Orchid Island Capital (NYSE:ORC) Posts Quarterly Earnings Results, Meets Estimates

Orchid Island Capital (NYSE:ORC) issued its earnings results on Thursday. The real estate investment trust reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26, FiscalAI reports. The firm had revenue of ($12.56) million during the quarter, compared to analyst estimates of $33.03 million.

Orchid Island Capital Stock Up 3.1%

NYSE ORC traded up $0.22 on Friday, hitting $7.06. 4,687,886 shares of the company were exchanged, compared to its average volume of 7,027,956. The company has a market cap of $1.42 billion, a PE ratio of 6.78 and a beta of 1.63. Orchid Island Capital has a 12 month low of $6.62 and a 12 month high of $8.40. The stock has a fifty day moving average of $7.23 and a 200-day moving average of $7.38. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.09.

Orchid Island Capital Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, April 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a yield of 17.0%. Orchid Island Capital’s dividend payout ratio is currently 138.46%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ORC. Weiss Ratings cut shares of Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Wall Street Zen cut shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Sunday, April 19th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Orchid Island Capital has an average rating of “Reduce” and an average target price of $7.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC acquired a new position in Orchid Island Capital during the fourth quarter worth $115,000. Compound Planning Inc. purchased a new stake in Orchid Island Capital during the fourth quarter worth about $103,000. Mercer Global Advisors Inc. ADV purchased a new stake in Orchid Island Capital during the fourth quarter worth about $102,000. Vident Advisory LLC purchased a new stake in Orchid Island Capital during the fourth quarter worth about $231,000. Finally, XTX Topco Ltd purchased a new stake in Orchid Island Capital during the fourth quarter worth about $181,000. Institutional investors and hedge funds own 32.74% of the company’s stock.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage?backed securities (RMBS), with a primary focus on mortgage pass?through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.