JMP Securities Begins Coverage on Orchid Island Capital (NYSE:ORC)

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

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

ORC stock opened at $4.22 on Wednesday. Orchid Island Capital has a 12 month low of $4.16 and a 12 month high of $6.22. The firm 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 released its earnings results on Thursday, October 28th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. During the same quarter in the previous year, the company posted $0.33 earnings per share. Equities analysts predict that Orchid Island Capital will post 0.96 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Thursday, January 27th. Investors of record on Friday, December 31st will be issued a dividend of $0.065 per share. This represents a $0.78 annualized dividend and a yield of 18.48%. The ex-dividend date is Thursday, December 30th. Orchid Island Capital’s dividend payout ratio is currently -975.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Orchid Island Capital by 19.3% in the 3rd quarter. BlackRock Inc. now owns 10,985,315 shares of the real estate investment trust’s stock valued at $53,719,000 after acquiring an additional 1,779,939 shares in the last quarter. Invesco Ltd. increased its position in Orchid Island Capital by 20.4% in the 3rd quarter. Invesco Ltd. now owns 5,600,192 shares of the real estate investment trust’s stock valued at $27,385,000 after acquiring an additional 950,478 shares in the last quarter. Vanguard Group Inc. increased its position in Orchid Island Capital by 12.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,006,280 shares of the real estate investment trust’s stock valued at $25,983,000 after acquiring an additional 567,356 shares in the last quarter. Geode Capital Management LLC increased its position in Orchid Island Capital by 20.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,928,964 shares of the real estate investment trust’s stock valued at $9,432,000 after acquiring an additional 329,247 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its position in Orchid Island Capital by 1,130.5% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,719,052 shares of the real estate investment trust’s stock valued at $8,406,000 after acquiring an additional 1,579,349 shares in the last quarter. Hedge funds and other institutional investors 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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