JMP Securities Reaffirms “Market Perform” Rating for Orchid Island Capital (NYSE:ORC)

Orchid Island Capital (NYSE:ORC)‘s stock had its “market perform” rating reissued by equities researchers at JMP Securities in a note issued to investors on Thursday,Benzinga reports.

Orchid Island Capital Price Performance

ORC opened at $7.93 on Thursday. The company has a market capitalization of $632.81 million, a PE ratio of 7.55 and a beta of 1.82. Orchid Island Capital has a fifty-two week low of $7.41 and a fifty-two week high of $9.08. The business has a 50-day moving average of $7.89 and a 200-day moving average of $8.02.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). During the same quarter in the prior year, the business posted ($0.28) EPS. On average, equities research analysts expect that Orchid Island Capital will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Orchid Island Capital

A number of institutional investors and hedge funds have recently made changes to their positions in ORC. Geode Capital Management LLC increased its holdings in shares of 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 valued at $13,566,000 after acquiring an additional 421,718 shares during the last quarter. State Street Corp boosted its position in Orchid Island Capital by 13.0% during 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 purchasing an additional 123,239 shares during the period. Van ECK Associates Corp grew its holdings in Orchid Island Capital by 39.6% during the third quarter. Van ECK Associates Corp now owns 695,131 shares of the real estate investment trust’s stock valued at $5,422,000 after purchasing an additional 197,052 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Orchid Island Capital by 274.5% in the third 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. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Orchid Island Capital in the third quarter worth $3,903,000. 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.