Orchid Island Capital (NYSE:ORC) Sees Unusually-High Trading Volume After 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 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 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08.

Orchid Island Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, January 31st will be paid a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a yield of 17.24%. The ex-dividend date of this dividend is Friday, January 31st. Orchid Island Capital’s payout ratio is 137.14%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. McIlrath & Eck LLC acquired a new stake in Orchid Island Capital in the third quarter valued at approximately $58,000. Quadrature Capital Ltd acquired a new stake in Orchid Island Capital during the 3rd quarter worth $90,000. Prairie Sky Financial Group LLC purchased a new stake in shares of Orchid Island Capital in the 3rd quarter valued at about $105,000. Intech Investment Management LLC purchased a new stake in Orchid Island Capital in the third quarter valued at approximately $121,000. Finally, AQR Capital Management LLC purchased a new stake in Orchid Island Capital in the 2nd quarter valued at $134,000. 32.74% of the stock is currently owned by hedge funds and other institutional investors.

Orchid Island Capital Trading Up 4.0 %

The stock has a market cap of $667.15 million, a price-to-earnings ratio of 7.96 and a beta of 1.82. The stock’s 50 day moving average is $7.90 and its two-hundred day moving average is $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.