Orchid Island Capital (NYSE:ORC) Sees Strong Trading Volume – Still a Buy?

Orchid Island Capital, Inc. (NYSE:ORC) shares saw unusually-high trading volume on Friday . Approximately 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. JMP Securities reissued 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 research report on Thursday.

Orchid Island Capital Stock Down 3.6 %

The stock has a 50 day simple moving average of $8.33 and a two-hundred day simple moving average of $8.06. The stock has a market capitalization of $715.01 million, a P/E ratio of 12.77 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 for the quarter, topping the consensus estimate of ($0.03) by $0.08. Sell-side analysts predict 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 paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.44 annualized dividend and a dividend yield of 18.79%. Orchid Island Capital’s payout ratio is 240.00%.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors and hedge funds have recently modified their holdings of ORC. State of Wyoming increased its position in shares of 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 acquiring an additional 42,056 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Orchid Island Capital by 63.8% in the 4th quarter. ProShare Advisors LLC now owns 22,162 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 8,633 shares during the period. Millennium Management LLC grew its stake in shares of 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 acquiring an additional 3,354 shares during the period. Deutsche Bank AG increased 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 purchasing an additional 5,530 shares in the last quarter. Finally, Centiva Capital LP raised its position 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 valued at $396,000 after purchasing an additional 22,987 shares during the period. 32.74% of the stock is currently owned by 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.