Orchid Island Capital (NYSE:ORC) Raised to “Hold” at StockNews.com

Orchid Island Capital (NYSE:ORC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

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

Orchid Island Capital Price Performance

Shares of NYSE ORC opened at $8.25 on Wednesday. Orchid Island Capital has a fifty-two week low of $7.41 and a fifty-two week high of $9.08. The firm has a market capitalization of $769.21 million, a P/E ratio of 13.74 and a beta of 1.90. The company’s 50 day simple moving average is $8.30 and its 200 day simple moving average is $8.06.

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

Institutional Trading of Orchid Island Capital

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Orchid Island Capital by 13.0% in the third quarter. State Street Corp now owns 1,073,495 shares of the real estate investment trust’s stock worth $8,952,000 after acquiring an additional 123,239 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Orchid Island Capital by 274.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,220 shares of the real estate investment trust’s stock valued at $4,819,000 after purchasing an additional 429,689 shares during the period. Barclays PLC increased its stake in Orchid Island Capital by 409.6% during the 3rd quarter. Barclays PLC now owns 94,005 shares of the real estate investment trust’s stock worth $773,000 after purchasing an additional 75,557 shares in the last quarter. Geode Capital Management LLC raised its holdings in Orchid Island Capital by 34.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,650,122 shares of the real estate investment trust’s stock worth $13,566,000 after buying an additional 421,718 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Orchid Island Capital in the fourth quarter valued at approximately $646,000. Institutional investors and hedge funds 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.