Orchid Island Capital (NYSE:ORC) Hits New 52-Week Low at $4.16

Orchid Island Capital, Inc. (NYSE:ORC) hit a new 52-week low during trading on Saturday . The stock traded as low as $4.16 and last traded at $4.22, with a volume of 14848784 shares. The stock had previously closed at $4.58.

Several research analysts have commented on the company. JMP Securities assumed coverage on Orchid Island Capital in a research note on Wednesday. They set a “market perform” rating for the company. Zacks Investment Research upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Tuesday, January 4th.

The company has a market capitalization of $746.91 million, a P/E ratio of -52.75 and a beta of 1.25. The company has a fifty day moving average price of $4.64 and a two-hundred day moving average price of $4.90.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 28th. The real estate investment trust reported $0.22 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. During the same period in the prior year, the firm earned $0.33 EPS. Sell-side analysts expect that Orchid Island Capital, Inc. will post 0.96 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Thursday, January 27th. Investors of record on Friday, December 31st will be issued a $0.065 dividend. This represents a $0.78 annualized dividend and a yield of 18.48%. The ex-dividend date of this dividend is Thursday, December 30th. Orchid Island Capital’s payout ratio is presently -975.00%.

Hedge funds have recently made changes to their positions in the stock. Ellevest Inc. boosted its holdings in Orchid Island Capital by 76.5% in the third quarter. Ellevest Inc. now owns 9,712 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 4,210 shares during the last quarter. Wagner Wealth Management LLC bought a new stake in Orchid Island Capital in the second quarter valued at approximately $51,000. Great Lakes Advisors LLC bought a new stake in Orchid Island Capital in the second quarter valued at approximately $53,000. Principal Financial Group Inc. bought a new stake in Orchid Island Capital in the second quarter valued at approximately $57,000. Finally, Busey Wealth Management bought a new position in shares of Orchid Island Capital during the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

About Orchid Island Capital (NYSE:ORC)

Orchid Island Capital, Inc operates as a specialty finance company, which engages in investing in residential mortgage-backed securities (RMBS). Its portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS. The traditional pass-through Agency RMBS include mortgage pass through certificates and collateralized mortgage obligations.

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