Orchid Island Capital (NYSE:ORC) Stock Price Down 2.9% – Here’s What Happened

Orchid Island Capital, Inc. (NYSE:ORC)’s stock price fell 2.9% during trading on Wednesday . The stock traded as low as $7.26 and last traded at $7.25. 2,145,628 shares traded hands during trading, a decline of 29% from the average session volume of 3,031,237 shares. The stock had previously closed at $7.46.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ORC. StockNews.com cut Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 27th. JMP Securities reissued a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, January 23rd.

Orchid Island Capital Price Performance

The firm’s 50 day moving average is $8.27 and its 200 day moving average is $8.03. The firm has a market cap of $620.87 million, a P/E ratio of 11.09 and a beta of 1.90.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.08. As a group, analysts expect that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Monday, March 31st will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 21.64%. The ex-dividend date of this dividend is Monday, March 31st. Orchid Island Capital’s dividend payout ratio is 240.00%.

Institutional Trading of Orchid Island Capital

Several large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in Orchid Island Capital by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,522 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Orchid Island Capital by 73.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 3,012 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Orchid Island Capital during the 3rd quarter worth approximately $58,000. Proficio Capital Partners LLC bought a new position in shares of Orchid Island Capital during the 4th quarter valued at approximately $82,000. Finally, Mariner LLC purchased a new position in shares of Orchid Island Capital in the fourth quarter valued at $82,000. 32.74% of the stock is currently owned by institutional investors.

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.