Orchid Island Capital (NYSE:ORC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Orchid Island Capital (NYSE:ORC) from a sell rating to a hold rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orchid Island Capital in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Orchid Island Capital presently has a consensus rating of “Reduce”.

Orchid Island Capital Stock Performance

Orchid Island Capital stock opened at $7.27 on Friday. The company’s fifty day moving average price is $7.19 and its 200 day moving average price is $7.11. Orchid Island Capital has a 1 year low of $5.68 and a 1 year high of $9.01. The stock has a market capitalization of $1.10 billion, a P/E ratio of 14.84 and a beta of 1.57.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $26.92 million for the quarter, compared to analyst estimates of $25.33 million. Sell-side analysts predict that Orchid Island Capital will post 0.37 EPS for the current year.

Orchid Island Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, October 31st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 19.8%. Orchid Island Capital’s payout ratio is presently 293.88%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. acquired a new position in Orchid Island Capital in the first quarter valued at about $647,000. Vanguard Group Inc. lifted its position in Orchid Island Capital by 26.0% in the first quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust’s stock valued at $40,165,000 after buying an additional 1,102,315 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Orchid Island Capital in the first quarter valued at about $92,000. Charles Schwab Investment Management Inc. lifted its position in Orchid Island Capital by 8.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 716,584 shares of the real estate investment trust’s stock valued at $5,389,000 after buying an additional 52,929 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in Orchid Island Capital in the first quarter valued at about $688,000. Institutional investors and hedge funds own 32.74% of the company’s stock.

Orchid Island Capital Company Profile

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.