Sector: N/A | Industry: N/A |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 3305 Flamingo Dr VERO BEACH FL 32963-1731 |
Tel: | 1-772-2311400 |
Website: | https://www.orchidislandcapital.com |
IR: | See website |
Key People | ||
Robert E. Cauley Chairman of the Board, President, Chief Executive Officer | George Hunter Haas Chief Financial Officer, Chief Investment Officer, Secretary, Director |
Business Overview |
Orchid Island Capital, Inc. is a specialty finance company that invests in residential mortgage-backed securities RMBS. The Company's investment portfolio consists of two categories of Agency RMBS: traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations (CMOs) issued by the government-sponsored enterprise (GSEs), and structured Agency RMBS, such as interest only securities (IOs), inverse interest only securities and principal only securities (POs), among other types of structured Agency RMBS. The Company's business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions. The Company intends to achieve this objective by investing in and strategically allocating capital between pass-through Agency RMBS and structured Agency RMBS. The Company is externally managed by Bimini Advisors, LLC. |
Financial Overview |
For the three months ended 31 March 2024, Orchid Island Capital Inc revenues increased 48% to $74.9M. Net income increased from $3.5M to $19.8M. Revenues reflect Gain loss on Eurodollar futures increase from -$41.2M to $87.9M, Interest income increase of 29% to $48.9M. Net income benefited from Incentive compensation decrease from $470K (expense) to $89K (income), Other administrative expenses decrease of 75% to $93K (expense). |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $3,985M as of Mar 31, 2024 |
Annual revenue (TTM): | $205.35M as of Mar 31, 2024 |
EBITDA (TTM): | -$22.98M as of Mar 31, 2024 |
Net annual income (TTM): | -$22.98M as of Mar 31, 2024 |
Free cash flow (TTM): | -$25.26M as of Mar 31, 2024 |
Net Debt Last Fiscal Year: | $3,521M as of Mar 31, 2024 |
Shares outstanding: | 54,389,261 as of May 8, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |