Orchid Island Capital (NYSE:ORC) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Orchid Island Capital, Inc. (NYSE:ORC) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.26 and traded as low as $6.55. Orchid Island Capital shares last traded at $6.6250, with a volume of 6,772,462 shares.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Orchid Island Capital presently has an average rating of “Reduce” and a consensus price target of $7.50.

Orchid Island Capital Trading Down 0.2%

The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.91 and a beta of 1.55. The firm has a 50-day moving average price of $6.88 and a 200-day moving average price of $7.25. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.26.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of ($12.56) million during the quarter, compared to the consensus estimate of $33.03 million.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Tuesday, June 30th will be issued a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 18.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Orchid Island Capital’s dividend payout ratio is presently 160.00%.

Hedge Funds Weigh In On Orchid Island Capital

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Orchid Island Capital by 23.4% during the fourth quarter. Vanguard Group Inc. now owns 9,767,670 shares of the real estate investment trust’s stock worth $70,327,000 after buying an additional 1,850,221 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Orchid Island Capital by 3.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,953,916 shares of the real estate investment trust’s stock valued at $27,717,000 after buying an additional 149,251 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Orchid Island Capital by 25.6% in the fourth quarter. Geode Capital Management LLC now owns 3,903,240 shares of the real estate investment trust’s stock valued at $28,109,000 after buying an additional 795,210 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Orchid Island Capital by 10.3% in the third quarter. Invesco Ltd. now owns 3,165,436 shares of the real estate investment trust’s stock valued at $22,190,000 after buying an additional 294,547 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Orchid Island Capital by 18.8% during the 4th quarter. State Street Corp now owns 3,059,581 shares of the real estate investment trust’s stock valued at $22,394,000 after acquiring an additional 484,209 shares during the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

Orchid Island Capital Company Profile

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.