Orchid Island Capital, Inc. (ORC): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde complexe d'Orchid Island Capital, Inc. (ORC), une fiducie fascinante de placement immobilier (REI) qui navigue stratégiquement dans le paysage complexe des titres adossés à des créances hypothécaires résidentielles. Avec un accent accéléré de rasoir sur la génération Haute rendements de dividendes Et offrant un revenu passif cohérent, Orc a taillé un créneau unique sur les marchés financiers, offrant aux investisseurs une approche sophistiquée de l'investissement hypothécaire qui équilibre la gestion professionnelle, les stratégies transparentes et le potentiel de rendements attractifs. Démêler les couches de leur modèle commercial innovant et découvrir comment ce véhicule d'investissement spécialisé transforme les titres hypothécaires en une opportunité impérieuse pour les investisseurs axés sur le revenu.

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: partenariats clés

Institutions financières et prêteurs hypothécaires

Orchid Island Capital maintient des partenariats stratégiques avec des institutions financières spécifiques:

Type de partenaire	Nombre de partenariats	Volume de transaction annuel
Banques commerciales	7	2,3 milliards de dollars
Prêteurs hypothécaires	12	1,8 milliard de dollars

Banques d'investissement et intermédiaires du marché des capitaux

Les partenariats clés du marché des capitaux comprennent:

• Goldman Sachs
• Morgan Stanley
• JPMorgan Chase

Partenaire	Type de transaction	Valeur annuelle
Goldman Sachs	Trading de titres adossés à des créances hypothécaires	675 millions de dollars
Morgan Stanley	Avis sur le marché des capitaux	425 millions de dollars

Réseaux de fiducie de placement immobilier (REIT)

Détails des partenariats REIT Network:

Réseau REIT	Focus de la collaboration	Investissement annuel
Alliance REIT résidentielle	Stratégies d'investissement hypothécaire	1,2 milliard de dollars
Consortium REIT commercial	Diversification du portefeuille	850 millions de dollars

Sociétés de conformité réglementaire et juridique

Détails du partenariat de conformité:

Cabinet de justice	Type de service	Valeur du contrat annuel
Skadden, arps, ardoise, meagher & Flom LLP	Conseil de conformité réglementaire	3,5 millions de dollars
Wilmerhale	Consultation en droit des valeurs mobilières	2,7 millions de dollars

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: activités clés

Investissement en valeurs mobilières adossé à des hypothèques

Orchid Island Capital se concentre sur l'investissement dans les titres adossés à des hypothèques résidentielles d'agence (RMBS). Au troisième rang 2023, le portefeuille d'investissement de la société comprenait:

Type de sécurité	Valeur totale	Pourcentage de portefeuille
RMBS d'agence à taux fixe	1,68 milliard de dollars	92.3%
RMBS d'agence à taux réglable	140 millions de dollars	7.7%

Gestion des risques de taux d'intérêt

L'entreprise utilise des stratégies de gestion des risques sophistiquées:

• Ratio de couverture: 68,5% du portefeuille a couvert contre les fluctuations des taux d'intérêt
• Instruments dérivés utilisés: échanges de taux d'intérêt, avenir du trésor
• Écart de taux d'intérêt net: 1,45% en décembre 2023

Optimisation et rééquilibrage du portefeuille

Métriques d'optimisation du portefeuille clés:

Métrique	Valeur
Rendement moyen du portefeuille	6.25%
Taux de rotation du portefeuille	42%
Coupon moyen pondéré	4.85%

Analyse financière et développement de stratégie d'investissement

STRATÉGIE D'INVESTISSEMENT DES DIFFICATIONS:

• Analyse des risques de prépaiement
• Évaluation de la qualité du crédit
• Évaluation des tendances macroéconomiques

Distribution des dividendes aux actionnaires

Détails de la distribution des dividendes:

Métrique	Valeur
Rendement annuel sur le dividende	14.2%
Dividende trimestriel par action	$0.14
Total des dividendes annuels payés	54,3 millions de dollars

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: Ressources clés

Portefeuille substantiel de titres adossés à des créances hypothécaires résidentiels

Au quatrième trimestre 2023, Orchid Island Capital a maintenu un portefeuille évalué à 1,58 milliard de dollars en titres adossés à des créances hypothécaires (RMB). La composition du portefeuille comprend:

Type de sécurité	Valeur totale	Pourcentage
RMBS d'agence à taux fixe	1,32 milliard de dollars	83.5%
RMBS d'agence à taux réglable	260 millions de dollars	16.5%

Équipe de gestion financière expérimentée

L'équipe de direction comprend:

• 3 cadres supérieurs avec plus de 15 ans d'expérience d'investissement hypothécaire
• Pureure moyenne de l'industrie de 12,4 ans par cadre supérieur
• Expérience de gestion cumulative du portefeuille supérieur à 45 ans

Outils avancés de modélisation financière et d'évaluation des risques

L'infrastructure technologique comprend:

• Systèmes de gestion des risques: Plate-forme d'évaluation des risques propriétaires sur mesure
• Intégration des données du marché en temps réel avec une disponibilité de 99,97%
• Analyse prédictive avancée avec capacités d'apprentissage automatique

Évaluation du crédit et réputation du marché

Métriques de crédit et de marché du marché:

Agence de notation	Note actuelle	Perspectives
S&P Global	Bbb-	Écurie
Moody's	Baa3	Écurie

Accès aux marchés des capitaux et aux canaux de financement

Capacités de financement à partir de 2024:

• Compétions à crédit total: 475 millions de dollars
• Rachat des lignes d'accord avec 7 grandes institutions financières
• Coût moyen pondéré de l'emprunt: 4,65%

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: propositions de valeur

Rendement élevé des dividendes pour les investisseurs axés sur le revenu

Au quatrième trimestre 2023, Orchid Island Capital a rapporté un rendement en dividendes de 17,32%, significativement plus élevé que le rendement moyen du dividende du RPE. Le dividende trimestriel de la société était de 0,14 $ par action, payé mensuellement aux actionnaires.

Métrique	Valeur
Rendement des dividendes	17.32%
Dividende trimestriel	0,14 $ par action
Fréquence des dividendes	Mensuel

Stratégie d'investissement spécialisée en hypothèques REIT

Orchid Island Capital se concentre exclusivement sur Titres adossés à des créances hypothécaires (RMBS). Composition du portefeuille d'investissement au 31 décembre 2023:

• Titres adossés à des hypothèques résidentielles de l'agence: 98,6%
• Titres adossés à des créances hypothécaires non agences: 1,4%
• Valeur du portefeuille d'investissement total: 1,87 milliard de dollars

Gestion professionnelle des titres hypothécaires complexes

L'équipe de gestion des investissements de l'entreprise démontre l'expertise:

Métrique de gestion	Valeur
Rendement moyen du portefeuille	3.85%
Revenu net d'intérêt	54,3 millions de dollars (2023)
Coût des fonds	2.45%

Potentiel de génération de revenus passive cohérente

Les mesures de performance financière soutiennent le revenu cohérent:

• Revenu total pour 2023: 132,6 millions de dollars
• Revenu net: 41,2 millions de dollars
• Retour des capitaux propres: 8,7%

Approche d'investissement transparent sur le marché des hypothèques résidentielles

Transparence démontrée:

Métrique de transparence	Valeur
Rapports financiers trimestriels	Déposé constamment
Fréquence de communication des investisseurs	Appels de résultats trimestriels
Note de conformité SEC	100% conforme

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: relations avec les clients

Rapports financiers réguliers et communications des investisseurs

Orchid Island Capital, Inc. a déposé un rapport annuel de 10 K le 28 février 2023, avec un portefeuille d'investissement total de 1,2 milliard de dollars. Des rapports financiers trimestriels ont révélé un revenu d'intérêts nets de 20,7 millions de dollars pour le quatrième trimestre 2023.

Métrique de rapport	2023 données
Portefeuille d'investissement total	1,2 milliard de dollars
Revenu des intérêts nets (Q4)	20,7 millions de dollars
Rendement des dividendes	15.32%

Appels de bénéfices trimestriels et présentations des investisseurs

L'ORC a effectué 4 appels de bénéfices en 2023, avec une participation moyenne de 47 investisseurs institutionnels. Le matériel de présentation total couvrait 38 diapositives financières détaillées.

• Q1 2023 RÉMORD
• T2 2023 Appel de gains: 17 mai 2023
• Q3 2023 APPORT DE GAINS: 16 août 2023
• Q4 2023 Générément appel: 15 novembre 2023

Engagement des actionnaires grâce aux réunions annuelles

2023 Assemblée des actionnaires annuelle tenue le 17 mai 2023, avec 68,3% des actions en circulation représentées.

Plateformes de relations avec les investisseurs numériques

Plate-forme numérique	Métriques d'engagement
Site Web des investisseurs	127 456 visiteurs uniques en 2023
Webdiffusion des investisseurs	3 214 participants au total

Suivi des performances transparentes

Orc maintenu Tableau de bord de performance en temps réel avec des mesures clés suivantes en 2023:

• Retour des capitaux propres: 11,2%
• Valeur comptable par action: 10,43 $
• Marge d'intérêt net: 1,85%

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: canaux

Listing de bourse (NYSE)

Symbole de ticker: Orc

Échange	Date d'inscription	Capitalisation boursière
Bourse de New York	2010	245,6 millions de dollars (à partir de janvier 2024)

Plateformes d'investissement en ligne

• Courtiers interactifs
• Améritrade TD
• Charles Schwab
• Investissements de fidélité

Services de conseil financier

Fournisseur de services	Couverture ORC
Raymond James	Couverture complète de la recherche
Btig	Rapports de recherche d'analystes

Site Web de relations avec les investisseurs

URL du site Web: www.orchidislandcapital.com

• Rapports financiers trimestriels
• Accès au dépôt de la SEC
• Téléchargements de présentation des investisseurs

Brokerage Companies et réseaux d'investissement

Cabinet de courtage	Disponibilité commerciale
E * Commerce	Accès au trading complet
Robin	Trading sans commission
Webull	Trading en temps réel

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: segments de clients

Investisseurs de détail axés sur le revenu

Segment ciblé avec un investissement annuel moyen de 58 723 $ en FPI hypothécaires. Démographique profile Comprend:

• Tranche d'âge: 45 à 65 ans
• Revenu annuel moyen: 124 500 $
• Attribution du portefeuille d'investissement: 12-18% en titres adossés à des hypothèques

Catégorie d'investisseurs	Investissement moyen	Attente de rendement
Investisseurs de détail	$58,723	8.2% - 10.5%

Entreprises d'investissement institutionnelles

Segment institutionnel représentant une allocation de portefeuille importante:

• Total des avoirs institutionnels: 62,4% des actions ORC
• Investissement institutionnel moyen: 3,2 millions de dollars
• Volume de trading trimestriel: 1,4 million d'actions

Type institutionnel	Taille de l'investissement	Pourcentage de propriété
Sociétés de gestion des actifs	3,2 millions de dollars	42.6%
Fonds de pension	2,7 millions de dollars	19.8%

Investisseurs individuels à haute nette

Caractéristiques sophistiquées du segment des investisseurs:

• Seuil d'investissement minimum: 250 000 $
• Attribution moyenne du portefeuille: 15-22% dans les FPI hypothécaires
• Investissement annuel typique: 475 000 $

Gestionnaires du portefeuille de retraite

Segment spécialisé de la gestion des investissements:

• Investissements totaux de fonds de retraite: 127,3 millions de dollars
• Attribution moyenne à ORC: 6,7%
• Fréquence d'investissement: rééquilibrage trimestriel

Spécialistes des investissements à revenu fixe

Détails du segment d'investissement professionnel:

• Actifs gérés totaux: 2,4 milliards de dollars
• Pourcentage d'allocation ORC: 3,2%
• Investissement annuel moyen: 1,6 million de dollars

Type spécialisé	Actifs gérés totaux	Allocation ORC
Spécialistes à revenu fixe	2,4 milliards de dollars	3.2%

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: Structure des coûts

Dépenses d'intérêt sur le capital emprunté

Au quatrième trimestre 2023, Orchid Island Capital a déclaré des frais d'intérêt totaux de 34,2 millions de dollars, avec une ventilation comme suit:

Catégorie de dépenses	Montant ($)
Rachat l'intérêt de l'accord	29,750,000
Intérêt d'emprunt garanti	4,450,000

Gestion et frais généraux opérationnels

Les coûts d'exploitation annuels pour 2023 comprenaient:

• Compensation de gestion: 6,3 millions de dollars
• Salaires des employés: 2,1 millions de dollars
• Frais administratifs: 1,8 million de dollars

Coûts de négociation et de transaction en valeurs mobilières

Dépenses liées aux transactions pour 2023:

Type de coût	Montant ($)
Frais de courtage	1,250,000
Frais de compensation	750,000

Compliance et dépenses réglementaires

Coûts de conformité réglementaire pour 2023:

• Frais juridiques et d'audit: 1,5 million de dollars
• Dépenses de dépôt réglementaire: 350 000 $
• Logiciel et systèmes de conformité: 450 000 $

Infrastructure technologique et de recherche

Répartition des investissements technologiques pour 2023:

Catégorie de technologie	Montant ($)
Infrastructure informatique	1,100,000
Outils et plateformes de recherche	750,000
Systèmes de cybersécurité	600,000

Orchid Island Capital, Inc. (ORC) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts provenant de titres adossés à des créances hypothécaires

Pour l'exercice 2023, Orchid Island Capital a déclaré un revenu total d'intérêts de 54,3 millions de dollars provenant de titres adossés à des créances hypothécaires (MBS).

Source de revenu	Montant ($)
Intérêt MBS à taux fixe de l'agence	42,1 millions
Intérêt MBS à taux réglable de l'agence	12,2 millions

Réalisé des gains de la négociation des valeurs mobilières

Le total des gains réalisés des transactions en valeurs mobilières en 2023 était de 7,6 millions de dollars.

• Gains réalisés des ventes de MBS de l'agence: 5,4 millions de dollars
• Gains réalisés des transactions d'échange de taux d'intérêt: 2,2 millions de dollars

Distributions de dividendes

La distribution annuelle des dividendes pour 2023 était de 1,20 $ par action, totalisant environ 36,5 millions de dollars de rendements des actionnaires.

Marge d'intérêt net

La marge d'intérêt nette de la société pour 2023 était 1.85%, calculé sur un portefeuille d'environ 2,1 milliards de dollars de titres adossés à des créances hypothécaires en agence.

Appréciation du capital du portefeuille d'investissement

Les gains totaux non réalisés dans le portefeuille d'investissement pour 2023 étaient de 18,2 millions de dollars, reflétant les changements de valeur marchande des titres adossés à des créances hypothécaires d'agence.

Segment de portefeuille	Gains non réalisés ($)
MBS à taux fixe	14,6 millions
MBS à taux réglable	3,6 millions

Orchid Island Capital, Inc. (ORC) - Canvas Business Model: Value Propositions

You're looking at the core value Orchid Island Capital, Inc. (ORC) delivers to its investors as of late 2025. It boils down to high, predictable income coupled with a focus on protecting the principal you put in. This isn't about chasing speculative growth; it's about consistent cash flow from high-quality, government-backed assets.

The first pillar is the High Monthly Income. Orchid Island Capital targets a consistent monthly cash dividend of $0.12 per share. For the third quarter of 2025, this translated to total dividends declared and paid of $0.36 per common share. Honestly, that regular payout is a primary draw for many shareholders.

Next, you see the Total Return Potential. The market conditions in Q3 2025 were certainly supportive, allowing the company to deliver a strong 6.7% total return for that quarter. Here's the quick math: that return was comprised of the $0.36 dividend per common share plus a $0.12 increase in book value per share, all relative to the beginning book value for the period. What this estimate hides is the quarter-to-quarter volatility, but the rebound in Q3 2025 was significant, reversing the prior quarter's drawdown.

For Credit Risk Mitigation, the strategy is simple: Orchid Island Capital invests solely in highly liquid, government-backed Agency RMBS (Residential Mortgage-Backed Securities). Management has repeatedly emphasized this focus, which is key to their risk profile. They are not taking on credit risk from private-label securities.

• Investment is in Agency RMBS issued by Fannie Mae, Freddie Mac, or Ginnie Mae.
• The portfolio includes traditional pass-through Agency RMBS.
• They also hold structured Agency RMBS like collateralized mortgage obligations (CMOs).
• As of October 31, 2025, the portfolio was detailed for intra-quarter review.

The final proposition is Capital Preservation. This is tied directly to maintaining the book value. As of September 30, 2025, the book value per share stood at $7.33 per share. This focus on preserving capital, supported by disciplined hedging and investment in call-protected specified pools, is central to their approach.

To give you a clearer picture of the Q3 2025 performance that underpinned these value propositions, look at these figures:

Metric	Amount/Value
Net Income (Q3 2025)	$72.1 million
Net Income Per Share (Q3 2025)	$0.53
Net Interest Income (Q3 2025)	$26.9 million
Net Realized/Unrealized Gains (Q3 2025)	$50.6 million
Yield on Average Agency RMBS (Q3 2025)	5.65%
Repurchase Agreement Borrowing Costs (Q3 2025)	4.45%
Adjusted Leverage Ratio (Q3 2025)	7.4 to 1

The yield on the average Agency RMBS portfolio increased to 5.65% in Q3 2025 from 5.38% in Q2 2025, while borrowing costs rose slightly to 4.45%. The company maintained a strong liquidity position of $620.0 million, which was approximately 57% of stockholders' equity at the end of the quarter. They still see room to raise leverage further if returns become even more attractive, but for now, the posture is stable.

Also, consider the components of the return. The net interest income of $0.20 per common share combined with net realized and unrealized gains of $0.37 per common share drove the strong net income of $0.53 per share, which easily covered the $0.36 dividend paid that quarter. That excess, the $0.12 per share, is what accreted to the book value, supporting the capital preservation goal.

Finance: draft 13-week cash view by Friday.

Orchid Island Capital, Inc. (ORC) - Canvas Business Model: Customer Relationships

You're managing your capital, looking for consistent income from your investment in Orchid Island Capital, Inc. (ORC). The relationship here is fundamentally about the delivery of cash flow derived from their specialty finance operations in Agency Residential Mortgage-Backed Securities (RMBS).

Monthly Payouts: Delivering predictable monthly cash distributions to shareholders

Orchid Island Capital, Inc. operates with the intent to make regular monthly cash distributions to its holders of common stock, a structure necessary to maintain its Real Estate Investment Trust (REIT) status by distributing at least 90% of its taxable income annually. For instance, the declared monthly dividend for August 2025 was $0.12 per share, payable on September 29, 2025. This pattern continued, with the November 2025 dividend also declared at $0.12 per share, scheduled for payment on December 30, 2025. To be fair, this predictability is the core of the appeal for many investors seeking income.

Here's a quick look at the recent distribution consistency:

• March 2025 Monthly Dividend: $0.12 per share.
• August 2025 Monthly Dividend: $0.12 per share.
• September 2025 Monthly Dividend: $0.12 per share.
• Total Q3 2025 Dividends Paid: $0.36 per common share.

The capital base supporting these payouts has been growing, though this also means potential dilution for existing holders. As of June 30, 2025, Orchid Island Capital, Inc. had 126,566,926 shares outstanding. By September 8, 2025, that number grew to 146,130,135 shares, representing an increase of approximately 15.5% from June. This capital raising, including issuing approximately $420.2 million gross proceeds under a February 2025 ATM, later upsized to $500 million, shows active capital management.

Investor Transparency: Regular earnings calls and detailed supplemental materials

You get regular updates on the performance driving those distributions. Orchid Island Capital, Inc. communicates results through formal filings and investor presentations. For example, the Third Quarter 2025 Results were announced on October 23, 2025, followed by the Earnings Conference Call on Friday, October 24, 2025, at 10:00 AM ET. These calls and accompanying supplemental materials cover key metrics you need to assess risk and return potential.

The supplemental information provided details on:

• Portfolio composition as of a specific date, such as the RMBS Portfolio Characteristics as of October 31, 2025.
• Book value per common share, which stood at $7.33 at September 30, 2025.
• Net income for the three months ended September 30, 2025, which was $72.1 million, or $0.53 per common share.
• Liquidity position, reported at $620.0 million in cash and cash equivalents and unpledged securities as of September 30, 2025.

The company defintely uses these materials to discuss forward-looking statements regarding interest rates, hedging, and anticipated returns on investments.

Standardized Service: Relationship is transactional through the public stock market

Ultimately, your relationship with Orchid Island Capital, Inc. is standardized because you are interacting through the public stock market, NYSE: ORC. This means the interaction is primarily transactional-buying, holding for the dividend, or selling-rather than a direct, personalized service relationship. The ownership structure reflects this broad, public engagement. As of mid-2025 data, the general public, which includes retail investors like yourself, collectively holds a 57% stake in the company. Institutional investors account for 31% of the ownership.

This structure means your investment is priced on the exchange, with the share price as of December 4, 2025, recorded at $7.31 / share. This contrasts with the price a year prior on December 5, 2024, which was $7.81 / share.

Here is a snapshot of the shareholder base:

Shareholder Type	Approximate Ownership (%)	Key Characteristic
General Public (Individual Investors)	57%	Largest ownership group, influencing dividend policy.
Institutional Investors	31%	Includes major holders like BlackRock, Inc. and Vanguard Group Inc.
Insiders	Under 1%	Low direct ownership by board members.

Orchid Island Capital, Inc. (ORC) - Canvas Business Model: Channels

You're looking at how Orchid Island Capital, Inc. (ORC) gets its information and stock out to the world. It's all about public access and regulatory compliance, which is key for a mortgage REIT.

Stock Exchange

Orchid Island Capital, Inc. trades publicly on the New York Stock Exchange (NYSE: ORC). This is the primary venue for liquidity and price discovery. As of December 4, 2025, the stock price was $7.31. That price sits within the forecasted 2025 trading channel, which analysts pegged between $6.81 and $7.37. The stock has seen a 52-week range, hitting a high of $9.01 and a low of $5.69. Trading activity on December 4, 2025, involved approximately 5 million shares changing hands, representing about $36.49 million in value for that day.

The exchange listing is supported by the following market metrics as of late 2025:

Metric	Value	Date/Period
Last Traded Price (Dec 4, 2025)	$7.31	End of Day, Dec 4, 2025
52-Week High Price	$9.01	2025
52-Week Low Price	$5.69	2025
Daily Trading Volume (Dec 4, 2025)	5 million shares	Dec 4, 2025
Analyst Forecasted 2025 Max Price	$7.37	2025

Investor Relations Website

The Investor Relations section on the Orchid Island Capital, Inc. website is where you find the deep dive, especially the required regulatory filings. This channel is crucial for due diligence. For instance, the results for the third quarter ended September 30, 2025, were announced on October 23, 2025, via a Form 8-K filing. That report detailed a book value per common share of $7.33 as of September 30, 2025. Net income for that quarter was $72.1 million, translating to $0.53 per common share.

The website serves as the repository for official disclosures, including:

• SEC Filings, such as the Form 8-K from November 12, 2025, announcing the November dividend.
• Quarterly reports like the Form 10-Q filed around October 24, 2025.
• Press releases, such as the one on October 23, 2025, detailing Q3 2025 results.
• Insider trading reports, like Form 4 filings from December 1, 2025.

Financial Media

Earnings reports and dividend announcements get broad distribution through financial media outlets, which helps disseminate key financial data quickly to a wider audience. Orchid Island Capital, Inc. pays its dividends monthly, which is a significant point for income-focused investors. The November 2025 monthly common stock dividend was declared at $0.12 per share, with an ex-dividend date of November 28, 2025, and a payment date set for December 30, 2025. This consistent payout results in an annual dividend of $1.44 per share, translating to a trailing dividend yield (TTM) of 19.70% as of late 2025.

Here's a snapshot of the key distribution metrics:

The frequency and yield are central to how the market views the company's distribution policy:

• Payout Frequency: Monthly.
• Annual Dividend Amount: $1.44 per share.
• Trailing Twelve Month (TTM) Dividend Yield: 19.70%.
• Latest Declared Monthly Dividend: $0.120 per share.
• Payout Ratio: 250.97% (based on annual dividend data).

Orchid Island Capital, Inc. (ORC) - Canvas Business Model: Customer Segments

You're looking at the core groups Orchid Island Capital, Inc. (ORC) serves, which are primarily capital providers attracted by its mortgage real estate investment trust (mREIT) structure and focus on Agency Residential Mortgage-Backed Securities (RMBS).

Income-Focused Investors: Individuals and institutions seeking high, regular dividends

This segment is drawn by the promise of consistent, high-yield cash distributions, a requirement for maintaining its Real Estate Investment Trust (REIT) status, which mandates distributing at least 90% of taxable income annually. The actual distribution history confirms this focus.

• Monthly dividend declared for August 2025 was $0.12 per share.
• Monthly dividend declared for September 2025 was $0.12 per share.
• The annual dividend is stated as $1.44 per share.
• The corresponding dividend yield was noted at 19.70%.
• Total dividends declared and paid in the third quarter of 2025 amounted to $0.36 per common share.

This regular payout structure is central to attracting investors prioritizing current income over pure capital appreciation. It's defintely a key part of the value proposition for this group.

Retail and Institutional Shareholders: Holders of the common stock

This group represents the direct equity owners of Orchid Island Capital, Inc. The size and composition of this base are important indicators of market confidence and capital structure. As of the third quarter of 2025, the number of shares outstanding was a key metric for this segment.

The total number of common shares outstanding as of September 30, 2025, was 148,239,401. This aligns with the reported figure of approximately 148.2 million shares outstanding. Furthermore, the ownership mix shows a significant presence from professional capital allocators.

Shareholder Type	Ownership Characteristic	Data Point (Late 2025)
Institutional Investors	Percentage of shares owned	About 32.0%
Common Stock	Shares Outstanding (as of September 30, 2025)	148,239,401 shares
Book Value Per Share	Value as of September 30, 2025	$7.33

The company also reported a strong liquidity position of $620.0 million in cash and cash equivalents and unpledged securities as of September 30, 2025, which supports shareholder confidence.

Financial Analysts: Professionals who track and value mREIT performance

This segment consumes detailed financial reporting to generate research, ratings, and price targets, influencing broader market perception. Orchid Island Capital, Inc. actively engages this group through scheduled disclosures.

• The company provides supplemental materials and press releases following quarterly results.
• The Third Quarter 2025 Earnings Conference Call took place on October 24, 2025.
• The company is externally managed and advised by Bimini Advisors, LLC, which is registered with the Securities and Exchange Commission.

Analysts use data points like the Q3 2025 net income of $72.1 million, or $0.53 per common share, to model future performance. Finance: draft 13-week cash view by Friday.

Orchid Island Capital, Inc. (ORC) - Canvas Business Model: Cost Structure

The Cost Structure for Orchid Island Capital, Inc. is heavily weighted toward financing costs, which is typical for a mortgage REIT that uses leverage to enhance returns on its Agency residential mortgage-backed securities (RMBS) portfolio. The primary focus is on managing the cost of funds relative to the yield earned on assets.

Interest Expense is the single largest component of the cost base, driven by the repurchase agreement (repo) borrowings used to finance the asset portfolio. For the third quarter of 2025, this primary cost totaled $81.5 million. This figure reflects the cost associated with the outstanding repurchase obligations, which stood at approximately $8.0 billion as of September 30, 2025, carrying a net weighted average borrowing rate of 4.33%.

Total non-interest expenses, which cover the day-to-day running of the REIT and its management, were reported at $5.4 million for Q3 2025, or $0.04 per common share. This figure encapsulates the management fees paid to Bimini Advisors, LLC, and the general operating costs.

The key cost elements are detailed below, showing the scale of financing costs versus operational overhead.

Cost Component	Q3 2025 Amount (USD Millions)	Context/Rate
Interest Expense (Repo Borrowings)	$81.5 million	Primary cost; repo rate was 4.33% at period end.
Total Non-Interest Expenses	$5.4 million	Includes management fees and operating costs.
Management Fees (Example)	$3.0 million	Management fee component for Q2 2025; included in Q3 total.
Repurchase Obligation Balance	~$8.0 billion	Balance collateralized by RMBS assets.

Hedging costs are a critical, though sometimes less transparent, part of the cost structure. Orchid Island Capital utilizes derivative instruments, such as interest rate swaps, to manage funding cost risk. While the company reported net realized and unrealized gains of $50.6 million on RMBS and derivative instruments in Q3 2025, the specific premium and net interest paid solely for hedging is embedded within these figures or operating expenses. The company noted that its total hedge notional stood at $5.6 billion, covering approximately 70% of repo funding liabilities as of September 30, 2025.

Operating Expenses represent the general and administrative costs of running the REIT, separate from the interest paid on borrowings and the fees paid to the external manager. These costs are aggregated within the total non-interest expenses. You should look at the following breakdown of expense categories for context:

• Salaries and Employee Benefits: Reported as $0.50 million in one reported quarter.
• Other Operating Expenses: Reported figures varied, such as $3.99 million in one quarter.
• Management Fees: Paid to Bimini Advisors, LLC, for managing the portfolio and operations.

The management agreement dictates that Bimini Advisors receives monthly management fees based on tiers of Orchid Island Capital's equity, plus expense reimbursements. For instance, in Q2 2025, Bimini Advisors received $3.0 million in management fees, along with $0.6 million in overhead reimbursement and $0.2 million in other fees, totaling $3.8 million in advisory service revenue for that quarter.

Orchid Island Capital, Inc. (ORC) - Canvas Business Model: Revenue Streams

You're looking at how Orchid Island Capital, Inc. (ORC) actually makes money from its portfolio of Agency RMBS (Residential Mortgage-Backed Securities). The core of the income generation is the spread between what they earn on assets and what they pay on borrowings, which is the Net Interest Income (NII). For the third quarter of 2025, the NII was reported at $26.9 million.

Here's a quick look at the main components that made up the top-line performance for the three months ended September 30, 2025:

Revenue Component	Q3 2025 Amount (Millions USD)
Net Interest Income (NII)	$26.9
Net Realized & Unrealized Gains (RMBS/Derivatives)	$50.6
Total Interest Income on Portfolio	$108.4
Total Expenses	$5.4

The gains component is critical for a mortgage REIT, reflecting changes in the market value of the assets and hedges. Orchid Island Capital recorded net realized and unrealized gains on Agency RMBS and derivative instruments totaling $50.6 million for Q3 2025. This strong performance on the asset side, combined with the core NII, drove the overall financial results. The total interest earned on the RMBS portfolio reached $108.4 million in the third quarter. The total return for the quarter was 6.7%, which is comprised of the dividend and book value accretion.

When you map this out, you see the profitability drivers clearly:

• Net Income for Q3 2025 was $72.1 million.
• Book Value per Common Share ended at $7.33 as of September 30, 2025.
• Dividends declared and paid for the quarter were $0.36 per common share.
• The yield on average Agency RMBS increased to 5.65% for Q3 2025.

The yield on average Agency RMBS increased from 5.38% in Q2 2025, while borrowing costs rose to 4.45% from 4.23% the prior quarter. Finance: draft 13-week cash view by Friday.