Orchid Island Capital (NYSE:ORC) Reaches New 52-Week Low - Time to Sell?

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

Analysts Set New Price Targets

ORC has been the topic of a number of research analyst reports. StockNews.com lowered Orchid Island Capital from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. JMP Securities reissued a "market perform" rating on shares of Orchid Island Capital in a report on Thursday, January 23rd.

Orchid Island Capital Stock Performance

The stock has a market cap of $667.52 million, a PE ratio of 11.93 and a beta of 1.90. The company's 50-day moving average price is $8.29 and its two-hundred day moving average price is $8.04.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.08. Equities research analysts forecast that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.

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Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 29th. Investors of record on Monday, March 31st will be issued 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 dividend yield of 20.13%. Orchid Island Capital's dividend payout ratio is 240.00%.

Institutional Trading of Orchid Island Capital

Several hedge funds and other institutional investors have recently bought and sold shares of ORC. Invesco Ltd. lifted its holdings in shares of Orchid Island Capital by 3,379.3% in the 4th quarter. Invesco Ltd. now owns 2,354,065 shares of the real estate investment trust's stock worth $18,315,000 after acquiring an additional 2,286,405 shares during the last quarter. Vanguard Group Inc. raised its position in Orchid Island Capital by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 4,238,780 shares of the real estate investment trust's stock worth $32,978,000 after purchasing an additional 456,209 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Orchid Island Capital by 274.5% in the third 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 last quarter. Geode Capital Management LLC boosted its position in Orchid Island Capital by 34.3% during the third quarter. Geode Capital Management LLC now owns 1,650,122 shares of the real estate investment trust's stock valued at $13,566,000 after buying an additional 421,718 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Orchid Island Capital by 79.0% during the fourth quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock valued at $6,972,000 after buying an additional 395,650 shares during the last quarter. Hedge funds and other 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.