Orchid Island Capital (NYSE:ORC) Posts Earnings Results, Beats Estimates By $0.01 EPS

Orchid Island Capital (NYSE:ORC) posted its earnings results on Thursday. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01, Zacks reports. The business had revenue of $109.23 million for the quarter, compared to the consensus estimate of $35.74 million.

Orchid Island Capital Stock Down 0.5%

Shares of Orchid Island Capital stock opened at $8.28 on Friday. The company’s fifty day simple moving average is $7.53 and its two-hundred day simple moving average is $7.31. Orchid Island Capital has a 12-month low of $5.68 and a 12-month high of $9.01. The firm has a market cap of $1.52 billion, a PE ratio of 16.89 and a beta of 1.67.

Orchid Island Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be paid a $0.12 dividend. This represents a c) annualized dividend and a dividend yield of 17.4%. The ex-dividend date of this dividend is Friday, January 30th. Orchid Island Capital’s payout ratio is presently 293.88%.

Institutional Trading of Orchid Island Capital

Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Orchid Island Capital during the second quarter worth about $55,000. BNP Paribas Financial Markets boosted its position in shares of Orchid Island Capital by 112.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,300 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 5,457 shares in the last quarter. US Bancorp DE grew its stake in shares of Orchid Island Capital by 49.2% in the 3rd quarter. US Bancorp DE now owns 10,260 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 3,382 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Orchid Island Capital in the 2nd quarter worth approximately $75,000. Finally, AQR Capital Management LLC bought a new position in Orchid Island Capital during the 1st quarter valued at approximately $84,000. Institutional investors own 32.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Compass Point assumed coverage on shares of Orchid Island Capital in a research note on Monday, December 15th. They issued a “neutral” rating and a $7.50 price target for the company. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Orchid Island Capital in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Orchid Island Capital presently has an average rating of “Reduce” and a consensus price target of $7.50.

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.