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

Orchid Island Capital, Inc. (NYSE:ORC) shares saw unusually-strong trading volume on Friday following a better than expected earnings announcement. 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, topping analysts’ consensus estimates of ($0.03) by $0.08.

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, January 31st will be issued a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued 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

Large investors have recently made changes to their positions in the stock. McIlrath & Eck LLC bought a new stake in Orchid Island Capital in the 3rd quarter valued at approximately $58,000. Quadrature Capital Ltd acquired a new stake in shares of Orchid Island Capital in the third quarter valued at approximately $90,000. Prairie Sky Financial Group LLC bought a new stake in shares of Orchid Island Capital in the third quarter worth $105,000. Intech Investment Management LLC acquired a new position in Orchid Island Capital during the third quarter worth $121,000. Finally, AQR Capital Management LLC bought a new position in Orchid Island Capital in the second quarter valued at $134,000. Institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Trading Up 4.2 %

The firm’s 50 day simple moving average is $7.89 and its 200-day simple moving average is $8.00. The stock has a market capitalization of $658.36 million, a price-to-earnings ratio of 7.85 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.