Orchid Island Capital (NYSE:ORC) Sees Strong Trading Volume – What’s Next?

Orchid Island Capital, Inc. (NYSE:ORC) shares saw strong trading volume on Friday . 3,129,667 shares were traded during trading, an increase of 52% from the previous session’s volume of 2,055,168 shares.The stock last traded at $7.68 and had previously closed at $7.95.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ORC. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd. StockNews.com lowered Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Thursday.

Orchid Island Capital Stock Down 3.7 %

The stock has a market capitalization of $714.17 million, a PE ratio of 12.76 and a beta of 1.90. The firm’s fifty day moving average is $8.33 and its 200-day moving average is $8.06.

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 analysts’ consensus estimates of ($0.03) by $0.08. On average, analysts expect that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 18.81%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 240.00%.

Institutional Trading of Orchid Island Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in shares of Orchid Island Capital by 32.8% during the 4th quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,522 shares during the period. McIlrath & Eck LLC purchased a new position in Orchid Island Capital in the 3rd quarter valued at approximately $58,000. Tower Research Capital LLC TRC raised its holdings in Orchid Island Capital by 73.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 3,012 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Orchid Island Capital during the fourth quarter worth $82,000. Finally, Mariner LLC acquired a new stake in Orchid Island Capital in the fourth quarter valued at $82,000. Institutional investors and hedge funds 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.