Shares of Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $6.56 and last traded at $6.5550, with a volume of 2106846 shares. The stock had previously closed at $6.65.
Wall Street Analyst Weigh In
Several brokerages recently commented on ORC. Wall Street Zen cut Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, May 5th. Weiss Ratings cut Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $7.50.
Read Our Latest Analysis on Orchid Island Capital
Orchid Island Capital Price Performance
Orchid Island Capital (NYSE:ORC – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of ($12.56) million for the quarter, compared to the consensus estimate of $33.03 million.
Orchid Island Capital Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.10 per share. This represents a c) annualized dividend and a dividend yield of 18.6%. The ex-dividend date is Friday, May 29th. Orchid Island Capital’s payout ratio is presently 160.00%.
Hedge Funds Weigh In On Orchid Island Capital
Several institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. grew its position in shares of Orchid Island Capital by 17.8% during the 2nd quarter. Prudential Financial Inc. now owns 13,189 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 1,995 shares during the period. Barclays PLC grew its position in shares of Orchid Island Capital by 1.0% during the 3rd quarter. Barclays PLC now owns 203,626 shares of the real estate investment trust’s stock worth $1,427,000 after buying an additional 2,016 shares during the period. CreativeOne Wealth LLC grew its position in shares of Orchid Island Capital by 11.8% during the 4th quarter. CreativeOne Wealth LLC now owns 19,248 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 2,025 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Orchid Island Capital by 64.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,502 shares during the period. Finally, Creative Planning grew its position in shares of Orchid Island Capital by 12.0% during the 3rd quarter. Creative Planning now owns 29,642 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 3,187 shares during the period. 32.74% of the stock is currently owned by institutional investors and hedge funds.
Orchid Island Capital Company Profile
Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.
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