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January 2023
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Net loss of $3.0 million, or $0.06 per common share, which consists of:
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Net interest income of $20.2 million, or $0.39 per common share
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Total expenses of $3.0 million, or $0.06 per common share
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Net realized and unrealized losses of $20.1 million, or $0.39 per share, on RMBS and derivative instruments, including net interest income on interest rate swaps
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Third quarter total dividends declared and paid of $0.25 per common share
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Book value per share of $7.56 at September 30, 2018
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0.6% economic loss on common equity for the quarter, or 2.5% annualized, comprised of $0.25 dividend per common share and $0.30 decrease in net book value per common share, divided by beginning book value per share
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Company to discuss results on Friday, October 26, 2018, at 10:00 AM ET
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Supplemental materials to be discussed on the call can be downloaded from the investor relations section of the Company's website at www.orchidislandcapital.com
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Orchid Island Capital, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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Because POs act like zero-coupon bonds, meaning they are purchased at a discount to their par value and have an effective interest rate based on the discount and the term of the underlying loan, an increase in prepayment rates would reduce the effective term of our POs and accelerate the yields earned on those assets, which would increase our net income.
Because POs act like zero-coupon bonds, meaning they are purchased at a discount to their par value and have an effective interest rate based on the discount and the term of the underlying loan, an increase in prepayment rates would reduce the effective term of our POs and accelerate the yields earned on those assets, which would increase our net income.
This is because a principal prepayment accelerates the effective term of an Agency RMBS, which would shorten the period during which an investor would receive above-market returns (assuming the yield on the prepaid asset is higher than market yields).
This is because a principal prepayment accelerates the effective term of an Agency RMBS, which would shorten the period during which an investor would receive above-market returns (assuming the yield on the prepaid asset is higher than market yields).
Conversely, if the market value of the asset pledged increases in value, we would be over collateralized and we would be entitled to have excess margin returned to us by the counterparty.
Conversely, if the market value...Read more
To the extent the market...Read more
To the extent the market...Read more
The increase in average outstanding...Read more
The increase in average outstanding...Read more
As of September 30, 2018,...Read more
As of September 30, 2018,...Read more
On February 8, 2018, the...Read more
On February 8, 2018, the...Read more
Economic Interest Expense and Economic...Read more
Management believes that we currently...Read more
Management believes that we currently...Read more
Under the Final Rule, there...Read more
Under the Final Rule, there...Read more
Stock Repurchase Agreement On July...Read more
On July 29, 2015, the...Read more
More specifically, principal payments received...Read more
More specifically, principal payments received...Read more
We invest in RMBS with...Read more
We invest in RMBS with...Read more
This means that to the...Read more
This means that to the...Read more
If Fannie Mae and Freddie...Read more
If Fannie Mae and Freddie...Read more
As in the nine months...Read more
As in the nine months...Read more
The tables below present the...Read more
The tables below present the...Read more
We had average outstanding borrowings...Read more
We had average outstanding borrowings...Read more
We had average outstanding borrowings...Read more
Effective duration quotes for individual...Read more
Therefore, Orchid Island Casualty, along...Read more
Therefore, Orchid Island Casualty, along...Read more
In September 2017, the FOMC...Read more
In September 2017, the FOMC...Read more
Contributing to the increase in...Read more
Contributing to the increase in...Read more
However, we anticipate that we...Read more
However, we anticipate that we...Read more
Borrowings Borrowings As of September...Read more
We issued a total of...Read more
We issued a total of...Read more
We issued a total of...Read more
Through September 30, 2018, we...Read more
We issued a total of...Read more
Through September 30, 2018, we...Read more
We issued a total of...Read more
We issued a total of...Read more
Through September 30, 2018, we...Read more
We issued a total of...Read more
We issued a total of...Read more
Through September 30, 2018, we...Read more
Our most critical accounting policies...Read more
Our most critical accounting policies...Read more
In this case the spread...Read more
Going forward, the relative performance...Read more
Going forward, the relative performance...Read more
On August 2, 2017, we...Read more
On August 2, 2017, we...Read more
On August 2, 2017, we...Read more
On August 2, 2017, we...Read more
This is because investors typically...Read more
This is because investors typically...Read more
For the nine months ended...Read more
For the nine months ended...Read more
Our business objective is to...Read more
Our business objective is to...Read more
We generated cash flows of...Read more
We generated cash flows of...Read more
The components of net (loss)...Read more
The increase in economic interest...Read more
The increase in economic interest...Read more
The higher cost of funds...Read more
The higher cost of funds...Read more
As in the nine months...Read more
As in the nine months...Read more
The purchases each month by...Read more
The purchases each month by...Read more
Also, prepayment proceeds may not...Read more
Also, prepayment proceeds may not...Read more
Up until the third quarter,...Read more
Up until the third quarter,...Read more
From the inception of the...Read more
From the inception of the...Read more
The decrease in the average...Read more
The decrease in the average...Read more
Second, while we believe that...Read more
Second, while we believe that...Read more
The percentage of capital that...Read more
The percentage of capital that...Read more
As the expected average life...Read more
As the expected average life...Read more
When the market causes these...Read more
When the market causes these...Read more
Economic growth that handily exceeds...Read more
Economic growth that handily exceeds...Read more
(1) Portfolio yields and costs...Read more
Interest Expense and the Cost...Read more
As interest rates rise, the...Read more
As interest rates rise, the...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Orchid Island Capital, Inc. provided additional information to their SEC Filing as exhibits
Ticker: ORC
CIK: 1518621
Form Type: 10-Q Quarterly Report
Accession Number: 0001275477-18-000150
Submitted to the SEC: Fri Oct 26 2018 10:36:59 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Real Estate Investment Trusts