Orchid Island Capital (NYSE:ORC) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Shares of Orchid Island Capital, Inc. (NYSE:ORC) passed 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 traded.

Wall Street Analysts Forecast Growth

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

Orchid Island Capital Stock Down 0.8%

The firm has a fifty day simple moving average of $6.89 and a 200-day simple moving average of $7.26. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 8.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 509.34 and a current ratio of 509.34.

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

Orchid Island Capital Dividend Announcement

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 dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 18.1%. Orchid Island Capital’s dividend payout ratio (DPR) is currently 160.00%.

Institutional Investors Weigh In On Orchid Island Capital

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in Orchid Island Capital by 64.0% during 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 purchasing an additional 2,502 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Orchid Island Capital by 32,505.0% during 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 purchasing an additional 6,501 shares during the last quarter. McIlrath & Eck LLC increased its position in Orchid Island Capital by 157.2% during the 1st quarter. McIlrath & Eck LLC now owns 7,418 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 4,534 shares during the period. Raymond James Financial Inc. bought a new position in Orchid Island Capital during the 2nd quarter worth $55,000. Finally, CWM LLC increased its position in Orchid Island Capital by 72.0% during the 4th quarter. CWM LLC now owns 7,797 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 3,263 shares during the period. 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.