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Orchid Island Capital (NYSE:ORC) Share Price Crosses Below 200 Day Moving Average of $14.60

Financial News Live · Oct 1, 2022 11:41

Orchid Island Capital, Inc. (NYSE:ORC – Get Rating) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.60 and traded as low as $8.10. Orchid Island Capital shares last traded at $8.22, with a volume of 1,896,982 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ORC. LADENBURG THALM/SH SH cut Orchid Island Capital to a "neutral" rating in a research report on Monday, August 15th. StockNews.com upgraded Orchid Island Capital to a "sell" rating in a research report on Thursday, September 8th.

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Orchid Island Capital Stock Performance

The stock has a market capitalization of $289.05 million, a P/E ratio of -1.31 and a beta of 1.33. The firm has a 50-day moving average price of $13.63 and a 200 day moving average price of $14.54.

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 27th. Investors of record on Friday, September 30th will be issued a $0.16 dividend. This represents a $1.92 annualized dividend and a dividend yield of 23.41%. The ex-dividend date of this dividend is Thursday, September 29th. Orchid Island Capital's payout ratio is currently -30.72%.

Hedge Funds Weigh In On Orchid Island Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in Orchid Island Capital by 40.2% during the second quarter. Legal & General Group Plc now owns 14,975 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 4,291 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Orchid Island Capital by 118.7% during the second quarter. Goldman Sachs Group Inc. now owns 163,585 shares of the real estate investment trust's stock valued at $466,000 after buying an additional 88,792 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Orchid Island Capital by 38.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 120,739 shares of the real estate investment trust's stock valued at $344,000 after purchasing an additional 33,502 shares during the period. Prudential Financial Inc. purchased a new stake in Orchid Island Capital during the second quarter worth $32,000. Finally, State Street Corp lifted its holdings in Orchid Island Capital by 12.6% during the second quarter. State Street Corp now owns 2,862,255 shares of the real estate investment trust's stock worth $8,283,000 after buying an additional 320,297 shares during the period. 22.13% of the stock is currently owned by hedge funds and other institutional investors.

About Orchid Island Capital

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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.