Why Shares of Orchid Island Capital Fell Today
Shares of the specialty finance company Orchid Island Capital (NYSE: ORC) dropped 11.4% today after the company announced first-quarter earnings guidance and an analyst downgraded the stock.
Orchid Island, which invests in agency residential mortgage-backed securities (RMBS), recently said that it expects to report a net loss of $0.34 per share in the first quarter.
That includes an estimated $0.60 per share of net realized and unrealized losses on RMBS and derivative instruments.
Source Fool.com
