Orchid Island Capital (NYSE:ORC) Share Price Passes Below 200 Day Moving Average - Here's Why

Key Points

• Orchid Island Capital's stock price fell below its 200-day moving average, which is currently $7.49, trading as low as $7.27 before closing at $7.33.
• The company recently announced a monthly dividend of $0.12, reflecting a high dividend yield of 19.66%, despite a payout ratio of 360%.
• Analysts have updated their ratings on ORC, moving from a "sell" to a "hold," indicating a cautious outlook on the stock amid mixed performance in earnings reports.

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.49 and traded as low as $7.27. Orchid Island Capital shares last traded at $7.33, with a volume of 4,227,056 shares changing hands.

Analyst Ratings Changes

ORC has been the topic of a number of recent analyst reports. Jones Trading reaffirmed a "hold" rating on shares of Orchid Island Capital in a research note on Wednesday, April 30th. Wall Street Zen downgraded shares of Orchid Island Capital from a "hold" rating to a "strong sell" rating in a research note on Saturday.

Orchid Island Capital Trading Down 0.5%

The stock's 50 day moving average price is $7.06 and its 200 day moving average price is $7.48. The firm has a market cap of $924.35 million, a PE ratio of 36.53 and a beta of 1.49.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $23.15 million for the quarter, compared to analyst estimates of $23.25 million. Analysts forecast that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, July 31st will be issued a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 19.74%. The ex-dividend date is Thursday, July 31st. Orchid Island Capital's payout ratio is 720.00%.

Institutional Investors Weigh In On Orchid Island Capital

A number of large investors have recently added to or reduced their stakes in ORC. Vanguard Group Inc. grew its holdings in Orchid Island Capital by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 4,238,780 shares of the real estate investment trust's stock worth $32,978,000 after acquiring an additional 456,209 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Orchid Island Capital in the 4th quarter valued at about $127,000. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 177,357 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Orchid Island Capital by 40.0% in the 4th quarter. Wells Fargo & Company MN now owns 46,586 shares of the real estate investment trust's stock valued at $362,000 after buying an additional 13,316 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Orchid Island Capital by 32.8% in the 4th quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,522 shares during the period. 32.74% of the stock is owned by institutional investors and hedge funds.

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.