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Mar 31, 2024
Orchid Island Q1 2024 Earnings Report
Orchid Island Capital reported net income of $19.8 million, or $0.38 per common share, and a book value per common share of $9.12 at March 31, 2024.
Key Takeaways
Orchid Island Capital reported a net income of $19.8 million, or $0.38 per common share, for the first quarter of 2024. The company's book value per common share was $9.12 at the end of the quarter. The total return for the quarter was 4.18%, including a dividend of $0.36 per common share.
Net income for Q1 2024 was $19.8 million, or $0.38 per common share.
Net interest expense was $2.5 million, or $0.05 per common share.
Net realized and unrealized gains on RMBS and derivative instruments were $26.0 million, or $0.50 per common share.
Book value per common share was $9.12 at March 31, 2024.
Forward Guidance
The outlook for the performance of Agency RMBS is unclear, and there is a possibility the sector could underperform in the near term if current trends continue. The company expects to continue to add higher coupons to mitigate the lower carry of our legacy assets, thus allowing us to retain their higher return potential in the event of a normalization of rates and U.S. Treasury curve shape.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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