secwatch.observer — SEC 8-K summary
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Issuer:     Orchid Island Capital, Inc. (ORC)
CIK:        0001518621
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001437749-23-029124
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orchid Island Capital Q3 net loss $80.1M ($1.68/share); book value down $2.24 to $8.92
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- Net loss of $80.1M, or $1.68 per share, driven by $66.9M in realized/unrealized losses on RMBS and derivatives.
- Book value per share fell 20% to $8.92 from $11.16 at June 30, 2023.
- Net interest spread improved to -0.93% from -1.07% in Q2, but portfolio yield (4.51%) still below funding cost (5.49%).
- Adjusted leverage ratio 9.5x; liquidity $163.7M; ATM program raised $129.8M gross YTD through Sep 30.
- Management reduced lower-coupon RMBS and increased hedges post-quarter to preserve liquidity amid market volatility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1518621/000143774923029124/0001437749-23-029124-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1518621/000143774923029124/orc20230903_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-029124

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer