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 published on Monday morning.

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

Orchid Island Capital Trading Up 0.6 %

Shares of ORC stock opened at $8.84 on Monday. The business’s 50-day moving average price is $8.14 and its 200-day moving average price is $8.04. Orchid Island Capital has a 12 month low of $7.41 and a 12 month high of $9.08. The firm has a market capitalization of $824.72 million, a price-to-earnings ratio of 14.73 and a beta of 1.83.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. On average, sell-side analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 16.29%. The ex-dividend date of this dividend is Friday, February 28th. Orchid Island Capital’s dividend payout ratio is currently 240.00%.

Hedge Funds Weigh In On Orchid Island Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in shares of Orchid Island Capital by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,522 shares during the period. McIlrath & Eck LLC acquired a new position in shares of Orchid Island Capital in the third quarter worth approximately $58,000. Tower Research Capital LLC TRC lifted its stake in shares of Orchid Island Capital by 73.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 3,012 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Orchid Island Capital in the fourth quarter worth approximately $82,000. Finally, Mariner LLC acquired a new position in shares of Orchid Island Capital in the fourth quarter worth approximately $82,000. 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.