Orchid Island Capital (NYSE:ORC) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Orchid Island Capital (NYSE:ORC) from a sell rating to a hold rating in a research report released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orchid Island Capital in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Orchid Island Capital has an average rating of “Reduce”.

Orchid Island Capital Price Performance

Shares of ORC opened at $7.26 on Friday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.81 and a beta of 1.53. Orchid Island Capital has a 1 year low of $5.68 and a 1 year high of $9.01. The business’s 50 day simple moving average is $7.19 and its 200-day simple moving average is $7.10.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $26.92 million for the quarter, compared to analysts’ expectations of $25.33 million. On average, sell-side analysts expect that Orchid Island Capital will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, October 31st will be given a $0.12 dividend. This represents a c) annualized dividend and a yield of 19.8%. The ex-dividend date of this dividend is Friday, October 31st. Orchid Island Capital’s dividend payout ratio is 293.88%.

Hedge Funds Weigh In On Orchid Island Capital

Several hedge funds have recently bought and sold shares of ORC. Rogco LP bought a new position in Orchid Island Capital in the 1st quarter valued at $28,000. Bogart Wealth LLC grew its position in Orchid Island Capital by 64.2% in the 2nd quarter. Bogart Wealth LLC now owns 3,940 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 1,540 shares during the last quarter. US Bancorp DE grew its position in Orchid Island Capital by 1,123.1% in the 1st quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 3,504 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Orchid Island Capital in the 3rd quarter valued at $29,000. Finally, CWM LLC grew its position in Orchid Island Capital by 123.1% in the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 2,502 shares during the last quarter. 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.