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

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

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

Orchid Island Capital Stock Performance

ORC opened at $8.33 on Wednesday. Orchid Island Capital has a one year low of $7.41 and a one year high of $9.08. The company has a market cap of $777.42 million, a P/E ratio of 13.89 and a beta of 1.90. The business’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 results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. As a group, analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 17.28%. The ex-dividend date is Friday, February 28th. Orchid Island Capital’s payout ratio is currently 240.00%.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors have recently modified their holdings of ORC. State of Wyoming grew its position in Orchid Island Capital by 622.2% during the 4th quarter. State of Wyoming now owns 48,815 shares of the real estate investment trust’s stock worth $380,000 after purchasing an additional 42,056 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Orchid Island Capital by 63.8% during the fourth quarter. ProShare Advisors LLC now owns 22,162 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 8,633 shares during the period. Millennium Management LLC grew its holdings in shares of Orchid Island Capital by 1.1% during the fourth quarter. Millennium Management LLC now owns 309,480 shares of the real estate investment trust’s stock worth $2,408,000 after buying an additional 3,354 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Orchid Island Capital by 17.6% during the fourth quarter. Deutsche Bank AG now owns 36,869 shares of the real estate investment trust’s stock worth $287,000 after buying an additional 5,530 shares during the last quarter. Finally, Centiva Capital LP increased its position in Orchid Island Capital by 82.4% in the 4th quarter. Centiva Capital LP now owns 50,881 shares of the real estate investment trust’s stock valued at $396,000 after acquiring an additional 22,987 shares during the period. 32.74% of the stock is owned by institutional investors and hedge funds.

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.