Orchid Island Capital Swings to $89.2M Q2 Profit, Book Value Rises to $7.22
ORC is trading near its 52-week low of $6.415 (3.8% above the low).
Summary
Orchid Island Capital reported Q2 2026 net income of $89.2 million ($0.44/share), a sharp reversal from a year-ago loss, with book value rising to $7.22 per share.
Key Events · Earnings and Guidance · ORC
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Q2 Net Income of $89.2M
Net income reached $89.2 million, or $0.44 per share, compared with a net loss of $33.6 million in Q2 2025. Driving the improvement, net interest income rose to $60.0 million, and the company recorded $36.0 million in net realized and unrealized gains on RMBS and derivatives.
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Book Value Increases to $7.22
Book value per share advanced $0.14 during the quarter to $7.22 at June 30, 2026, reflecting net income of $0.44 per share less the $0.30 dividend.
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Total Return of 6.21%
For Q2 2026, the company generated a 6.21% total return, calculated as the $0.30 dividend plus the $0.14 increase in book value per share, divided by beginning book value.
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Portfolio and Leverage Metrics
The average RMBS portfolio grew by approximately $0.45 billion to $11.4 billion. At quarter-end, the net interest spread stood just under 2%, and the economic leverage ratio was 7.3:1.
Analysis · ORC · Real Estate & Construction
A sharp turnaround delivered net income of $89.2 million, or $0.44 per share, reversing a year-ago loss of $33.6 million. The swing was fueled by a wider net interest spread and $36 million in realized and unrealized gains on RMBS and derivatives. Book value per share climbed to $7.22, and the quarter produced a 6.21% total return. With the stock trading near its 52-week low, the results may highlight a disconnect between improving fundamentals and market sentiment. Capital management remained active: 18.6 million shares were sold through the ATM program and 1.1 million shares were repurchased during the first half of 2026.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ORC was trading at $6.66 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $6.42 to $8.40. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.