Orchid Island Capital (NYSE:ORC) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of Orchid Island Capital, Inc. (NYSE:ORC) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.39 and traded as low as $7.25. Orchid Island Capital shares last traded at $7.2650, with a volume of 4,822,626 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ORC. Weiss Ratings raised Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 26th. Compass Point started coverage on shares of Orchid Island Capital in a research note on Monday, December 15th. They set a “neutral” rating and a $7.50 price target for the company. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Orchid Island Capital Trading Down 1.5%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 509.34 and a current ratio of 509.34. The firm has a market capitalization of $1.36 billion, a P/E ratio of 6.86 and a beta of 1.67. The firm has a 50 day simple moving average of $7.67 and a two-hundred day simple moving average of $7.39.

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

Orchid Island Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 20.2%. Orchid Island Capital’s dividend payout ratio is presently 138.46%.

Institutional Trading of Orchid Island Capital

Hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its holdings in shares of Orchid Island Capital by 17.8% in the 2nd quarter. Prudential Financial Inc. now owns 13,189 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 1,995 shares during the period. Barclays PLC grew its holdings in Orchid Island Capital by 1.0% during the third quarter. Barclays PLC now owns 203,626 shares of the real estate investment trust’s stock valued at $1,427,000 after purchasing an additional 2,016 shares during the period. CreativeOne Wealth LLC grew its holdings in Orchid Island Capital by 11.8% during the fourth quarter. CreativeOne Wealth LLC now owns 19,248 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 2,025 shares during the period. CWM LLC increased its position in Orchid Island Capital by 123.1% in the third quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 2,502 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Orchid Island Capital by 64.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 2,502 shares in the last quarter. 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.