Orchid Island Capital (NYSE:ORC) Stock Price Crosses Below Two Hundred Day Moving Average - Should You Sell?

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)'s stock price 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 trading hands.

Analysts Set New Price Targets

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

Orchid Island Capital Price Performance

The firm has a 50-day moving average price of $7.05 and a 200 day moving average price of $7.49. The company has a market cap of $928.19 million, a price-to-earnings ratio of 18.31 and a beta of 1.49.

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

Orchid Island Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, July 31st will be given a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 19.66%. The ex-dividend date of this dividend is Thursday, July 31st. Orchid Island Capital's payout ratio is 360.00%.

Hedge Funds Weigh In On Orchid Island Capital

Several institutional investors and hedge funds have recently made changes to their positions in ORC. Rogco LP acquired a new stake in Orchid Island Capital during the first quarter worth approximately $28,000. US Bancorp DE grew its position in Orchid Island Capital by 1,123.1% during the first quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock worth $29,000 after buying an additional 3,504 shares in the last quarter. Russell Investments Group Ltd. grew its position in Orchid Island Capital by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,522 shares in the last quarter. Quarry LP acquired a new stake in Orchid Island Capital during the first quarter worth approximately $50,000. Finally, Tower Research Capital LLC TRC grew its position in Orchid Island Capital by 73.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust's stock worth $55,000 after buying an additional 3,012 shares in the last quarter. Institutional investors and hedge funds own 32.74% of the company's stock.

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.

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