Orchid Island Capital (NYSE:ORC) Rating Lowered to "Strong Sell" at Wall Street Zen

Key Points

• Orchid Island Capital has been downgraded from a "hold" rating to a "strong sell" rating by Wall Street Zen in a recent research report.
• The company reported an earnings per share (EPS) of $0.16, surpassing analysts' expectations of $0.15, but revenue fell slightly short at $23.15 million.
• Institutional investors now hold approximately 32.74% of Orchid Island Capital's stock, with significant increases in holdings from firms like Ameriprise Financial.

Orchid Island Capital (NYSE:ORC - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "strong sell" rating in a research report issued on Saturday.

Separately, Jones Trading reaffirmed a "hold" rating on shares of Orchid Island Capital in a report on Wednesday, April 30th.

Orchid Island Capital Stock Performance

ORC stock traded down $0.05 during mid-day trading on Friday, hitting $7.29. 7,159,796 shares of the company were exchanged, compared to its average volume of 3,696,785. The firm has a market cap of $923.23 million, a P/E ratio of 36.43 and a beta of 1.49. The firm's 50 day simple moving average is $7.06 and its 200 day simple moving average is $7.48. Orchid Island Capital has a 1-year low of $5.68 and a 1-year high of $9.01.

Orchid Island Capital (NYSE:ORC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $23.15 million for the quarter, compared to the consensus estimate of $23.25 million. On average, equities research analysts predict that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Orchid Island Capital

A number of hedge funds and other institutional investors have recently modified their holdings of ORC. KLP Kapitalforvaltning AS acquired a new position in Orchid Island Capital in the second quarter valued at about $156,000. Global Assets Advisory LLC acquired a new position in Orchid Island Capital in the second quarter valued at about $189,000. BCS Wealth Management raised its stake in Orchid Island Capital by 90.9% in the second quarter. BCS Wealth Management now owns 25,421 shares of the real estate investment trust's stock valued at $178,000 after purchasing an additional 12,106 shares in the last quarter. Worth Asset Management LLC acquired a new position in Orchid Island Capital in the second quarter valued at about $80,000. Finally, Strs Ohio acquired a new position in Orchid Island Capital in the first quarter valued at about $111,000. Institutional investors and hedge funds own 32.74% of the company's stock.

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.