Orchid Island Capital (NYSE:ORC) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Orchid Island Capital (NYSE:ORC) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

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

Orchid Island Capital Stock Down 0.3 %

ORC opened at $7.96 on Thursday. The company has a market cap of $742.15 million, a PE ratio of 13.26 and a beta of 1.90. Orchid Island Capital has a twelve month low of $7.41 and a twelve month high of $9.01. The company has a 50-day moving average price of $8.33 and a 200 day moving average price of $8.06.

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

Orchid Island Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 29th. Investors of record on Monday, March 31st will be issued a $0.12 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.44 annualized dividend and a dividend yield of 18.10%. Orchid Island Capital’s dividend payout ratio is presently 240.00%.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORC. State of Wyoming boosted its position in shares of Orchid Island Capital by 622.2% during the 4th quarter. State of Wyoming now owns 48,815 shares of the real estate investment trust’s stock valued at $380,000 after acquiring an additional 42,056 shares during the last quarter. ProShare Advisors LLC raised its stake in Orchid Island Capital by 63.8% during the fourth quarter. ProShare Advisors LLC now owns 22,162 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 8,633 shares during the period. Millennium Management LLC boosted its holdings in Orchid Island Capital by 1.1% in the 4th quarter. Millennium Management LLC now owns 309,480 shares of the real estate investment trust’s stock valued at $2,408,000 after purchasing an additional 3,354 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Orchid Island Capital by 17.6% in the 4th quarter. Deutsche Bank AG now owns 36,869 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 5,530 shares during the period. Finally, Centiva Capital LP increased its holdings in shares of Orchid Island Capital by 82.4% during the 4th quarter. Centiva Capital LP now owns 50,881 shares of the real estate investment trust’s stock worth $396,000 after buying an additional 22,987 shares during the last quarter. 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.