Orchid Island Capital (NYSE:ORC) Share Price Crosses Above 50-Day Moving Average of $8.48

Orchid Island Capital, Inc. (NYSE:ORC)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.48 and traded as high as $8.54. Orchid Island Capital shares last traded at $8.48, with a volume of 2,919,509 shares.

Analyst Upgrades and Downgrades

ORC has been the topic of a number of research analyst reports. Janney Montgomery Scott assumed coverage on Orchid Island Capital in a report on Thursday, June 6th. They set a “buy” rating and a $9.50 price target on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, April 18th.

Orchid Island Capital Trading Up 0.4 %

The business’s 50 day simple moving average is $8.48 and its two-hundred day simple moving average is $8.49. The firm has a market capitalization of $449.19 million, a PE ratio of -16.00 and a beta of 1.85.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). During the same period in the previous year, the firm posted ($0.24) EPS. As a group, equities research analysts anticipate that Orchid Island Capital, Inc. will post -0.34 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 30th. Investors of record on Friday, June 28th will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 16.98%. The ex-dividend date is Friday, June 28th. Orchid Island Capital’s payout ratio is -271.70%.

Institutional Trading of Orchid Island Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EMG Holdings L.P. bought a new stake in shares of Orchid Island Capital during the 4th quarter valued at $4,364,000. Hudson Bay Capital Management LP bought a new stake in Orchid Island Capital during the third quarter valued at about $4,648,000. Invesco Ltd. increased its position in Orchid Island Capital by 33.6% in the third quarter. Invesco Ltd. now owns 2,073,998 shares of the real estate investment trust’s stock worth $17,650,000 after buying an additional 521,401 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Orchid Island Capital by 2.6% in the third quarter. Vanguard Group Inc. now owns 2,120,928 shares of the real estate investment trust’s stock worth $18,049,000 after buying an additional 53,652 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Orchid Island Capital by 12.6% during the 4th quarter. Van ECK Associates Corp now owns 403,659 shares of the real estate investment trust’s stock valued at $3,403,000 after buying an additional 45,279 shares in the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

About Orchid Island Capital

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.