Vero Beach, Fla., July 13, 2026 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the “Company”) NYSE:ORC announced today its estimated second quarter of 2026 results and portfolio characteristics as of June 30, 2026.
Shares Outstanding
As of July 13, 2026 and June 30, 2026, the Company had 199,603,438 shares of common stock outstanding. As of March 31, 2026, the Company had 196,700,226 shares of common stock outstanding.
Estimated June 30, 2026 Book Value Per Share
The Company’s estimated book value per share as of June 30, 2026 was $7.22. The Company computes book value per share by dividing total stockholders' equity by the total number of outstanding shares of common stock. At June 30, 2026, the Company's preliminary estimated total stockholders' equity was approximately $1.4 billion with 199,603,438 shares of common stock outstanding. These figures and the resulting estimated book value per share are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm.
Estimated Net Income Per Share and Realized and Unrealized Gains on RMBS and Derivative Instruments
The Company estimates it generated net income per share of $0.44 for the quarter ended June 30, 2026, which includes an estimated $0.18 per share of net realized and unrealized gains on RMBS and derivative instruments. These amounts compare to total dividends declared during the quarter of $0.30 per share. Net income per common share calculated under generally accepted accounting principles can, and does, differ from our real estate investment trust ("REIT") taxable income. The Company views REIT taxable income as a better indication of income to be paid in the form of a dividend rather than net income. Many components of REIT taxable income can only be estimated at this time and our monthly dividends declared are based on both estimates of REIT taxable income to be earned over the course of the current quarter and calendar year and a longer-term estimate of the REIT taxable income of the Company. These figures are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm.
Estimated Total Return on Equity
The Company’s estimated total return on equity for the quarter ended June 30, 2026 was 6.2%. The Company calculates total return on equity as the sum of dividends declared and paid during the quarter plus changes in book value during the quarter, divided by the Company’s stockholders’ equity at the beginning of the quarter. The total return was $0.44 per share, comprised of dividends per share of $0.30 and an increase in book value per share of $0.14 from June 30, 2026.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of June 30, 2026 are presented below. These figures are preliminary and subject to change and, with respect to figures that will appear in the Company’s financial statements and associated footnotes as of and for the quarter ended June 30, 2026, are subject to review by the Company’s independent registered public accounting firm:
- RMBS Valuation Characteristics
- RMBS Assets by Agency
- Investment Company Act of 1940 (Whole Pool) Test Results
- Repurchase Agreement Exposure by Counterparty
- RMBS Risk Measures
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon Orchid Island Capital, Inc.’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
| RMBS Valuation Characteristics | ($ in thousands) | Realized | Realized Apr-26 - | Jun-26 Jun-26 | Net Weighted CPR CPR | Weighted Average (1-Month) (3-Month) Modeled Interest | Current Fair % of Current Average Maturity (Reported (Reported Rate Sensitivity (1) | Type Face Value Portfolio Price Coupon GWAC Age (Months) in July) in July) (-50 BPS) (+50 BPS) | Fixed Rate RMBS | 30yr 3.0 $315,785 $280,604 2.43% 88.86 3.00% 3.52% 62 291 8.1% 6.5% $8,376 $(8,497) | 30yr 3.5 37,144 33,944 0.29% 91.39 3.50% 4.30% 81 260 1.7% 3.7% 993 (1,011) | 30yr 4.0 47,532 45,097 0.39% 94.88 4.00% 4.77% 85 270 10.2% 11.4% 1,169 (1,208) | 30yr 4.5 436,796 422,712 3.66% 96.78 4.50% 5.46% 30 326 7.6% 6.1% 9,135 (10,098) | 30yr 5.0 2,163,688 2,140,194 18.55% 98.91 5.00% 6.00% 13 344 4.6% 5.2% 40,360 (47,402) | 30yr 5.5 4,030,632 4,086,306 35.41% 101.38 5.50% 6.45% 13 343 6.4% 6.6% 60,965 (76,234) | 30yr 6.0 3,051,319 3,146,124 27.26% 103.11 6.00% 6.92% 18 336 11.0% 15.1% 31,503 (43,625) | 30yr 6.5 1,261,375 1,317,446 11.42% 104.45 6.50% 7.39% 20 334 22.2% 22.8% 9,259 (13,756) | 30yr 7.0 52,676 55,771 0.48% 105.88 7.00% 7.91% 31 321 15.6% 42.4% 458 (600) | Total Pass-Through RMBS 11,396,947 11,528,198 99.90% 101.15 5.54% 6.47% 18 338 9.2% 10.9% 162,218 (202,431) | Total Structured RMBS 82,573 11,966 0.10% 14.49 3.39% 4.59% 139 204 7.2% 7.0% 63 95 | Total Mortgage Assets $11,479,520 $11,540,164 100.00% 5.52% 6.45% 19 337 9.2% 10.9% $162,281 $(202,336) |
| Hedge Modeled Interest | NotionalPeriod Rate Sensitivity (1) | HedgeBalanceEnd (-50 BPS) (+50 BPS) | 3-Month SOFR Futures$(390,000)Jan-27 $(1,950) $1,950 | 10-Year Treasury Future(3) (188,600)May-33 (6,062) 5,854 | 10-Year Ultra Treasury Future(4) (60,000)Feb-36 (2,628) 2,542 | ERIS SOFR Swap Futures (10,000)Sep-31 (182) 177 | Swaps (7,814,200)Feb-31 (160,872) 155,615 | Swaptions (1,000,000)Dec-31 (2,737) 5,001 | TBA Short (594,900)Jul-26 (8,005) 10,686 | Hedge Total$(10,057,700) $(182,436) $181,825 | Rate Shock Grand Total $(20,155) $(20,511) |
| (1)Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant SOFR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially. | (2)Ten-year Treasury futures contracts were valued at prices of $109.89 at June 30, 2026. The market value of the short position was $207.3 million. | (3)Ten-year Ultra futures contracts were valued at prices of $112.47 at June 30, 2026 The market value of the short position was $67.5 million. |
| RMBS Assets by Agency | ($ in thousands) | Percentage | Fair of | Asset Category Value Portfolio | As of June 30, 2026 | Fannie Mae $6,022,656 52.2% | Freddie Mac 5,517,509 47.8% | Total Mortgage Assets $11,540,165 100.0% |
| Investment Company Act of 1940 Whole Pool Test | ($ in thousands) | Percentage | Fair of | Asset Category Value Portfolio | As of June 30, 2026 | Non-Whole Pool Assets $574,055 5.0% | Whole Pool Assets 10,966,109 95.0% | Total Mortgage Assets $11,540,164 100.0% |
| Borrowings By Counterparty | ($ in thousands) | Weighted Weighted | % of Average Average | Total Total Repo Maturity Longest | As of June 30, 2026 Borrowings Debt Rate in Days Maturity | Wells Fargo Securities, LLC $568,720 5.1% 3.77% 14 8/19/2026 | Marex Capital Markets Inc. 497,411 4.5% 3.78% 20 7/23/2026 | StoneX Financial Inc. 486,529 4.4% 3.79% 73 9/23/2026 | Hidden Road Partners Civ US LLC 484,902 4.4% 3.76% 53 8/26/2026 | Citigroup Global Markets Inc 483,698 4.4% 3.76% 29 9/21/2026 | ABN AMRO Bank N.V. 477,675 4.3% 3.76% 24 7/27/2026 | ASL Capital Markets Inc. 472,828 4.3% 3.77% 57 9/21/2026 | The Bank of Nova Scotia 460,634 4.2% 3.75% 27 8/13/2026 | South Street Securities, LLC 458,067 4.1% 3.82% 68 11/13/2026 | J.P. Morgan Securities LLC 451,719 4.1% 3.78% 27 7/27/2026 | RBC Capital Markets, LLC 445,012 4.0% 3.82% 27 7/27/2026 | Cantor Fitzgerald & Co 424,847 3.8% 3.76% 24 7/24/2026 | DV Securities, LLC Repo 423,823 3.8% 3.77% 47 8/27/2026 | Banco Santander SA 413,756 3.7% 3.77% 14 7/20/2026 | Daiwa Securities America Inc. 407,688 3.7% 3.81% 67 9/23/2026 | Clear Street LLC 407,554 3.7% 3.76% 17 7/20/2026 | Goldman, Sachs & Co 395,928 3.6% 3.76% 27 7/27/2026 | Bank of Montreal 376,058 3.4% 3.76% 15 7/15/2026 | ING Financial Markets LLC 370,344 3.3% 3.80% 13 7/13/2026 | Brean Capital, LLC 299,159 2.7% 3.76% 21 7/27/2026 | Mirae Asset Securities (USA) Inc. 296,573 2.7% 3.79% 47 8/24/2026 | MUFG Securities Canada, Ltd. 268,537 2.4% 3.75% 30 8/4/2026 | Morgan Stanley & Co. LLC 260,567 2.4% 3.74% 9 7/15/2026 | Merrill Lynch, Pierce, Fenner & Smith 252,699 2.3% 3.78% 26 7/27/2026 | Mitsubishi UFJ Securities (USA), Inc. 239,196 2.2% 3.77% 22 7/22/2026 | TD Securities (USA) LLC 219,140 2.0% 3.78% 42 8/11/2026 | Nomura Securities International, Inc. 212,865 1.9% 3.76% 40 8/14/2026 | Mizuho Securities USA LLC 182,067 1.6% 3.77% 15 7/15/2026 | Natixis, New York Branch 137,685 1.2% 3.76% 19 7/24/2026 | BNP Paribas Securities Corp. 135,654 1.2% 3.78% 41 8/10/2026 | Lucid Prime Fund, LLC 30,438 0.3% 3.75% 16 7/16/2026 | Canyon Partners, LLC 23,899 0.2% 3.71% 17 7/17/2026 | Mesirow Financial, Inc. 21,243 0.2% 3.75% 16 7/16/2026 | Total Borrowings $11,086,915 100.0% 3.77% 32 11/13/2026 |
Contact:
Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400