StockNews.com Downgrades Orchid Island Capital (NYSE:ORC) to Sell

StockNews.com lowered shares of Orchid Island Capital (NYSE:ORC) from a hold rating to a sell rating in a research note released on Thursday morning.

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

Orchid Island Capital Stock Down 3.6 %

NYSE ORC opened at $7.66 on Thursday. Orchid Island Capital has a twelve month low of $7.41 and a twelve month high of $9.01. The business’s fifty day moving average is $8.33 and its 200 day moving average is $8.06. The company has a market cap of $715.01 million, a price-to-earnings ratio of 12.77 and a beta of 1.90.

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, research analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Monday, March 31st will be given a $0.12 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 18.79%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 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. increased its position in Orchid Island Capital by 32.8% during the 4th quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,522 shares during the period. McIlrath & Eck LLC bought a new stake in shares of Orchid Island Capital in the 3rd quarter valued at $58,000. Tower Research Capital LLC TRC increased its position in shares of Orchid Island Capital by 73.3% during 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 buying an additional 3,012 shares during the period. Proficio Capital Partners LLC bought a new position in Orchid Island Capital during the fourth quarter worth $82,000. Finally, Mariner LLC acquired a new position in Orchid Island Capital in the fourth quarter valued at $82,000. 32.74% of the stock is 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.