Orchid Island Capital (NYSE:ORC) Reaches New 1-Year Low – Should You Sell?

Orchid Island Capital, Inc. (NYSE:ORC)’s stock price reached a new 52-week low during mid-day trading on Monday. The company traded as low as $4.85 and last traded at $4.8040, with a volume of 629,812 shares changing hands. The stock had previously closed at $4.97.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings lowered Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. BTIG Research began coverage on Orchid Island Capital in a research note on Thursday, July 9th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $7.50.

Orchid Island Capital Price Performance

The stock has a market cap of $979.04 million, a P/E ratio of 5.48 and a beta of 1.60. The company has a fifty day moving average of $5.99 and a 200 day moving average of $6.53.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $59.97 million for the quarter, compared to the consensus estimate of $74.26 million.

Orchid Island Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, October 30th will be given a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 24.5%. The ex-dividend date of this dividend is Friday, October 30th. Orchid Island Capital’s dividend payout ratio (DPR) is 81.08%.

Institutional Trading of Orchid Island Capital

Several institutional investors have recently made changes to their positions in ORC. Nisa Investment Advisors LLC increased its stake in shares of Orchid Island Capital by 238.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 58,314 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 41,102 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Orchid Island Capital by 10.0% in the 2nd quarter. Arizona State Retirement System now owns 55,379 shares of the real estate investment trust’s stock valued at $386,000 after purchasing an additional 5,018 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Orchid Island Capital in the 2nd quarter valued at $690,000. Ameritas Advisory Services LLC bought a new stake in Orchid Island Capital in the second quarter worth $78,000. Finally, Bank of New York Mellon Corp bought a new stake in Orchid Island Capital in the second quarter worth $3,899,000. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS) issued or guaranteed by U.S. government-sponsored entities. Its portfolio generally consists of agency securities backed by mortgages insured or guaranteed by the Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac).

The company seeks to generate income from its investments and manage interest-rate and prepayment risks through portfolio construction, financing arrangements, and hedging strategies.