Orchid Island Capital (NYSE:ORC) Sees Large Volume Increase – Should You Buy?

Orchid Island Capital, Inc. (NYSE:ORC) shares saw an uptick in trading volume on Friday . 3,129,667 shares changed hands during mid-day 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.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com cut Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd.

Orchid Island Capital Stock Performance

The company’s fifty day moving average is $8.33 and its two-hundred day moving average is $8.06. The firm has a market cap of $714.17 million, a price-to-earnings ratio of 12.76 and a beta of 1.90.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.08. As a group, analysts forecast that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal 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 given a dividend of $0.12 per share. The ex-dividend date is Monday, March 31st. This represents a $1.44 annualized dividend and a dividend yield of 18.81%. Orchid Island Capital’s payout ratio is 240.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ORC. Vanguard Group Inc. grew its holdings in shares of Orchid Island Capital by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 4,238,780 shares of the real estate investment trust’s stock valued at $32,978,000 after purchasing an additional 456,209 shares during the last quarter. Invesco Ltd. grew its stake in Orchid Island Capital by 3,379.3% during the 4th quarter. Invesco Ltd. now owns 2,354,065 shares of the real estate investment trust’s stock worth $18,315,000 after buying an additional 2,286,405 shares during the last quarter. Geode Capital Management LLC grew its stake in Orchid Island Capital by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 1,827,479 shares of the real estate investment trust’s stock worth $14,221,000 after buying an additional 177,357 shares during the last quarter. State Street Corp increased its position in 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 worth $8,952,000 after buying an additional 123,239 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Orchid Island Capital by 79.0% during the fourth quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust’s stock valued at $6,972,000 after acquiring an additional 395,650 shares during the period. 32.74% of the stock is owned by institutional investors and hedge funds.

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.