Orchid Island Capital (NYSE:ORC) Issues Q1 2024 Earnings Guidance

Orchid Island Capital (NYSE:ORC) updated its first quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.120–0.120 for the period, compared to the consensus EPS estimate of -0.070. The company issued revenue guidance of -.

Orchid Island Capital Price Performance

Shares of Orchid Island Capital stock traded down $0.41 on Wednesday, reaching $8.27. 1,987,493 shares of the company were exchanged, compared to its average volume of 1,156,159. The stock’s 50 day moving average price is $8.54 and its 200-day moving average price is $8.06. The company has a market cap of $424.25 million, a P/E ratio of -10.09 and a beta of 1.83. Orchid Island Capital has a 1-year low of $5.90 and a 1-year high of $11.27.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, March 28th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.41%. Orchid Island Capital’s payout ratio is -175.61%.

Analyst Ratings Changes

Separately, StockNews.com raised Orchid Island Capital to a sell rating in a report on Friday, February 9th.

Hedge Funds Weigh In On Orchid Island Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Orchid Island Capital by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 476,111 shares of the real estate investment trust’s stock valued at $1,548,000 after acquiring an additional 28,074 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Orchid Island Capital by 178.8% during the first quarter. MetLife Investment Management LLC now owns 73,169 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 46,924 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Orchid Island Capital by 50.3% in the 1st quarter. Vanguard Group Inc. now owns 10,183,641 shares of the real estate investment trust’s stock valued at $33,097,000 after purchasing an additional 3,406,623 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Orchid Island Capital by 29.0% in the 1st quarter. Penserra Capital Management LLC now owns 60,851 shares of the real estate investment trust’s stock valued at $197,000 after purchasing an additional 13,680 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Orchid Island Capital by 1.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 371,618 shares of the real estate investment trust’s stock worth $1,208,000 after buying an additional 6,844 shares during the last quarter. 32.74% of the stock is owned by institutional investors and hedge funds.

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.