Orchid Island Capital (NYSE:ORC) Stock Crosses Below 200-Day Moving Average of $8.45

Orchid Island Capital, Inc. (NYSE:ORC)’s share price passed 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 changing hands.

Wall Street Analyst Weigh In

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

Orchid Island Capital Stock Performance

The firm has a fifty day moving average price of $8.27 and a two-hundred day moving average price of $8.45.

Orchid Island Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, September 27th. Shareholders 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 yield of 17.66%. The ex-dividend date is Friday, August 30th. Orchid Island Capital’s dividend payout ratio is -271.70%.

Institutional Investors Weigh In On Orchid Island Capital

A number of large investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Orchid Island Capital in the first quarter worth approximately $26,000. Russell Investments Group Ltd. grew its position in shares of Orchid Island Capital by 310.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,446 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Orchid Island Capital in the 2nd quarter worth $28,000. Parallel Advisors LLC raised its holdings 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. Finally, PNC Financial Services Group Inc. raised its holdings 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.