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

Orchid Island Capital, Inc. (NYSE:ORC) saw strong trading volume on Friday following a better than expected earnings announcement. 2,480,011 shares changed hands during mid-day 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, topping the consensus estimate of ($0.03) by $0.08.

Orchid Island Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, January 31st will be given a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.24%. The ex-dividend date is Friday, January 31st. Orchid Island Capital’s dividend payout ratio (DPR) is 137.14%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORC. State Street Corp grew its holdings in shares of 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 purchasing an additional 123,239 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Orchid Island Capital by 274.5% in the 3rd 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 during the period. Barclays PLC grew its stake in shares of Orchid Island Capital by 409.6% in the 3rd quarter. Barclays PLC now owns 94,005 shares of the real estate investment trust’s stock valued at $773,000 after buying an additional 75,557 shares during the period. Van ECK Associates Corp increased its holdings in shares of Orchid Island Capital by 39.6% during the 3rd 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 during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Orchid Island Capital by 34.3% during the 3rd 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 buying an additional 421,718 shares during the period. Institutional investors and hedge funds own 32.74% of the company’s stock.

Orchid Island Capital Stock Up 4.0 %

The firm has a 50-day moving average of $7.90 and a two-hundred day moving average of $8.00. The company has a market capitalization of $667.15 million, a PE ratio of 7.96 and a beta of 1.82.

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.