Orchid Island Capital's third quarter 2026 book value fell 16.6% to $6.02 amid portfolio losses

Orchid Island Capital announced preliminary estimated results for the third quarter of 2026, reporting a GAAP net loss driven by significant valuation declines in its Agency RMBS portfolio. The company maintained its monthly dividend despite a negative double-digit return on equity for the period.

Key Highlights

• Estimated book value per share decreased to $6.02 as of September 30, 2026, down from $7.22 at the end of the second quarter.
• The company reported an estimated GAAP net loss of $0.90 per share, which included $1.17 per share in net realized and unrealized losses on RMBS and derivative instruments.
• Total return on equity for the third quarter was negative 12.5%, based on the change in book value and dividends declared.
• Total stockholders' equity was approximately $1.2 billion at quarter-end, with 194.7 million shares outstanding.
• The RMBS portfolio fair value was estimated at $10.77 billion, comprised primarily of pass-through RMBS ($10.75 billion).