Bimini Capital ( (BMNM) ) has released its Q3 earnings. Here is a breakdown of the information Bimini Capital presented to its investors.
Bimini Capital Management, Inc. operates in the financial sector, focusing on investing in residential mortgage-related securities and managing the MBS portfolio for Orchid Island Capital, Inc., offering both investment and advisory services.
In the third quarter of 2024, Bimini Capital Management reported a net income of $0.3 million, equating to $0.03 per share, with a book value per share of $0.83. The company’s performance highlighted the benefits of recent Federal Reserve monetary policies, which have influenced inflation and employment rates.
Key financial metrics for the quarter included an increase in advisory service revenues to $3.3 million, an improvement in net interest income to $0.3 million, and net gains of $0.4 million from mark-to-market activities. Bimini’s investment strategy in mortgage-backed securities resulted in a 6.2% return on invested capital, while the advisory services segment benefited from a 4% revenue increase due to Orchid Island Capital’s strong performance.
Looking ahead, Bimini Capital remains focused on adapting to potential changes in the Federal Reserve’s rate policies, which could impact economic conditions and capital raising opportunities. The management team is committed to maintaining its investment strategies to optimize returns and shareholder value.