Orchid Island Capital (NYSE:ORC) Rating Increased to Hold at StockNews.com

Orchid Island Capital (NYSE:ORC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

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

Orchid Island Capital Price Performance

Shares of NYSE ORC opened at $8.80 on Monday. 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 $820.52 million, a P/E ratio of 14.66 and a beta of 1.83. The company’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $8.03.

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

Hedge Funds Weigh In On Orchid Island Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of Orchid Island Capital by 3,379.3% in the 4th quarter. Invesco Ltd. now owns 2,354,065 shares of the real estate investment trust’s stock valued at $18,315,000 after buying an additional 2,286,405 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Orchid Island Capital in the third quarter valued at about $3,903,000. Vanguard Group Inc. increased its holdings in shares of Orchid Island Capital by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 4,238,780 shares of the real estate investment trust’s stock worth $32,978,000 after acquiring an additional 456,209 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Orchid Island Capital by 274.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,220 shares of the real estate investment trust’s stock worth $4,819,000 after purchasing an additional 429,689 shares during the period. Finally, Geode Capital Management LLC lifted 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 purchasing an additional 421,718 shares in the last quarter. 32.74% of the stock is owned by 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.