Orchid Island Capital (NYSE:ORC) Posts Earnings Results, Misses Expectations By $0.37 EPS

Orchid Island Capital (NYSE:ORC) released its earnings results on Thursday. The real estate investment trust reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.37), FiscalAI reports. The company had revenue of ($12.56) million for the quarter, compared to analyst estimates of $33.03 million.

Orchid Island Capital Trading Down 1.7%

Shares of Orchid Island Capital stock traded down $0.12 during trading on Thursday, hitting $6.84. The stock had a trading volume of 6,381,850 shares, compared to its average volume of 7,059,957. The stock has a 50 day simple moving average of $7.24 and a 200 day simple moving average of $7.39. The company has a market capitalization of $1.37 billion, a PE ratio of 6.57 and a beta of 1.63. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.09. Orchid Island Capital has a 1 year low of $6.62 and a 1 year high of $8.40.

Orchid Island Capital Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, April 30th will be given a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 17.6%. The ex-dividend date of this dividend is Thursday, April 30th. Orchid Island Capital’s dividend payout ratio (DPR) is 115.38%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings downgraded shares of Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $7.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in Orchid Island Capital by 64.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,502 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Orchid Island Capital during the second quarter valued at approximately $55,000. Genesis Wealth Advisors LLC purchased a new position in Orchid Island Capital during the fourth quarter valued at approximately $72,000. Cibc World Markets Corp purchased a new position in Orchid Island Capital during the fourth quarter valued at approximately $73,000. Finally, US Bancorp DE grew its position in Orchid Island Capital by 49.2% during the third quarter. US Bancorp DE now owns 10,260 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 3,382 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 is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.