Orchid Island Capital Files 8-K on Operations & Financial Condition

TL;DR

**ORC just dropped an 8-K on its latest financial results, pay attention!**

AI Summary

Orchid Island Capital, Inc. filed an 8-K on January 10, 2024, to report on its 'Results of Operations and Financial Condition' and 'Other Events'. This filing indicates that the company is providing an update on its financial performance, which is crucial for investors to understand the company's current health and future prospects. For shareholders, this matters because it offers transparency into the company's recent financial activities, potentially influencing their decision to hold, buy, or sell the stock.

Why It Matters

This filing provides a timely update on Orchid Island Capital's financial performance, which is essential for investors to assess the company's stability and potential for returns.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial results and other events, not indicating any immediate new risks.

Analyst Insight

Investors should review the full details of the 'Results of Operations and Financial Condition' and 'Other Events' once available to understand the specific financial performance and any significant developments impacting Orchid Island Capital, Inc. This filing itself is a procedural announcement, but the underlying content will be key.

Key Players & Entities

• Orchid Island Capital, Inc. (company) — the registrant filing the 8-K
• January 10, 2024 (date) — date of earliest event reported and filing date
• $0.01 (dollar_amount) — par value per share of Common Stock
• ORC (company) — trading symbol for Orchid Island Capital, Inc.
• NYSE (company) — exchange where Orchid Island Capital, Inc. Common Stock is registered

FAQ

Key Financial Figures

• $0.01 — registered: Common Stock , par value $0.01 per share ORC NYSE   Indicat
• $9.10 — ) announced its estimated book value of $9.10 per share as of December 31, 2023, cert
• $0 — nd estimated GAAP net loss per share of $0.52, including an estimated $0.65&#
• $0.65 — e of $0.52, including an estimated $0.65 per share of net realized and unre
• $0.12 — the month of January 2024 of $0.12 per share of the Company's common

Filing Documents

• orc20240109_8k.htm (8-K) — 25KB
• ex_613552.htm (EX-99.1) — 366KB
• 0001437749-24-001130.txt ( ) — 541KB
• orc-20240110.xsd (EX-101.SCH) — 3KB
• orc-20240110_def.xml (EX-101.DEF) — 11KB
• orc-20240110_lab.xml (EX-101.LAB) — 15KB
• orc-20240110_pre.xml (EX-101.PRE) — 11KB
• orc20240109_8k_htm.xml (XML) — 2KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition.   On January 10, 2024, Orchid Island Capital, Inc. (the "Company") announced its estimated book value of $9.10 per share as of December 31, 2023, certain details of its RMBS portfolio as of December 31, 2023, and estimated GAAP net loss per share of $0.52, including an estimated $0.65 per share of net realized and unrealized losses on RMBS and derivative instruments, for the quarter ended December 31, 2023.  These figures and the estimated book value per share and estimated GAAP net income per share are preliminary, subject to change, and subject to review by the Company's independent registered public accounting firm.  

01. Other Events

Item 8.01. Other Events.   On January 10, 2024, the Company announced that the Board of Directors of the Company declared a dividend for the month of January 2024 of $0.12 per share of the Company's common stock, to be paid on February 27, 2024 to holders of record on January 31, 2024, with an ex-dividend date of January 30, 2024. In addition, the Company announced certain details of its RMBS portfolio as of December 31, 2023 as well as certain other information regarding the Company. A copy of the Company's press release announcing the dividend and the other information regarding the Company is attached hereto as Exhibit 99.1 and incorporated herein by this reference.   Caution About Forward-Looking Statements.   This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including, but not limited to, statements about the Company's distributions. These forward-looking statements are based upon the Company's present expectations, but the Company cannot assure investors that actual results will not vary from the expectations contained in the forward-looking statements. 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, 2022. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.   (d) Exhibits   Exhibit No.   Description 99.1   Press Release dated January 10, 2024 104   Cover Page Interactive Data File (embedded within the Inline XBRL document)        

Signatures

Signatures   Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.   Date: January 10, 2024   ORCHID ISLAND CAPITAL, INC.           By: /s/ Robert E. Cauley     Robert E. Cauley     Chairman and Chief Executive Officer    

View Full Filing

View this 8-K filing on SEC EDGAR