StockNews.com Upgrades Orchid Island Capital (NYSE:ORC) to “Hold”

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

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

Orchid Island Capital Stock Down 0.7 %

Shares of NYSE:ORC opened at $8.33 on Wednesday. The company has a market cap of $777.42 million, a price-to-earnings ratio of 13.89 and a beta of 1.90. 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 simple moving average is $8.29 and its 200-day simple moving average is $8.06.

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 analysts’ consensus estimates of ($0.03) by $0.08. On average, research analysts forecast that Orchid Island Capital will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.28%. Orchid Island Capital’s payout ratio is 240.00%.

Institutional Investors Weigh In On Orchid Island Capital

A number of institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in Orchid Island Capital by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,522 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Orchid Island Capital by 73.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 3,012 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in Orchid Island Capital in the 3rd quarter valued at about $58,000. Proficio Capital Partners LLC purchased a new position in Orchid Island Capital during the 4th quarter valued at about $82,000. Finally, Mariner LLC acquired a new position in Orchid Island Capital during the fourth quarter worth about $82,000. Institutional investors and hedge funds 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.