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

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

Orchid Island Capital Stock Performance

NYSE:ORC opened at $7.93 on Thursday. The firm has a market cap of $632.81 million, a P/E ratio of 7.55 and a beta of 1.82. Orchid Island Capital has a fifty-two week low of $7.41 and a fifty-two week high of $9.08. The firm has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $8.02.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). During the same quarter in the prior year, the company posted ($0.28) EPS. On average, equities research analysts predict that Orchid Island Capital will post -0.25 EPS for the current year.

Orchid Island Capital Announces Dividend

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

Institutional Investors Weigh In On Orchid Island Capital

Large investors have recently bought and sold shares of the business. McIlrath & Eck LLC bought a new position in Orchid Island Capital during the 3rd quarter valued at about $58,000. Quadrature Capital Ltd purchased a new position in shares of Orchid Island Capital during the third quarter valued at approximately $90,000. Prairie Sky Financial Group LLC bought a new position in Orchid Island Capital during the third quarter valued at approximately $105,000. Intech Investment Management LLC purchased a new stake in Orchid Island Capital in the third quarter worth approximately $121,000. Finally, AQR Capital Management LLC bought a new stake in Orchid Island Capital in the 2nd quarter worth approximately $134,000. 32.74% of the stock is currently owned by institutional investors.

About Orchid Island Capital

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.