Orchid Island Capital (NYSE:ORC) Stock Price Down 2.9% – Here’s What Happened

Orchid Island Capital, Inc. (NYSE:ORC) traded down 2.9% during trading on Wednesday . The company traded as low as $7.26 and last traded at $7.25. 2,145,628 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 3,031,237 shares. The stock had previously closed at $7.46.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ORC shares. StockNews.com lowered shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 27th. JMP Securities reissued a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd.

Orchid Island Capital Price Performance

The stock has a 50 day moving average price of $8.30 and a 200-day moving average price of $8.05. The stock has a market capitalization of $680.11 million, a price-to-earnings ratio of 12.15 and a beta of 1.90.

Orchid Island Capital (NYSE:ORC) last released 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. As a group, research analysts forecast that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 29th. Investors of record on Monday, March 31st will be issued a $0.12 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.44 annualized dividend and a yield of 19.75%. Orchid Island Capital’s dividend payout ratio (DPR) is currently 240.00%.

Institutional Investors Weigh In On Orchid Island Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming lifted its stake in Orchid Island Capital by 622.2% during the fourth quarter. State of Wyoming now owns 48,815 shares of the real estate investment trust’s stock worth $380,000 after purchasing an additional 42,056 shares in the last quarter. ProShare Advisors LLC increased its stake in Orchid Island Capital by 63.8% during the 4th quarter. ProShare Advisors LLC now owns 22,162 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 8,633 shares during the period. Millennium Management LLC lifted its holdings in Orchid Island Capital by 1.1% during the 4th quarter. Millennium Management LLC now owns 309,480 shares of the real estate investment trust’s stock worth $2,408,000 after buying an additional 3,354 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Orchid Island Capital by 17.6% in the fourth quarter. Deutsche Bank AG now owns 36,869 shares of the real estate investment trust’s stock worth $287,000 after acquiring an additional 5,530 shares in the last quarter. Finally, Centiva Capital LP grew its stake in shares of Orchid Island Capital by 82.4% in the fourth quarter. Centiva Capital LP now owns 50,881 shares of the real estate investment trust’s stock worth $396,000 after acquiring an additional 22,987 shares in the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

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.