Orchid Island Capital (NYSE:ORC) Hits New 12-Month Low – What’s Next?

Orchid Island Capital, Inc. (NYSE:ORC)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $6.56 and last traded at $6.5550, with a volume of 2106846 shares traded. The stock had previously closed at $6.65.

Wall Street Analyst Weigh In

ORC has been the subject of several research analyst reports. Weiss Ratings lowered Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Wall Street Zen lowered Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Orchid Island Capital currently has an average rating of “Reduce” and an average target price of $7.50.

Orchid Island Capital Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 509.34 and a current ratio of 509.34. The company has a 50-day moving average of $6.95 and a 200-day moving average of $7.29. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 8.61 and a beta of 1.55.

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

Orchid Island Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 18.6%. Orchid Island Capital’s dividend payout ratio is 160.00%.

Institutional Investors Weigh In On Orchid Island Capital

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised 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 acquiring an additional 2,502 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Orchid Island Capital by 32,505.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 6,501 shares during the period. McIlrath & Eck LLC raised its stake in Orchid Island Capital by 157.2% in the 1st quarter. McIlrath & Eck LLC now owns 7,418 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 4,534 shares during the period. Raymond James Financial Inc. bought a new stake in Orchid Island Capital in the 2nd quarter valued at $55,000. Finally, CWM LLC raised its stake in Orchid Island Capital by 72.0% in the 4th quarter. CWM LLC now owns 7,797 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 3,263 shares during the period. 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.