Orchid Island Capital (NYSE:ORC) Shares Cross Below 200 Day Moving Average of $8.45

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 $8.45 and traded as low as $8.14. Orchid Island Capital shares last traded at $8.16, with a volume of 1,635,792 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ORC. Janney Montgomery Scott initiated coverage on shares of Orchid Island Capital in a research report on Thursday, June 6th. They issued a “buy” rating and a $9.50 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Wednesday, August 28th.

Orchid Island Capital Stock Up 0.1 %

The stock has a 50-day moving average of $8.26 and a 200-day moving average of $8.44. The company has a market cap of $582.13 million, a PE ratio of -15.38 and a beta of 1.85.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.65%. The ex-dividend date of this dividend is Friday, August 30th. Orchid Island Capital’s payout ratio is currently -271.70%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in shares of Orchid Island Capital in the first quarter worth $26,000. Russell Investments Group Ltd. grew its stake in shares of Orchid Island Capital by 310.0% in the fourth quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,446 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Orchid Island Capital during the second quarter valued at approximately $28,000. Parallel Advisors LLC boosted its holdings in Orchid Island Capital by 216.4% in the fourth quarter. Parallel Advisors LLC now owns 3,433 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,348 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Orchid Island Capital by 1,054.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,062 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 3,710 shares during the period. 32.74% of the stock is currently owned by institutional investors.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.