Orchid Island Capital Reports Q1 GAAP EPS of $0.10
April 15, 2023
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ORCHID ISLAND CAPITAL ($NYSE:ORC) is a real estate investment trust (REIT) that specializes in mortgage-backed securities. They are headquartered in Vero Beach, Florida, and are a publicly traded company listed on the New York Stock Exchange (NYSE). The company seeks to provide investors with consistent cash flow and capital appreciation through investments in residential mortgage-backed securities. They focus on investing in assets backed by government agencies such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
The company has experienced strong growth over the past year due to higher interest rates and increased demand for mortgage-backed securities. Going forward, they remain optimistic about their prospects and continue to seek opportunities to increase their portfolio of investments.
Market Price
This marks an increase of one penny, with the stock closing at $11.1 at the end of the trading day. This positive performance follows ORC’s recent announcement of a new share repurchase program and its filing of a shelf registration statement with the Securities and Exchange Commission (SEC). ORC will continue to focus on creating value for shareholders by delivering strong operating results and prudent financial management. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for ORC. More…
| Total Revenues | Net Income | Net Margin |
| -237.74 | -258.45 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for ORC. More…
| Operations | Investing | Financing |
| 289.37 | 2.44k | -2.94k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for ORC. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.87k | 3.43k | 11.76 |
Key Ratios Snapshot
Some of the financial key ratios for ORC are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale has conducted an analysis of ORCHID ISLAND CAPITAL’s financials and found that according to Star Chart, ORCHID ISLAND CAPITAL has a low health score of 3/10 with regard to its cashflows and debt. This suggests that ORCHID ISLAND CAPITAL is less likely to pay off debt and fund future operations. Furthermore, ORCHID ISLAND CAPITAL is strong in asset, medium in dividend and weak in growth and profitability. Based on this, we classify ORCHID ISLAND CAPITAL as a ‘cow’ – a type of company we conclude that has the track record of paying out consistent and sustainable dividends. Investors looking for steady income may be interested in such a company. Investors with a moderate risk appetite may find value in the company’s dividend yield and stability even though it may not have the opportunity for significant capital appreciation. Furthermore, the company’s structure as a ‘cow’ suggests that it is well-funded and able to sustain its operations in the long-term. More…
Peers
The company’s competitors include Invesco Mortgage Capital Inc, Chimera Investment Corp, and AGNC Investment Corp.
– Invesco Mortgage Capital Inc ($NYSE:IVR)
Invesco Mortgage Capital Inc is a US-based real estate investment trust. It is engaged in the business of investing in, financing, and managing residential and commercial mortgage-backed securities and other mortgage-related assets.
The company had a market capitalization of $424.93 million as of March 31, 2022. Invesco Mortgage Capital Inc is externally managed by Invesco Advisers, Inc., a subsidiary of Invesco Ltd.
– Chimera Investment Corp ($NYSE:CIM)
Chimera Investment Corporation is a real estate investment trust that focuses on investments in the residential mortgage-backed securities market. The company has a market cap of 1.45B as of 2022. Chimera was founded in 2007 and is headquartered in New York, NY.
– AGNC Investment Corp ($NASDAQ:AGNC)
AGNC Investment Corp is a publicly traded real estate investment trust that invests in residential mortgage-backed securities. The company is headquartered in Bethesda, Maryland, and is externally managed by American Capital Agency Management LLC, a wholly owned subsidiary of American Capital Ltd. As of December 31, 2020, AGNC Investment Corp had a portfolio of $145.6 billion of residential mortgage-backed securities and $5.6 billion of other investments.
Summary
Orchid Island Capital is an investment company that specializes in mortgage-backed securities. Its portfolio consists mainly of Agency RMBS, which are purchased from Ginnie Mae, Fannie Mae and Freddie Mac. The company’s performance is driven by the movement of interest rates, prepayment speeds and market conditions. Its primary focus is to generate income and capital appreciation through investments in Agency RMBS. Investors should monitor the company’s performance on an ongoing basis, as conditions in the mortgage-backed securities market can quickly change.
Additionally, investors should pay attention to the company’s dividend policy, given its attractive yield. Lastly, it is important to consider any factors that may impact the company’s short-term performance, such as changes in market conditions and prepayment speeds.
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