Orchid Island Capital (NYSE:ORC) Cut 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 stock analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday.

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

Orchid Island Capital Stock Up 1.4%

Orchid Island Capital stock opened at $7.40 on Friday. Orchid Island Capital has a 52-week low of $5.68 and a 52-week high of $9.01. The firm has a market capitalization of $938.16 million, a price-to-earnings ratio of 37.02 and a beta of 1.49. The company has a fifty day simple moving average of $7.06 and a 200-day simple moving average of $7.48.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Orchid Island Capital during the 1st quarter valued at about $647,000. Ameriprise Financial Inc. lifted its position in Orchid Island Capital by 79.0% in the fourth quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock valued at $6,972,000 after buying an additional 395,650 shares during the last quarter. Northern Trust Corp lifted its position in Orchid Island Capital by 16.8% in the fourth quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust's stock valued at $5,310,000 after buying an additional 98,030 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Orchid Island Capital in the first quarter valued at about $92,000. Finally, Geode Capital Management LLC lifted its position in Orchid Island Capital by 10.7% in the fourth quarter. Geode Capital Management LLC now owns 1,827,479 shares of the real estate investment trust's stock valued at $14,221,000 after buying an additional 177,357 shares during the last quarter. 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.

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