StockNews.com Upgrades Orchid Island Capital (NYSE:ORC) to Hold

Orchid Island Capital (NYSE:ORC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Other equities research analysts also recently issued reports about the company. Jones Trading reaffirmed a “hold” rating on shares of Orchid Island Capital in a report on Wednesday, April 30th. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd.

Orchid Island Capital Price Performance

Shares of NYSE:ORC opened at $7.18 on Friday. The firm’s 50-day moving average is $7.20 and its two-hundred day moving average is $7.75. Orchid Island Capital has a 1 year low of $5.69 and a 1 year high of $9.01. The firm has a market capitalization of $784.42 million, a PE ratio of 11.97 and a beta of 1.54.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $19.71 million for the quarter, compared to the consensus estimate of $11.96 million. Analysts expect that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Orchid Island Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PharVision Advisers LLC acquired a new stake in Orchid Island Capital in the first quarter valued at $157,000. Millennium Management LLC lifted its holdings in Orchid Island Capital by 234.9% in the first quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust’s stock valued at $7,794,000 after acquiring an additional 726,907 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Orchid Island Capital by 537.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,585,508 shares of the real estate investment trust’s stock valued at $26,963,000 after acquiring an additional 3,023,062 shares during the period. AQR Capital Management LLC acquired a new stake in Orchid Island Capital in the first quarter valued at $84,000. Finally, Quarry LP acquired a new stake in Orchid Island Capital in the first quarter valued at $50,000. Institutional investors and hedge funds own 32.74% of the company’s stock.

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.