Orchid Island Capital (NYSE:ORC) Sets New 52-Week Low – Should You Sell?

Orchid Island Capital, Inc. (NYSE:ORC) shares reached a new 52-week low on Wednesday . The company traded as low as $5.89 and last traded at $5.99, with a volume of 500208 shares traded. The stock had previously closed at $6.17.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ORC shares. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd. StockNews.com downgraded shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 27th.

Orchid Island Capital Stock Down 3.0 %

The company has a market capitalization of $547.73 million, a P/E ratio of 9.81 and a beta of 1.68. The business’s 50-day moving average is $8.03 and its two-hundred day moving average is $7.94.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Analysts predict that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 30th. This represents a $1.44 annualized dividend and a yield of 24.53%. Orchid Island Capital’s payout ratio is 240.00%.

Hedge Funds Weigh In On Orchid Island Capital

A number of large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in Orchid Island Capital by 274.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,220 shares of the real estate investment trust’s stock worth $4,819,000 after acquiring an additional 429,689 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Orchid Island Capital by 29.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 26,466 shares of the real estate investment trust’s stock worth $218,000 after purchasing an additional 5,945 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Orchid Island Capital in the 3rd quarter worth about $90,000. State Street Corp boosted its stake in shares of Orchid Island Capital by 13.0% during the 3rd quarter. State Street Corp now owns 1,073,495 shares of the real estate investment trust’s stock valued at $8,952,000 after purchasing an additional 123,239 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Orchid Island Capital by 409.6% during the third quarter. Barclays PLC now owns 94,005 shares of the real estate investment trust’s stock valued at $773,000 after buying an additional 75,557 shares during the period. 32.74% of the stock is owned by hedge funds and other institutional investors.

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.