Bimini Capital ( (BMNM) ) has released its Q4 earnings. Here is a breakdown of the information Bimini Capital presented to its investors.
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Bimini Capital Management, Inc. is a financial company that primarily invests in residential mortgage-related securities and provides management services to Orchid Island Capital, Inc., operating within the real estate investment trust (REIT) sector.
In its fourth quarter of 2024, Bimini Capital reported a net loss of $1.5 million, equating to a loss of $0.15 per common share. The company also noted an increase in advisory service revenues due to Orchid Island Capital’s performance, despite the challenging economic conditions.
Key financial metrics for the quarter included a book value per share of $0.68 and a net income before taxes of $0.6 million, compared to a net loss before taxes in the previous quarter. The company’s investment portfolio saw a net interest income of $0.3 million, while advisory service revenues increased slightly to $3.4 million. The MBS portfolio grew by $4.0 million during the quarter, contributing to positive cash flows.
Despite the net loss, Bimini Capital’s management remains cautiously optimistic about future market conditions, acknowledging the resilience of economic activity and the potential for favorable conditions for its investment portfolios in the coming quarters.