earnings
confidence high
sentiment negative
materiality 0.75
Bimini Capital Q2 net loss $1.2M ($0.11/sh); book value $2.66; MBS portfolio return -19.2%
BIMINI CAPITAL MANAGEMENT, INC.
- Net loss of $1.2M, or $0.11 per Class A share; advisory service revenue $3.3M.
- Book value per share fell to $2.66 from $3.08 at Dec 31, 2021.
- Combined MBS portfolio return on invested capital was -19.2% for Q2; PT MBS return -35.0%.
- Agency MBS market conditions cited as detrimental; Royal Palm portfolio reduced by $16.1M.
- Orchid Island Capital common stock fair value adjustment loss of $1.0M; dividends $0.4M.