Orchid Island Capital (NYSE:ORC) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Orchid Island Capital (NYSE:ORC) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

ORC has been the subject of a number of other reports. Compass Point started coverage on shares of Orchid Island Capital in a research report on Monday, December 15th. They set a “neutral” rating and a $7.50 price target for the company. Weiss Ratings upgraded shares of Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.50.

Orchid Island Capital Trading Down 1.6%

ORC opened at $6.88 on Friday. The stock has a market cap of $1.34 billion, a PE ratio of 6.61 and a beta of 1.67. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average of $7.55 and a 200-day moving average of $7.38. Orchid Island Capital has a 52 week low of $5.68 and a 52 week high of $8.40.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $124.78 million during the quarter, compared to analysts’ expectations of $35.74 million. Equities research analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 29th. Investors of record on Tuesday, March 31st will be paid a $0.12 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 20.9%. Orchid Island Capital’s payout ratio is presently 138.46%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ORC. Vanguard Group Inc. raised its holdings in Orchid Island Capital by 23.4% in the 4th quarter. Vanguard Group Inc. now owns 9,767,670 shares of the real estate investment trust’s stock worth $70,327,000 after acquiring an additional 1,850,221 shares during the last quarter. Millennium Management LLC boosted its stake in Orchid Island Capital by 153.6% during the 4th quarter. Millennium Management LLC now owns 3,051,892 shares of the real estate investment trust’s stock valued at $21,974,000 after purchasing an additional 1,848,531 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Orchid Island Capital during the 4th quarter valued at $7,859,000. Goldman Sachs Group Inc. increased its holdings in shares of Orchid Island Capital by 144.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,576,801 shares of the real estate investment trust’s stock worth $11,353,000 after purchasing an additional 930,868 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Orchid Island Capital by 170.0% in the third quarter. Two Sigma Investments LP now owns 1,282,514 shares of the real estate investment trust’s stock worth $8,990,000 after purchasing an additional 807,442 shares during the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.