Orchid Island Capital (NYSE:ORC) Coverage Initiated by Analysts at Janney Montgomery Scott

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

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

View Our Latest Research Report on ORC

Orchid Island Capital Stock Performance

Shares of Orchid Island Capital stock opened at $8.45 on Thursday. Orchid Island Capital has a 52-week low of $5.90 and a 52-week high of $11.27. The stock’s 50-day simple moving average is $8.52 and its 200 day simple moving average is $8.41. The stock has a market capitalization of $447.63 million, a P/E ratio of -15.94 and a beta of 1.85.

Orchid Island Capital (NYSE:ORCGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). During the same period in the prior year, the firm earned ($0.24) earnings per share. Equities research analysts forecast that Orchid Island Capital will post -0.36 EPS for the current fiscal year.

Orchid Island Capital Announces Dividend

The business also recently declared 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. This represents a $1.44 annualized dividend and a dividend yield of 17.04%. The ex-dividend date of this dividend is Friday, May 31st. Orchid Island Capital’s dividend payout ratio is presently -271.70%.

Institutional Investors Weigh In On Orchid Island Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Advisors LLC increased its position in shares of Orchid Island Capital by 5.2% during the first quarter. Cetera Advisors LLC now owns 165,369 shares of the real estate investment trust’s stock valued at $1,477,000 after buying an additional 8,115 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Orchid Island Capital by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,909 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 1,642 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of Orchid Island Capital by 101.8% in the first quarter. EntryPoint Capital LLC now owns 11,808 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 5,958 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Orchid Island Capital in the first quarter worth approximately $152,000. Finally, Significant Wealth Partners LLC increased its position in shares of Orchid Island Capital by 266.8% in the first quarter. Significant Wealth Partners LLC now owns 459,194 shares of the real estate investment trust’s stock worth $4,101,000 after purchasing an additional 334,002 shares during the last quarter. 32.74% of the stock is currently owned by institutional investors.

Orchid Island Capital Company Profile

(Get Free Report)

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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