Orchid Island Capital (NYSE:ORC) Stock Crosses Above 50 Day Moving Average of $5.70

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Shares of Orchid Island Capital Inc (NYSE:ORC) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.70 and traded as high as $5.71. Orchid Island Capital shares last traded at $5.66, with a volume of 8,201 shares traded.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. ValuEngine cut Orchid Island Capital from a “buy” rating to a “hold” rating in a report on Tuesday.

The stock has a market capitalization of $358.17 million, a price-to-earnings ratio of 4.12 and a beta of 0.48. The business has a fifty day moving average of $5.68 and a 200 day moving average of $6.02.

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 16.90%. The ex-dividend date is Wednesday, November 27th. Orchid Island Capital’s dividend payout ratio (DPR) is presently 69.57%.

Several large investors have recently bought and sold shares of ORC. NEXT Financial Group Inc purchased a new stake in Orchid Island Capital during the second quarter worth about $34,000. Bank of Montreal Can increased its stake in Orchid Island Capital by 332.6% during the 2nd quarter. Bank of Montreal Can now owns 5,645 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 4,340 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in Orchid Island Capital during the 2nd quarter worth approximately $65,000. Metropolitan Life Insurance Co NY lifted its holdings in Orchid Island Capital by 17.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,832 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 2,028 shares in the last quarter. Finally, Strs Ohio lifted its holdings in Orchid Island Capital by 18.8% during the 3rd quarter. Strs Ohio now owns 17,100 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 2,700 shares in the last quarter. 38.51% of the stock is owned by hedge funds and other institutional investors.

About Orchid Island Capital (NYSE:ORC)

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS are backed primarily by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS; and structured Agency RMBS, including collateralized mortgage obligations, interest only securities, inverse interest only securities, and principal only securities.

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