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

StockNews.com lowered shares of Orchid Island Capital (NYSE:ORC) from a hold rating to a sell rating in a research report sent to investors on Friday.

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

Orchid Island Capital Stock Performance

Shares of ORC opened at $8.47 on Friday. The company’s 50-day simple moving average is $8.22 and its 200-day simple moving average is $8.06. Orchid Island Capital has a 1 year low of $7.41 and a 1 year high of $9.08. The stock has a market capitalization of $789.73 million, a PE ratio of 14.11 and a beta of 1.90.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 year.

Orchid Island Capital Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 17.01%. Orchid Island Capital’s dividend payout ratio is currently 240.00%.

Institutional Investors Weigh In On Orchid Island Capital

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in shares of 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 worth $48,000 after purchasing an additional 1,522 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Orchid Island Capital by 73.3% during the 4th 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 last quarter. Millennium Management LLC boosted its position in shares of Orchid Island Capital by 1.1% during 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 in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Orchid Island Capital by 7.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 47,858 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 3,410 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Orchid Island Capital by 17.6% during 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 in the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

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.