Orchid Island Capital (NYSE:ORC) Downgraded by Wall Street Zen to “Sell”

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

Separately, Weiss Ratings downgraded Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $7.50.

Orchid Island Capital Stock Down 0.1%

NYSE ORC opened at $7.04 on Friday. The business has a fifty day moving average price of $7.27 and a 200 day moving average price of $7.39. Orchid Island Capital has a one year low of $6.28 and a one year high of $8.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 509.34 and a current ratio of 509.34. The company has a market cap of $1.38 billion, a P/E ratio of 6.76 and a beta of 1.63.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $124.78 million during the quarter, compared to analyst estimates of $35.74 million. Research analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, April 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 17.1%. Orchid Island Capital’s dividend payout ratio (DPR) is 115.38%.

Institutional Trading of Orchid Island Capital

A number of hedge funds and other institutional investors have recently modified their holdings of ORC. Vanguard Group Inc. increased its stake in shares of Orchid Island Capital by 23.4% in the 4th quarter. Vanguard Group Inc. now owns 9,767,670 shares of the real estate investment trust’s stock worth $70,327,000 after acquiring an additional 1,850,221 shares during the last quarter. Millennium Management LLC increased its stake in shares of Orchid Island Capital by 153.6% in the 4th quarter. Millennium Management LLC now owns 3,051,892 shares of the real estate investment trust’s stock worth $21,974,000 after acquiring an additional 1,848,531 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Orchid Island Capital in the 4th quarter worth $7,859,000. Goldman Sachs Group Inc. increased its stake in shares of Orchid Island Capital by 144.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,576,801 shares of the real estate investment trust’s stock worth $11,353,000 after acquiring an additional 930,868 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Orchid Island Capital by 170.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,282,514 shares of the real estate investment trust’s stock worth $8,990,000 after acquiring an additional 807,442 shares during the last quarter. 32.74% of the stock is owned by institutional investors and hedge funds.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.