Orchid Island Capital (NYSE:ORC) Sees Unusually-High Trading Volume Following Earnings Beat

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 2,480,011 shares traded hands during mid-day trading, a decline of 4% from the previous session's volume of 2,571,096 shares.The stock last traded at $8.23 and had previously closed at $7.91.

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.

Orchid Island Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, January 31st will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.40%. The ex-dividend date of this dividend is Friday, January 31st. Orchid Island Capital's dividend payout ratio (DPR) is 240.00%.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a "market perform" rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. State Street Corp increased its stake 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 purchasing an additional 123,239 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Orchid Island Capital by 274.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,220 shares of the real estate investment trust's stock valued at $4,819,000 after buying an additional 429,689 shares during the period. Barclays PLC boosted its position in Orchid Island Capital by 409.6% in the 3rd quarter. Barclays PLC now owns 94,005 shares of the real estate investment trust's stock valued at $773,000 after buying an additional 75,557 shares during the period. Van ECK Associates Corp increased its position in shares of Orchid Island Capital by 39.6% during the third quarter. Van ECK Associates Corp now owns 695,131 shares of the real estate investment trust's stock worth $5,422,000 after acquiring an additional 197,052 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Orchid Island Capital by 34.3% during the third quarter. Geode Capital Management LLC now owns 1,650,122 shares of the real estate investment trust's stock valued at $13,566,000 after acquiring an additional 421,718 shares in the last quarter. Hedge funds and other institutional investors own 32.74% of the company's stock.

Orchid Island Capital Price Performance

The stock has a market cap of $660.76 million, a PE ratio of 13.79 and a beta of 1.83. The business has a fifty day moving average of $7.91 and a 200-day moving average of $7.99.

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.