Investors Purchase Large Volume of Put Options on Orchid Island Capital (NYSE:ORC)

Orchid Island Capital, Inc. (NYSE:ORC) saw some unusual options trading activity on Tuesday. Investors purchased 2,068 put options on the company. This is an increase of approximately 1,399% compared to the typical volume of 138 put options.

Orchid Island Capital Stock Up 0.5 %

NYSE:ORC opened at $8.34 on Wednesday. The company has a fifty day moving average of $8.49 and a 200 day moving average of $8.51. Orchid Island Capital has a 52 week low of $5.90 and a 52 week high of $11.27. The firm has a market capitalization of $441.77 million, a P/E ratio of -15.74 and a beta of 1.86.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). During the same quarter in the previous year, the firm posted ($0.24) earnings per share. As a group, analysts anticipate that Orchid Island Capital will post -0.34 EPS for the current year.

Orchid Island Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, July 30th. Investors of record on Friday, June 28th will be paid a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 17.27%. The ex-dividend date is Friday, June 28th. Orchid Island Capital’s payout ratio is -271.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ORC. Janney Montgomery Scott started coverage on Orchid Island Capital in a research note on Thursday, June 6th. They set a “buy” rating and a $9.50 price objective on the stock. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, April 18th.

Institutional Investors Weigh In On Orchid Island Capital

Large investors have recently modified their holdings of the stock. EMG Holdings L.P. purchased a new stake in shares of Orchid Island Capital in the 4th quarter worth about $4,364,000. Hudson Bay Capital Management LP bought a new position in shares of Orchid Island Capital in the third quarter worth approximately $4,648,000. Vanguard Group Inc. grew its holdings in shares of Orchid Island Capital by 2.6% during the third quarter. Vanguard Group Inc. now owns 2,120,928 shares of the real estate investment trust’s stock valued at $18,049,000 after buying an additional 53,652 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Orchid Island Capital by 12.6% during the fourth quarter. Van ECK Associates Corp now owns 403,659 shares of the real estate investment trust’s stock valued at $3,403,000 after acquiring an additional 45,279 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Orchid Island Capital by 310.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,446 shares in the last quarter. Institutional investors own 32.74% of the company’s stock.

About Orchid Island Capital

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.