Orchid Island Capital reported a net loss of $148.7 million for the first quarter of 2022, driven by net realized and unrealized losses on RMBS and derivative instruments. The company strategically reduced its portfolio size and repositioned its hedge positions to navigate the challenging market conditions.
Net loss of $148.7 million, or $0.84 per common share.
Net interest income of $39.2 million, or $0.22 per common share.
Book value per common share of $3.34 at March 31, 2022.
Leverage ratio decreased from 8.1 to one to 7.5 to one.
The company aims to preserve liquidity and minimize the impact of market volatility on its portfolio to capitalize on more favorable market conditions in the future.
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