Book value per share of $13.05 up from $12.47 at the end of Q1. The current price of $13.24 is a slight premium to book - pricey in the MBS sector at the moment.
- Previously: Orchid Island Capital EPS of $1.17
- Today's 3.6% decline in ORC comes after a 15% run higher since the end of Q1.
Jul. 29, 2014, 5:30 PM
May. 1, 2014, 6:52 PM
Aug. 1, 2013, 6:56 PM
ORC vs. ETF Alternatives
Orchid Island Capital, Inc. is a specialty finance company that invests in residential mortgage-backed securities, or RMBS. The principal and interest payments of these RMBS are guaranteed by the Federal National Mortgage Association, or Fannie Mae, the Federal Home Loan Mortgage Corporation, or... More
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