Bimini Capital Managment, Inc. (PK:BMNM)

Sector:  Financials Industry:  Specialized REITs
See Regulatory Filings on SEC
Company Contact
Address: 3305 Flamingo Dr
VERO BEACH FL 32963-1731
Tel: N/A
IR: See website
Key People
Robert E. Cauley
Chairman of the Board, Chief Executive Officer, Secretary
George Hunter Haas
President, Chief Financial Officer, Chief Investment Officer
Business Overview
Bimini Capital Management, Inc. is a specialty finance company. The Company primarily invests in mortgage-backed securities (MBS). The principal and interest payments of these MBS are guaranteed by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) or the Government National Mortgage Association (Ginnie Mae), and are backed primarily by single-family residential mortgage loans. The Company's portfolio consists of approximately two categories of Agency MBS, such as traditional pass-through Agency MBS and structured Agency MBS, such as collateralized mortgage obligations (CMOs), interest only securities (IOs), inverse interest only securities (IIOs) and principal only (POs). The Company funds its pass-through Agency MBS and certain of its structured Agency MBS, such as fixed and floating rate tranches of CMOs and POs, through repurchase agreements.
Financial Overview
For the nine months ended 30 September 2019, Bimini Capital Managment, Inc. revenues increased 96% to $11.6M. Net income totaled $345K vs. loss of $2.2M. Revenues reflect Unrealized G/L on Investment Securities increase from -$8.4M to $6.2M, Unrealized gains on Orchid Island Capita increase of 68% to -$973K, Realized gains on mortgage-backed securi increase from -$577K to $23K.
Employees: 7 as of Dec 31, 2013
Reporting Currency: U.S. Dollars
Enterprise value: $189.82M as of Sep 30, 2019
Annual revenue (TTM): $12.02M as of Sep 30, 2019
EBITDA (TTM): -$0.76M as of Sep 30, 2019
Net annual income (TTM): -$24.26M as of Sep 30, 2019
Free cash flow (TTM): -$3.17M as of Sep 30, 2019
Net Debt Last Fiscal Year: $173.48M as of Sep 30, 2019
Shares outstanding: 11,672,431 as of Nov 8, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization