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

Shares of Orchid Island Capital, Inc. (NYSE:ORC) saw an uptick in trading volume on Friday . 3,129,667 shares traded hands 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.

Analyst Upgrades and Downgrades

ORC has been the subject of a number of analyst reports. StockNews.com lowered shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Thursday. JMP Securities reissued a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, January 23rd.

Orchid Island Capital Stock Performance

The firm has a market capitalization of $715.01 million, a PE ratio of 12.77 and a beta of 1.90. The company has a fifty day moving average price of $8.33 and a 200-day moving average price of $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, beating analysts’ consensus estimates of ($0.03) by $0.08. On average, equities analysts predict that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Monday, March 31st will be issued a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 18.79%. The ex-dividend date of this dividend is Monday, March 31st. Orchid Island Capital’s dividend payout ratio is 240.00%.

Hedge Funds Weigh In On Orchid Island Capital

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