Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.14 and traded as low as $6.42. Orchid Island Capital shares last traded at $6.4950, with a volume of 5,455,623 shares traded.
Analyst Ratings Changes
A number of equities analysts recently commented on ORC shares. BTIG Research initiated coverage on Orchid Island Capital in a report on Thursday, July 9th. They set a "neutral" rating for the company. Weiss Ratings upgraded shares of Orchid Island Capital from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, July 15th. Finally, Wall Street Zen cut shares of Orchid Island Capital from a "hold" rating to a "sell" rating in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $7.50.
Check Out Our Latest Analysis on ORC
Orchid Island Capital Stock Down 2.0%
The company's fifty day moving average price is $6.74 and its 200-day moving average price is $7.14. The stock has a market capitalization of $1.30 billion, a PE ratio of 4.39 and a beta of 1.54. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.34.
Orchid Island Capital (NYSE:ORC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.02). The firm had revenue of $59.97 million during the quarter, compared to analysts' expectations of $74.26 million.
Orchid Island Capital Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 18.5%. Orchid Island Capital's dividend payout ratio is presently 81.08%.
Orchid Island Capital announced that its Board of Directors has authorized a stock buyback plan on Monday, June 22nd that permits the company to buyback 25,000,000,000,000 shares. This buyback authorization permits the real estate investment trust to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.
Hedge Funds Weigh In On Orchid Island Capital
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Orchid Island Capital by 91.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,650 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 1,739 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of 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 during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Orchid Island Capital by 32,505.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 6,501 shares during the last quarter. McIlrath & Eck LLC lifted its position in Orchid Island Capital by 157.2% during the first quarter. McIlrath & Eck LLC now owns 7,418 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 4,534 shares during the period. Finally, CWM LLC lifted its position in Orchid Island Capital by 72.0% during the fourth quarter. CWM LLC now owns 7,797 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 3,263 shares during the period. 32.74% of the stock is owned by institutional investors.
About Orchid Island Capital
(
Get Free Report)
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.
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