Orchid Island Capital (NYSE:ORC) Stock Passes Below 200-Day Moving Average – Time to Sell?

Orchid Island Capital, Inc. (NYSE:ORC)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.23 and traded as low as $6.83. Orchid Island Capital shares last traded at $6.9750, with a volume of 9,704,533 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ORC shares. Wall Street Zen cut shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. Weiss Ratings cut shares of Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $7.50.

Orchid Island Capital Stock Performance

The company’s 50-day moving average price is $6.82 and its two-hundred day moving average price is $7.23. 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 stock has a market cap of $1.39 billion, a PE ratio of 9.23 and a beta of 1.55.

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

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 17.3%. Orchid Island Capital’s dividend payout ratio is 160.00%.

Orchid Island Capital declared that its Board of Directors has authorized a share buyback plan on Monday, June 22nd that permits the company to buyback 25,000,000,000,000 outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 12.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Orchid Island Capital

A number of hedge funds have recently bought and sold shares of the company. McIlrath & Eck LLC boosted its stake in Orchid Island Capital by 157.2% in the first 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 in the last quarter. Bank of America Corp DE lifted its holdings in shares of Orchid Island Capital by 57.2% in the 1st quarter. Bank of America Corp DE now owns 187,642 shares of the real estate investment trust’s stock worth $1,319,000 after acquiring an additional 68,286 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Orchid Island Capital by 105.2% in the 1st quarter. Janus Henderson Group PLC now owns 99,880 shares of the real estate investment trust’s stock worth $702,000 after acquiring an additional 51,200 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Orchid Island Capital by 46.6% in the 1st quarter. California State Teachers Retirement System now owns 209,546 shares of the real estate investment trust’s stock valued at $1,473,000 after purchasing an additional 66,622 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Orchid Island Capital by 71.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 75,109 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 31,175 shares during the last quarter. Institutional investors 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.