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

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

Wall Street Analysts Forecast Growth

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

Orchid Island Capital Price Performance

ORC stock opened at $8.40 on Friday. Orchid Island Capital has a 1 year low of $5.90 and a 1 year high of $11.27. The firm has a 50-day moving average of $8.55 and a 200 day moving average of $8.06.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 17.15%. The ex-dividend date of this dividend is Monday, April 29th. Orchid Island Capital’s payout ratio is currently -175.61%.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors have recently bought and sold shares of ORC. Vanguard Group Inc. increased its stake in shares of Orchid Island Capital by 59.9% during the fourth quarter. Vanguard Group Inc. now owns 3,391,733 shares of the real estate investment trust’s stock valued at $28,592,000 after purchasing an additional 1,270,805 shares in the last quarter. American International Group Inc. boosted its holdings in Orchid Island Capital by 18.7% in the fourth quarter. American International Group Inc. now owns 26,172 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 4,130 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Orchid Island Capital by 54.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,267 shares of the real estate investment trust’s stock worth $382,000 after purchasing an additional 15,969 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Orchid Island Capital by 1,145.1% in the fourth quarter. GSA Capital Partners LLP now owns 148,868 shares of the real estate investment trust’s stock worth $1,255,000 after purchasing an additional 136,912 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Orchid Island Capital by 1,079.3% during the 4th quarter. Barclays PLC now owns 92,207 shares of the real estate investment trust’s stock worth $777,000 after acquiring an additional 84,388 shares during the last quarter. 32.74% of the stock is owned by institutional investors.

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.