Orchid Island Capital (NYSE:ORC) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Orchid Island Capital, Inc. (NYSE:ORC) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.38 and traded as low as $6.98. Orchid Island Capital shares last traded at $6.9950, with a volume of 5,415,832 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Compass Point started coverage on shares of Orchid Island Capital in a research report on Monday, December 15th. They set a “neutral” rating and a $7.50 target price on the stock. Weiss Ratings upgraded shares of Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 26th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.50.

Orchid Island Capital Trading Down 2.2%

The business has a 50-day moving average price of $7.58 and a 200-day moving average price of $7.38. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.37 billion, a P/E ratio of 6.73 and a beta of 1.67.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $124.78 million during the quarter, compared to the consensus estimate of $35.74 million. Analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.12 per share. This represents a c) annualized dividend and a dividend yield of 20.6%. The ex-dividend date is Tuesday, March 31st. Orchid Island Capital’s payout ratio is 138.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new position in shares of Orchid Island Capital in the 3rd quarter worth approximately $29,000. CWM LLC boosted its stake in Orchid Island Capital by 123.1% in the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 2,502 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Orchid Island Capital by 64.0% in 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 acquiring an additional 2,502 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Orchid Island Capital by 32,505.0% in 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 acquiring an additional 6,501 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Orchid Island Capital during the second quarter worth $55,000. Institutional investors own 32.74% of the company’s stock.

About Orchid Island Capital

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.