Orchid Island Capital (NYSE:ORC) Sets New 1-Year Low – What’s Next?

Shares of Orchid Island Capital, Inc. (NYSE:ORC) hit a new 52-week low on Thursday. The stock traded as low as $4.64 and last traded at $4.6850, with a volume of 743,060 shares traded. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $7.50.

Orchid Island Capital Price Performance

The firm has a market cap of $906.09 million, a price-to-earnings ratio of 93.70 and a beta of 1.64. The business has a fifty day simple moving average of $5.44 and a 200 day simple moving average of $6.61.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.19). The firm had revenue of $59.13 million during the quarter, compared to analysts’ expectations of $73.41 million.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 30th will be issued a $0.10 dividend. The ex-dividend date is Monday, November 30th. This represents a $1.20 dividend on an annualized basis and a yield of 25.6%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 2,400.00%.

Institutional Investors Weigh In On Orchid Island Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. purchased a new stake in shares of Orchid Island Capital during the third quarter worth $3,036,000. Genesis Wealth Advisors LLC lifted its stake in shares of Orchid Island Capital by 49.7% in the third quarter. Genesis Wealth Advisors LLC now owns 19,180 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 6,364 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Orchid Island Capital by 159.2% in the third quarter. Global Retirement Partners LLC now owns 22,583 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 13,872 shares in the last quarter. Cibc World Market Inc. purchased a new position in shares of Orchid Island Capital in the third quarter worth about $107,000. Finally, Fulcrum Asset Management LLP boosted its position in Orchid Island Capital by 185.6% during the third quarter. Fulcrum Asset Management LLP now owns 86,710 shares of the real estate investment trust’s stock worth $500,000 after acquiring an additional 56,348 shares during the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

About Orchid Island Capital

Orchid Island Capital, Inc. is a mortgage real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio focuses on agency RMBS, whose principal and interest payments are guaranteed by U.S. government-sponsored enterprises or agencies, including Fannie Mae, Freddie Mac and Ginnie Mae. The company’s investments include mortgage pass-through securities and structured mortgage securities tied to U.S. residential loans. Orchid Island Capital seeks to generate income from its portfolio and finances its investments through borrowings, including repurchase agreements.