Orchid Island Capital (NYSE:ORC) Given “Market Perform” Rating at JMP Securities

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

Separately, Janney Montgomery Scott initiated coverage on Orchid Island Capital in a report on Thursday, June 6th. They set a buy rating and a $9.50 target price for the company.

Orchid Island Capital Price Performance

Shares of Orchid Island Capital stock opened at $8.28 on Wednesday. The business has a 50 day simple moving average of $8.29 and a two-hundred day simple moving average of $8.45. Orchid Island Capital has a 12 month low of $5.90 and a 12 month high of $9.88. The stock has a market capitalization of $438.36 million, a P/E ratio of -15.61 and a beta of 1.86.

Orchid Island Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.44 annualized dividend and a dividend yield of 17.40%. Orchid Island Capital’s dividend payout ratio is presently -271.70%.

Institutional Investors Weigh In On Orchid Island Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio increased its stake in Orchid Island Capital by 15.1% during the fourth quarter. Strs Ohio now owns 10,700 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 1,400 shares during the last quarter. Truist Financial Corp acquired a new stake in Orchid Island Capital during the fourth quarter worth $327,000. Russell Investments Group Ltd. increased its stake in Orchid Island Capital by 310.0% during the fourth quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,446 shares during the last quarter. Van ECK Associates Corp increased its stake in Orchid Island Capital by 12.6% during the fourth quarter. Van ECK Associates Corp now owns 403,659 shares of the real estate investment trust’s stock worth $3,403,000 after acquiring an additional 45,279 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new stake in Orchid Island Capital during the fourth quarter worth $41,000. Institutional investors and hedge funds own 32.74% of the company’s stock.

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.