JMP Securities Reaffirms “Market Perform” Rating for Orchid Island Capital (NYSE:ORC)

Orchid Island Capital (NYSE:ORC)‘s stock had its “market perform” rating reissued by equities research analysts at JMP Securities in a report issued on Thursday,Benzinga reports.

Orchid Island Capital Price Performance

Shares of Orchid Island Capital stock traded up $0.05 during trading on Thursday, hitting $7.99. The stock had a trading volume of 293,885 shares, compared to its average volume of 2,254,818. Orchid Island Capital has a 12 month low of $7.41 and a 12 month high of $9.08. The firm’s fifty day simple moving average is $7.88 and its 200-day simple moving average is $8.02. The stock has a market cap of $637.60 million, a PE ratio of 7.61 and a beta of 1.82.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). During the same quarter in the prior year, the company posted ($0.28) earnings per share. Analysts expect that Orchid Island Capital will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in Orchid Island Capital in the 2nd quarter worth about $134,000. The Manufacturers Life Insurance Company grew its stake in Orchid Island Capital by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 1,422 shares in the last quarter. Cetera Investment Advisers increased its holdings in Orchid Island Capital by 10.2% during the 2nd quarter. Cetera Investment Advisers now owns 183,678 shares of the real estate investment trust’s stock worth $1,532,000 after purchasing an additional 17,029 shares during the period. Founders Financial Alliance LLC raised its position in Orchid Island Capital by 52.9% during the 2nd quarter. Founders Financial Alliance LLC now owns 107,961 shares of the real estate investment trust’s stock valued at $900,000 after purchasing an additional 37,366 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Orchid Island Capital in the 3rd quarter worth $218,000. 32.74% of the stock is currently owned by institutional investors.

Orchid Island Capital Company Profile

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.