Orchid Island Capital (NYSE:ORC) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Orchid Island Capital (NYSE:ORCFree Report) to a sell rating in a research report sent to investors on Friday.

Orchid Island Capital Stock Up 0.4 %

ORC stock opened at $8.28 on Friday. The company has a market cap of $433.03 million, a price-to-earnings ratio of -10.09 and a beta of 1.81. The business has a fifty day simple moving average of $8.38 and a 200-day simple moving average of $8.36. Orchid Island Capital has a 52 week low of $5.90 and a 52 week high of $11.81.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be given a $0.12 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.44 dividend on an annualized basis and a yield of 17.40%. Orchid Island Capital’s payout ratio is currently -175.61%.

Hedge Funds Weigh In On Orchid Island Capital

Several large investors have recently modified their holdings of ORC. Strs Ohio increased its stake in shares of Orchid Island Capital by 15.5% in the second quarter. Strs Ohio now owns 8,200 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 1,100 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Orchid Island Capital by 12.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 12,600 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 1,420 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Orchid Island Capital by 5.0% during the second quarter. JPMorgan Chase & Co. now owns 30,792 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 1,467 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Orchid Island Capital by 11.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,558 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 1,556 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in Orchid Island Capital by 4.2% in the 2nd quarter. Penserra Capital Management LLC now owns 41,384 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 1,672 shares during the period. Institutional investors own 27.47% of the company’s stock.

About Orchid Island Capital

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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.

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