Orchid Island Capital (NYSE:ORC) Now Covered by JMP Securities

JMP Securities started coverage on shares of Orchid Island Capital (NYSE:ORC) in a report released on Wednesday, Analyst Price Targets reports. The brokerage issued a market perform rating on the real estate investment trust’s stock.

Separately, Zacks Investment Research raised shares of Orchid Island Capital from a sell rating to a hold rating in a report on Tuesday, January 4th.

ORC opened at $4.22 on Wednesday. Orchid Island Capital has a twelve month low of $4.16 and a twelve month high of $6.22. The company has a 50-day simple moving average of $4.64 and a 200 day simple moving average of $4.90.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, October 28th. The real estate investment trust reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, analysts anticipate that Orchid Island Capital will post 0.96 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 27th. Investors of record on Friday, December 31st will be issued a $0.065 dividend. The ex-dividend date of this dividend is Thursday, December 30th. This represents a $0.78 dividend on an annualized basis and a yield of 18.48%. Orchid Island Capital’s dividend payout ratio (DPR) is presently -975.00%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Orchid Island Capital by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,599,717 shares of the real estate investment trust’s stock valued at $8,302,000 after buying an additional 176,977 shares during the last quarter. Morgan Stanley raised its holdings in Orchid Island Capital by 424.8% in the 2nd quarter. Morgan Stanley now owns 923,573 shares of the real estate investment trust’s stock valued at $4,794,000 after buying an additional 747,586 shares during the last quarter. Wagner Wealth Management LLC bought a new position in Orchid Island Capital in the 2nd quarter valued at approximately $51,000. Ground Swell Capital LLC bought a new position in Orchid Island Capital in the 2nd quarter valued at approximately $76,000. Finally, Bank of New York Mellon Corp raised its holdings in Orchid Island Capital by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 295,406 shares of the real estate investment trust’s stock valued at $1,532,000 after buying an additional 36,083 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc operates as a specialty finance company, which engages in investing in residential mortgage-backed securities (RMBS). Its portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS. The traditional pass-through Agency RMBS include mortgage pass through certificates and collateralized mortgage obligations.

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