Orchid Island Capital (NYSE:ORC) Hits New 12-Month Low – Should You Sell?

Orchid Island Capital, Inc. (NYSE:ORC) reached a new 52-week low during trading on Monday . The stock traded as low as $7.36 and last traded at $7.55, with a volume of 918180 shares traded. The stock had previously closed at $7.54.

Analyst Ratings Changes

ORC has been the topic of a number of analyst reports. StockNews.com cut Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd.

Orchid Island Capital Trading Down 0.3 %

The business has a 50-day moving average price of $8.33 and a 200 day moving average price of $8.06. The stock has a market capitalization of $701.10 million, a P/E ratio of 12.53 and a beta of 1.90.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.08. On average, sell-side analysts predict that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Monday, March 31st will be given a dividend of $0.12 per share. The ex-dividend date is Monday, March 31st. This represents a $1.44 dividend on an annualized basis and a yield of 19.16%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 240.00%.

Hedge Funds Weigh In On Orchid Island Capital

Several large investors have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new position in Orchid Island Capital during the third quarter worth $121,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Orchid Island Capital by 274.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,220 shares of the real estate investment trust’s stock worth $4,819,000 after purchasing an additional 429,689 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Orchid Island Capital by 29.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 26,466 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 5,945 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Orchid Island Capital by 32.6% in the third quarter. MetLife Investment Management LLC now owns 40,851 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 10,032 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Orchid Island Capital during the third quarter valued at approximately $90,000. Institutional investors own 32.74% of the company’s stock.

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.