Orchid Island Capital (NYSE:ORC) Stock Rating Upgraded by StockNews.com

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

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

Orchid Island Capital Stock Performance

Orchid Island Capital stock opened at $8.23 on Wednesday. The firm’s fifty day moving average price is $8.31 and its 200-day moving average price is $8.06. The stock has a market cap of $767.34 million, a P/E ratio of 13.71 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.

Orchid Island Capital (NYSE:ORC) last posted 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. On average, analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 29th. Investors of record on Monday, March 31st will be issued a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a dividend yield of 17.51%. The ex-dividend date of this dividend is Monday, March 31st. Orchid Island Capital’s dividend payout ratio is currently 240.00%.

Institutional Investors Weigh In On Orchid Island Capital

A number of large investors have recently added to or reduced their stakes in the company. State of Wyoming grew its holdings in Orchid Island Capital by 622.2% in the 4th quarter. State of Wyoming now owns 48,815 shares of the real estate investment trust’s stock worth $380,000 after acquiring an additional 42,056 shares during the last quarter. ProShare Advisors LLC grew its holdings in Orchid Island Capital by 63.8% in the 4th quarter. ProShare Advisors LLC now owns 22,162 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 8,633 shares during the last quarter. Millennium Management LLC grew its holdings in Orchid Island Capital by 1.1% in the 4th quarter. Millennium Management LLC now owns 309,480 shares of the real estate investment trust’s stock worth $2,408,000 after acquiring an additional 3,354 shares during the last quarter. Deutsche Bank AG grew its holdings in Orchid Island Capital by 17.6% in the 4th quarter. Deutsche Bank AG now owns 36,869 shares of the real estate investment trust’s stock worth $287,000 after acquiring an additional 5,530 shares during the last quarter. Finally, Centiva Capital LP grew its holdings 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 worth $396,000 after acquiring an additional 22,987 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.