Orchid Island Capital (NYSE:ORC) Stock Passes Below 200 Day Moving Average - Here's What Happened

Shares of Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.57 and traded as low as $7.02. Orchid Island Capital shares last traded at $7.11, with a volume of 3,396,977 shares traded.

Wall Street Analysts Forecast Growth

ORC has been the topic of a number of analyst reports. Wall Street Zen upgraded Orchid Island Capital from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Jones Trading restated a "hold" rating on shares of Orchid Island Capital in a research report on Wednesday, April 30th.

Orchid Island Capital Price Performance

The company has a market capitalization of $866.65 million, a price-to-earnings ratio of 102.43 and a beta of 1.49. The firm's 50-day simple moving average is $7.05 and its two-hundred day simple moving average is $7.55.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The company had revenue of $19.71 million during the quarter, compared to analyst estimates of $11.96 million. On average, analysts expect that Orchid Island Capital, Inc. will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Dividend Announcement

The firm also recently disclosed a jun 25 dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, June 30th will be given a $0.12 dividend. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 20.5%. Orchid Island Capital's dividend payout ratio is presently 360.00%.

Hedge Funds Weigh In On Orchid Island Capital

Several hedge funds have recently added to or reduced their stakes in ORC. Charles Schwab Investment Management Inc. raised its holdings in shares of Orchid Island Capital by 13.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 663,655 shares of the real estate investment trust's stock worth $5,163,000 after acquiring an additional 77,435 shares during the last quarter. Ameriprise Financial Inc. increased its position in Orchid Island Capital by 79.0% during the 4th quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock worth $6,972,000 after purchasing an additional 395,650 shares in the last quarter. Northern Trust Corp raised its stake in Orchid Island Capital by 16.8% in the 4th quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust's stock valued at $5,310,000 after purchasing an additional 98,030 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Orchid Island Capital by 10.7% in the 4th quarter. Geode Capital Management LLC now owns 1,827,479 shares of the real estate investment trust's stock valued at $14,221,000 after purchasing an additional 177,357 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Orchid Island Capital by 1.1% during the 4th quarter. Millennium Management LLC now owns 309,480 shares of the real estate investment trust's stock worth $2,408,000 after purchasing an additional 3,354 shares during the last quarter. 32.74% of the stock is currently owned by hedge funds and other institutional investors.

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.