Orchid Island Capital (NYSE:ORC) Sees Strong Trading Volume on Better-Than-Expected Earnings

Orchid Island Capital, Inc. (NYSE:ORC) shares saw unusually-high trading volume on Friday following a stronger than expected earnings report. Approximately 2,480,011 shares were traded during trading, a decline of 4% from the previous session’s volume of 2,571,096 shares.The stock last traded at $8.23 and had previously closed at $7.91.

The real estate investment trust reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08.

Orchid Island Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, January 31st will be given a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 17.47%. The ex-dividend date of this dividend is Friday, January 31st. Orchid Island Capital’s dividend payout ratio is currently 137.14%.

Analyst Ratings Changes

Separately, JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On Orchid Island Capital

Several large investors have recently modified their holdings of the stock. State Street Corp grew its position in Orchid Island Capital by 13.0% in the third quarter. State Street Corp now owns 1,073,495 shares of the real estate investment trust’s stock valued at $8,952,000 after acquiring an additional 123,239 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Orchid Island Capital by 274.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,220 shares of the real estate investment trust’s stock valued at $4,819,000 after buying an additional 429,689 shares in the last quarter. Barclays PLC grew its stake in Orchid Island Capital by 409.6% during the third quarter. Barclays PLC now owns 94,005 shares of the real estate investment trust’s stock worth $773,000 after buying an additional 75,557 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Orchid Island Capital by 39.6% during the third quarter. Van ECK Associates Corp now owns 695,131 shares of the real estate investment trust’s stock worth $5,422,000 after buying an additional 197,052 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Orchid Island Capital by 34.3% in the third quarter. Geode Capital Management LLC now owns 1,650,122 shares of the real estate investment trust’s stock valued at $13,566,000 after acquiring an additional 421,718 shares during the last quarter. 32.74% of the stock is currently owned by institutional investors.

Orchid Island Capital Trading Up 4.2 %

The firm has a market capitalization of $658.36 million, a price-to-earnings ratio of 7.85 and a beta of 1.82. The firm has a fifty day moving average price of $7.89 and a 200 day moving average price of $8.00.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.