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

Orchid Island Capital, Inc. (NYSE:ORC) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.45 and traded as low as $8.26. Orchid Island Capital shares last traded at $8.29, with a volume of 1,722,577 shares.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott assumed coverage on shares of Orchid Island Capital in a report on Thursday, June 6th. They issued a “buy” rating and a $9.50 price objective on the stock.

Orchid Island Capital Stock Down 0.4 %

The stock has a market cap of $439.15 million, a P/E ratio of -15.64 and a beta of 1.86. The stock has a fifty day simple moving average of $8.29 and a 200-day simple moving average of $8.45.

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a yield of 17.37%. The ex-dividend date of this dividend is Friday, August 30th. Orchid Island Capital’s payout ratio is -271.70%.

Institutional Investors Weigh In On Orchid Island Capital

Several large investors have recently bought and sold shares of ORC. Strs Ohio increased its stake in Orchid Island Capital by 15.1% during the 4th quarter. Strs Ohio now owns 10,700 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 1,400 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Orchid Island Capital by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 1,422 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Orchid Island Capital by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,909 shares of the real estate investment trust’s stock worth $419,000 after acquiring an additional 1,642 shares during the period. Commonwealth Equity Services LLC lifted its position in Orchid Island Capital by 2.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 70,444 shares of the real estate investment trust’s stock valued at $588,000 after acquiring an additional 1,904 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Orchid Island Capital by 216.4% in the 4th 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 period. Institutional investors own 32.74% of the company’s stock.

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.