--- title: "Orchid Island Capital Announces Estimated Second Quarter 2026 Results and June 30, 2026 RMBS Portfolio Characteristics | ORC Stock News" type: "News" locale: "en" url: "https://longbridge.com/en/news/292527497.md" description: "Orchid Island Capital announced estimated Q2 2026 results, reporting a book value per share of $7.22 and GAAP net income of $0.44 per share, including $0.18 in gains on RMBS and derivatives. The company achieved an estimated total return on equity of 6.2%. These preliminary figures are subject to change and review by independent auditors." datetime: "2026-07-13T12:12:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292527497.md) - [en](https://longbridge.com/en/news/292527497.md) - [zh-HK](https://longbridge.com/zh-HK/news/292527497.md) --- # Orchid Island Capital Announces Estimated Second Quarter 2026 Results and June 30, 2026 RMBS Portfolio Characteristics | ORC Stock News See more from StockTitan in Google Search and AI answers.Adds StockTitan as a preferred source · opens Google Add on Google - Estimated Book Value Per Share as of June 30, 2026 of $7.22 - Estimated GAAP net income of $0.44 per share for the quarter ended June 30, 2026 including an estimated $0.18 per share of net realized and unrealized gains on RMBS and derivative instruments - Estimated 6.2% total return on equity for the quarter ended June 30, 2026 - Estimated book value, net income and total return on equity amounts are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm - RMBS Portfolio Characteristics as of June 30, 2026 Vero Beach, Fla., July 13, 2026 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the “Company”) (NYSE: ORC) announced today its estimated second quarter of 2026 results and portfolio characteristics as of June 30, 2026. **Shares Outstanding** As of July 13, 2026 and June 30, 2026, the Company had 199,603,438 shares of common stock outstanding. As of March 31, 2026, the Company had 196,700,226 shares of common stock outstanding. **Estimated June 30, 2026 Book Value Per Share** The Company’s estimated book value per share as of June 30, 2026 was $7.22. The Company computes book value per share by dividing total stockholders' equity by the total number of outstanding shares of common stock. At June 30, 2026, the Company's preliminary estimated total stockholders' equity was approximately $1.4 billion with 199,603,438 shares of common stock outstanding. These figures and the resulting estimated book value per share are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm. **Estimated Net Income** **Per Share** **and Realized and Unrealized Gains on RMBS and Derivative Instruments** The Company estimates it generated net income per share of $0.44 for the quarter ended June 30, 2026, which includes an estimated $0.18 per share of net realized and unrealized gains on RMBS and derivative instruments. These amounts compare to total dividends declared during the quarter of $0.30 per share. Net income per common share calculated under generally accepted accounting principles can, and does, differ from our real estate investment trust ("REIT") taxable income. The Company views REIT taxable income as a better indication of income to be paid in the form of a dividend rather than net income. Many components of REIT taxable income can only be estimated at this time and our monthly dividends declared are based on both estimates of REIT taxable income to be earned over the course of the current quarter and calendar year and a longer-term estimate of the REIT taxable income of the Company. These figures are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm. **Estimated Total Return on Equity** The Company’s estimated total return on equity for the quarter ended June 30, 2026 was 6.2%. The Company calculates total return on equity as the sum of dividends declared and paid during the quarter plus changes in book value during the quarter, divided by the Company’s stockholders’ equity at the beginning of the quarter. The total return was $0.44 per share, comprised of dividends per share of $0.30 and an increase in book value per share of $0.14 from June 30, 2026. **RMBS Portfolio Characteristics** Details of the RMBS portfolio as of June 30, 2026 are presented below. These figures are preliminary and subject to change and, with respect to figures that will appear in the Company’s financial statements and associated footnotes as of and for the quarter ended June 30, 2026, are subject to review by the Company’s independent registered public accounting firm: - RMBS Valuation Characteristics - RMBS Assets by Agency - Investment Company Act of 1940 (Whole Pool) Test Results - Repurchase Agreement Exposure by Counterparty - RMBS Risk Measures **About Orchid Island Capital, Inc.** Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission. **Forward-Looking Statements** This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon Orchid Island Capital, Inc.’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. **RMBS Valuation Characteristics** _($ in thousands)_ **Realized** **Realized** **Apr-26 -** **Jun-26** **Jun-26** **Net** **Weighted** **CPR** **CPR** **Weighted** **Average** **(1-Month)** **(3-Month)** **Modeled Interest** **Current** **Fair** **% of** **Current** **Average** **Maturity** **(Reported** **(Reported** **Rate Sensitivity (1)** **Type** **Face** **Value** **Portfolio** **Price** **Coupon** **GWAC** **Age** **(Months)** **in July)** **in July)** **(-50 BPS)** **(+50 BPS)** **Fixed Rate RMBS** 30yr 3.0 $ 315,785 $ 280,604 2.43 % 88.86 3.00 % 3.52 % 62 291 8.1 % 6.5 % $ 8,376 $ (8,497 ) 30yr 3.5 37,144 33,944 0.29 % 91.39 3.50 % 4.30 % 81 260 1.7 % 3.7 % 993 (1,011 ) 30yr 4.0 47,532 45,097 0.39 % 94.88 4.00 % 4.77 % 85 270 10.2 % 11.4 % 1,169 (1,208 ) 30yr 4.5 436,796 422,712 3.66 % 96.78 4.50 % 5.46 % 30 326 7.6 % 6.1 % 9,135 (10,098 ) 30yr 5.0 2,163,688 2,140,194 18.55 % 98.91 5.00 % 6.00 % 13 344 4.6 % 5.2 % 40,360 (47,402 ) 30yr 5.5 4,030,632 4,086,306 35.41 % 101.38 5.50 % 6.45 % 13 343 6.4 % 6.6 % 60,965 (76,234 ) 30yr 6.0 3,051,319 3,146,124 27.26 % 103.11 6.00 % 6.92 % 18 336 11.0 % 15.1 % 31,503 (43,625 ) 30yr 6.5 1,261,375 1,317,446 11.42 % 104.45 6.50 % 7.39 % 20 334 22.2 % 22.8 % 9,259 (13,756 ) 30yr 7.0 52,676 55,771 0.48 % 105.88 7.00 % 7.91 % 31 321 15.6 % 42.4 % 458 (600 ) **Total Pass-Through RMBS** 11,396,947 11,528,198 99.90 % 101.15 5.54 % 6.47 % 18 338 9.2 % 10.9 % 162,218 (202,431 ) **Total Structured RMBS** 82,573 11,966 0.10 % 14.49 3.39 % 4.59 % 139 204 7.2 % 7.0 % 63 95 **Total Mortgage Assets** $ 11,479,520 $ 11,540,164 100.00 % 5.52 % 6.45 % 19 337 9.2 % 10.9 % $ 162,281 $ (202,336 ) **Hedge** **Modeled Interest** **Notional** **Period** **Rate Sensitivity (1)** **Hedge** **Balance** **End** **(-50 BPS)** **(+50 BPS)** 3-Month SOFR Futures $ (390,000 ) Jan-27 $ (1,950 ) $ 1,950 10-Year Treasury Future(3) (188,600 ) May-33 (6,062 ) 5,854 10-Year Ultra Treasury Future(4) (60,000 ) Feb-36 (2,628 ) 2,542 ERIS SOFR Swap Futures (10,000 ) Sep-31 (182 ) 177 Swaps (7,814,200 ) Feb-31 (160,872 ) 155,615 Swaptions (1,000,000 ) Dec-31 (2,737 ) 5,001 TBA Short (594,900 ) Jul-26 (8,005 ) 10,686 **Hedge Total** $ (10,057,700 ) $ (182,436 ) $ 181,825 **Rate Shock Grand Total** $ (20,155 ) $ (20,511 ) (1) Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant SOFR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially. (2) Ten-year Treasury futures contracts were valued at prices of $109.89 at June 30, 2026. The market value of the short position was $207.3 million. (3) Ten-year Ultra futures contracts were valued at prices of $112.47 at June 30, 2026 The market value of the short position was $67.5 million. **RMBS Assets by Agency** _($ in thousands)_ **Percentage** **Fair** **of** **Asset Category** **Value** **Portfolio** **As of June 30, 2026** Fannie Mae $ 6,022,656 52.2 % Freddie Mac 5,517,509 47.8 % Total Mortgage Assets $ 11,540,165 100.0 % **Investment Company Act of 1940 Whole Pool Test** _($ in thousands)_ **Percentage** **Fair** **of** **Asset Category** **Value** **Portfolio** **As of June 30, 2026** Non-Whole Pool Assets $ 574,055 5.0 % Whole Pool Assets 10,966,109 95.0 % Total Mortgage Assets $ 11,540,164 100.0 % **Borrowings By Counterparty** _($ in thousands)_ **Weighted** **Weighted** **% of** **Average** **Average** **Total** **Total** **Repo** **Maturity** **Longest** **As of June 30, 2026** **Borrowings** **Debt** **Rate** **in Days** **Maturity** Wells Fargo Securities, LLC $ 568,720 5.1 % 3.77 % 14 8/19/2026 Marex Capital Markets Inc. 497,411 4.5 % 3.78 % 20 7/23/2026 StoneX Financial Inc. 486,529 4.4 % 3.79 % 73 9/23/2026 Hidden Road Partners Civ US LLC 484,902 4.4 % 3.76 % 53 8/26/2026 Citigroup Global Markets Inc 483,698 4.4 % 3.76 % 29 9/21/2026 ABN AMRO Bank N.V. 477,675 4.3 % 3.76 % 24 7/27/2026 ASL Capital Markets Inc. 472,828 4.3 % 3.77 % 57 9/21/2026 The Bank of Nova Scotia 460,634 4.2 % 3.75 % 27 8/13/2026 South Street Securities, LLC 458,067 4.1 % 3.82 % 68 11/13/2026 J.P. Morgan Securities LLC 451,719 4.1 % 3.78 % 27 7/27/2026 RBC Capital Markets, LLC 445,012 4.0 % 3.82 % 27 7/27/2026 Cantor Fitzgerald & Co 424,847 3.8 % 3.76 % 24 7/24/2026 DV Securities, LLC Repo 423,823 3.8 % 3.77 % 47 8/27/2026 Banco Santander SA 413,756 3.7 % 3.77 % 14 7/20/2026 Daiwa Securities America Inc. 407,688 3.7 % 3.81 % 67 9/23/2026 Clear Street LLC 407,554 3.7 % 3.76 % 17 7/20/2026 Goldman, Sachs & Co 395,928 3.6 % 3.76 % 27 7/27/2026 Bank of Montreal 376,058 3.4 % 3.76 % 15 7/15/2026 ING Financial Markets LLC 370,344 3.3 % 3.80 % 13 7/13/2026 Brean Capital, LLC 299,159 2.7 % 3.76 % 21 7/27/2026 Mirae Asset Securities (USA) Inc. 296,573 2.7 % 3.79 % 47 8/24/2026 MUFG Securities Canada, Ltd. 268,537 2.4 % 3.75 % 30 8/4/2026 Morgan Stanley & Co. LLC 260,567 2.4 % 3.74 % 9 7/15/2026 Merrill Lynch, Pierce, Fenner & Smith 252,699 2.3 % 3.78 % 26 7/27/2026 Mitsubishi UFJ Securities (USA), Inc. 239,196 2.2 % 3.77 % 22 7/22/2026 TD Securities (USA) LLC 219,140 2.0 % 3.78 % 42 8/11/2026 Nomura Securities International, Inc. 212,865 1.9 % 3.76 % 40 8/14/2026 Mizuho Securities USA LLC 182,067 1.6 % 3.77 % 15 7/15/2026 Natixis, New York Branch 137,685 1.2 % 3.76 % 19 7/24/2026 BNP Paribas Securities Corp. 135,654 1.2 % 3.78 % 41 8/10/2026 Lucid Prime Fund, LLC 30,438 0.3 % 3.75 % 16 7/16/2026 Canyon Partners, LLC 23,899 0.2 % 3.71 % 17 7/17/2026 Mesirow Financial, Inc. 21,243 0.2 % 3.75 % 16 7/16/2026 Total Borrowings $ 11,086,915 100.0 % 3.77 % 32 11/13/2026 **Contact:** Orchid Island Capital, Inc. Robert E. Cauley 3305 Flamingo Drive, Vero Beach, Florida 32963 Telephone: (772) 231-1400 ### Related Stocks - [ORC.US](https://longbridge.com/en/quote/ORC.US.md) - [FNMA.US](https://longbridge.com/en/quote/FNMA.US.md) - [FMCC.US](https://longbridge.com/en/quote/FMCC.US.md) ## Related News & Research - [ORC: Q2 2026 saw a return to profitability, higher book value, and stable leverage amid volatile markets](https://longbridge.com/en/news/293668629.md) - [ORC: Net income surged to $69.2M in H1 2026, with stable leverage and robust liquidity](https://longbridge.com/en/news/293788053.md) - [Orchid Island Capital posts Q2 profit as portfolio grows](https://longbridge.com/en/news/293663865.md) - [ORC: Q2 delivered improved earnings and book value, but rising uncertainty and volatility persist](https://longbridge.com/en/news/293775298.md) - [Orchid Island Capital, Inc. 6M 2026: Revenue $322M, EPS $0.35— 10-Q Summary](https://longbridge.com/en/news/293788477.md)