Compass Point Begins Coverage on Orchid Island Capital (NYSE:ORC)

Equities researchers at Compass Point assumed coverage on shares of Orchid Island Capital (NYSE:ORC) in a report released on Monday, Marketbeat reports. The firm set a “hold” rating and a $7.50 price target on the real estate investment trust’s stock. Compass Point’s price target points to a potential upside of 1.19% from the stock’s previous close.

ORC has been the topic of several other research reports. Wall Street Zen upgraded shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Orchid Island Capital in a report on Monday. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $7.50.

Orchid Island Capital Stock Up 1.8%

Shares of NYSE:ORC traded up $0.13 on Monday, hitting $7.41. 1,377,239 shares of the company traded hands, compared to its average volume of 4,283,610. The stock has a 50 day simple moving average of $7.29 and a 200-day simple moving average of $7.16. The company has a market cap of $1.33 billion, a PE ratio of 15.13 and a beta of 1.66. Orchid Island Capital has a 52 week low of $5.68 and a 52 week high of $9.01.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $77.52 million for the quarter, compared to analysts’ expectations of $25.33 million. As a group, sell-side analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Orchid Island Capital

Several institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE grew its stake in Orchid Island Capital by 1,123.1% during the 1st quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 3,504 shares during the last quarter. Vanguard Group Inc. increased its holdings in Orchid Island Capital by 26.0% in the 1st quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust’s stock worth $40,165,000 after buying an additional 1,102,315 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Orchid Island Capital by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 716,584 shares of the real estate investment trust’s stock valued at $5,389,000 after acquiring an additional 52,929 shares during the period. Deutsche Bank AG boosted its holdings in shares of Orchid Island Capital by 46.7% in the 1st quarter. Deutsche Bank AG now owns 54,078 shares of the real estate investment trust’s stock valued at $407,000 after acquiring an additional 17,209 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Orchid Island Capital in the first quarter worth $949,000. 32.74% of the stock is currently owned by institutional investors and hedge funds.

About Orchid Island Capital

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.