Orchid Island Capital (NYSE:ORC) Receives “Market Perform” Rating from JMP Securities

JMP Securities restated their market perform rating on shares of Orchid Island Capital (NYSE:ORC) in a report published on Thursday,Benzinga reports.

Orchid Island Capital Trading Up 0.7 %

Shares of NYSE ORC opened at $8.00 on Thursday. The firm has a fifty day simple moving average of $7.88 and a two-hundred day simple moving average of $8.02. Orchid Island Capital has a 12 month low of $7.41 and a 12 month high of $9.08. The firm has a market capitalization of $638.40 million, a PE ratio of 7.61 and a beta of 1.82.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). During the same quarter in the prior year, the company earned ($0.28) earnings per share. On average, sell-side analysts predict that Orchid Island Capital will post -0.25 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, January 31st will be paid a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 18.01%. The ex-dividend date of this dividend is Friday, January 31st. Orchid Island Capital’s payout ratio is presently 137.14%.

Institutional Investors Weigh In On Orchid Island Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in Orchid Island Capital during the second quarter valued at $134,000. The Manufacturers Life Insurance Company increased its stake in shares of Orchid Island Capital by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 1,422 shares in the last quarter. Cetera Investment Advisers lifted its position in Orchid Island Capital by 10.2% during the 2nd quarter. Cetera Investment Advisers now owns 183,678 shares of the real estate investment trust’s stock valued at $1,532,000 after acquiring an additional 17,029 shares during the period. Founders Financial Alliance LLC boosted its stake in Orchid Island Capital by 52.9% during the second quarter. Founders Financial Alliance LLC now owns 107,961 shares of the real estate investment trust’s stock worth $900,000 after acquiring an additional 37,366 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Orchid Island Capital in the third quarter worth about $218,000. 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.