Orchid Island Capital (NYSE:ORC) Raised to Hold at StockNews.com

Orchid Island Capital (NYSE:ORC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Separately, JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd.

Orchid Island Capital Stock Performance

Orchid Island Capital stock traded down $0.09 during trading hours on Monday, reaching $8.84. 3,346,038 shares of the company’s stock traded hands, compared to its average volume of 2,804,228. The firm has a market capitalization of $824.25 million, a price-to-earnings ratio of 14.73 and a beta of 1.83. Orchid Island Capital has a fifty-two week low of $7.41 and a fifty-two week high of $9.08. The firm’s 50 day moving average is $8.09 and its 200-day moving average is $8.03.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ORC. Invesco Ltd. raised its holdings in Orchid Island Capital by 3,379.3% in the fourth quarter. Invesco Ltd. now owns 2,354,065 shares of the real estate investment trust’s stock worth $18,315,000 after purchasing an additional 2,286,405 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Orchid Island Capital in the 3rd quarter valued at $3,903,000. Vanguard Group Inc. raised its stake in Orchid Island Capital by 12.1% during 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 buying an additional 456,209 shares during the period. Charles Schwab Investment Management Inc. raised its stake in 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 buying an additional 429,689 shares during the period. Finally, Geode Capital Management LLC lifted its holdings 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 worth $13,566,000 after acquiring an additional 421,718 shares in the last quarter. 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.