Orchid Island Capital’s (ORC) Market Perform Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of Orchid Island Capital (NYSE:ORC) in a report released on Thursday morning,Benzinga reports.

Orchid Island Capital Trading Down 0.9 %

NYSE:ORC opened at $7.93 on Thursday. The company has a 50-day moving average price of $7.89 and a 200-day moving average price of $8.02. The stock has a market cap of $632.81 million, a price-to-earnings ratio of 7.55 and a beta of 1.82. Orchid Island Capital has a 12 month low of $7.41 and a 12 month high of $9.08.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). During the same quarter in the previous year, the business earned ($0.28) earnings per share. Equities analysts forecast that Orchid Island Capital will post -0.25 EPS for the current fiscal year.

Orchid Island Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, January 31st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.44 annualized dividend and a dividend yield of 18.17%. Orchid Island Capital’s dividend payout ratio is presently 137.14%.

Hedge Funds Weigh In On Orchid Island Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its position in shares of Orchid Island Capital by 2.1% in the 3rd quarter. Global Retirement Partners LLC now owns 63,109 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 1,305 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Orchid Island Capital by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 1,422 shares during the period. Nisa Investment Advisors LLC grew its holdings in Orchid Island Capital by 7.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 47,858 shares of the real estate investment trust’s stock worth $378,000 after purchasing an additional 3,410 shares during the period. SG Americas Securities LLC increased its stake in shares of Orchid Island Capital by 23.2% during the fourth quarter. SG Americas Securities LLC now owns 32,727 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 6,173 shares in the last quarter. Finally, McIlrath & Eck LLC purchased a new position in shares of Orchid Island Capital during the third quarter valued at approximately $58,000. Hedge funds and other institutional investors 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.