Orchid Island Capital (NYSE:ORC) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Orchid Island Capital (NYSE:ORC) from a sell rating to a hold rating in a research note released on Wednesday.

Other analysts have also issued reports about the company. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd. Jones Trading reiterated a “hold” rating on shares of Orchid Island Capital in a research note on Wednesday, April 30th.

Orchid Island Capital Price Performance

ORC opened at $7.16 on Wednesday. The firm’s fifty day moving average price is $7.31 and its two-hundred day moving average price is $7.78. The company has a market capitalization of $763.78 million, a price-to-earnings ratio of 11.93 and a beta of 1.54. Orchid Island Capital has a 1 year low of $5.69 and a 1 year high of $9.01.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $19.71 million for the quarter, compared to analyst estimates of $11.96 million. As a group, equities analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 20.11%. Orchid Island Capital’s payout ratio is 360.00%.

Institutional Trading of Orchid Island Capital

Large investors have recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of Orchid Island Capital by 3,379.3% during 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 period. Vanguard Group Inc. lifted its holdings in Orchid Island Capital by 26.0% during the first quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust’s stock valued at $40,165,000 after purchasing an additional 1,102,315 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in 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 purchasing an additional 395,650 shares during the last quarter. Geode Capital Management LLC boosted its position in Orchid Island Capital by 10.7% during the fourth quarter. Geode Capital Management LLC now owns 1,827,479 shares of the real estate investment trust’s stock worth $14,221,000 after purchasing an additional 177,357 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Orchid Island Capital by 16.8% in the fourth quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust’s stock worth $5,310,000 after purchasing an additional 98,030 shares in the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

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.