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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently 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 reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd.

Orchid Island Capital Stock Down 2.3 %

The company has a fifty day moving average of $8.30 and a two-hundred day moving average 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 announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.08. Equities analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

The company 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 dividend of $0.12 per share. 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 is presently 240.00%.

Institutional Trading of Orchid Island Capital

Several large investors have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of Orchid Island Capital in the third quarter valued at about $121,000. Charles Schwab Investment Management Inc. increased its position in Orchid Island Capital by 274.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,220 shares of the real estate investment trust’s stock worth $4,819,000 after buying an additional 429,689 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Orchid Island Capital by 29.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 26,466 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 5,945 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Orchid Island Capital by 32.6% during the third quarter. MetLife Investment Management LLC now owns 40,851 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 10,032 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Orchid Island Capital during the 3rd quarter worth $90,000. Institutional investors and hedge funds own 32.74% of the company’s stock.

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.