Orchid Island Capital (NYSE:ORC) Stock Rating Reaffirmed by JMP Securities

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

Separately, StockNews.com raised Orchid Island Capital to a sell rating in a research note on Friday, February 9th.

Orchid Island Capital Stock Down 0.2 %

Shares of ORC opened at $8.15 on Thursday. The firm’s fifty day simple moving average is $8.55 and its two-hundred day simple moving average is $8.04. Orchid Island Capital has a 12 month low of $5.90 and a 12 month high of $11.27.

Orchid Island Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be given a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 17.68%. The ex-dividend date of this dividend is Monday, April 29th. Orchid Island Capital’s payout ratio is -175.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP bought a new position in shares of Orchid Island Capital in the 3rd quarter worth $4,648,000. Invesco Ltd. grew its holdings in shares of Orchid Island Capital by 33.6% during the third quarter. Invesco Ltd. now owns 2,073,998 shares of the real estate investment trust’s stock valued at $17,650,000 after buying an additional 521,401 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Orchid Island Capital by 2.6% during the third quarter. Vanguard Group Inc. now owns 2,120,928 shares of the real estate investment trust’s stock valued at $18,049,000 after buying an additional 53,652 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Orchid Island Capital during the third quarter worth about $516,000. Finally, Wolverine Asset Management LLC raised its holdings in shares of Orchid Island Capital by 299.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 914,125 shares of the real estate investment trust’s stock worth $7,779,000 after acquiring an additional 685,424 shares during the last quarter. Institutional investors 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.