Orchid Island Capital (NYSE:ORC) Research Coverage Started at Janney Montgomery Scott

Janney Montgomery Scott began coverage on shares of Orchid Island Capital (NYSE:ORCFree Report) in a report released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $9.50 price target on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. JMP Securities reissued a market perform rating on shares of Orchid Island Capital in a research report on Thursday, April 18th. StockNews.com raised Orchid Island Capital to a sell rating in a research report on Friday, February 9th.

Get Our Latest Analysis on ORC

Orchid Island Capital Price Performance

Orchid Island Capital stock opened at $8.45 on Thursday. The stock has a market capitalization of $447.63 million, a PE ratio of -15.94 and a beta of 1.85. The business’s fifty day moving average is $8.52 and its 200 day moving average is $8.41. Orchid Island Capital has a one year low of $5.90 and a one year high of $11.27.

Orchid Island Capital (NYSE:ORCGet Free Report) last announced its earnings results on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). During the same period in the previous year, the firm earned ($0.24) earnings per share. As a group, sell-side analysts expect that Orchid Island Capital will post -0.36 EPS for the current fiscal year.

Orchid Island Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be given a dividend of $0.12 per share. The ex-dividend date is Friday, May 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.04%. Orchid Island Capital’s payout ratio is currently -271.70%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in shares of Orchid Island Capital during the 1st quarter valued at about $26,000. Russell Investments Group Ltd. lifted its position in shares of Orchid Island Capital by 310.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 2,446 shares in the last quarter. Parallel Advisors LLC raised its stake in Orchid Island Capital by 216.4% during the 4th quarter. Parallel Advisors LLC now owns 3,433 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 2,348 shares during the period. PNC Financial Services Group Inc. raised its stake in Orchid Island Capital by 1,054.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,062 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 3,710 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Orchid Island Capital by 272.6% during the 4th quarter. Quadrant Capital Group LLC now owns 4,229 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 3,094 shares during the period. 32.74% of the stock is owned by hedge funds and other institutional investors.

About Orchid Island Capital

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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.

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