Today, Orchid Island Capital Inc. (ORC) Lifted to Hold at Zacks Investment Research

Today, Orchid Island Capital Inc. (ORC) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Orchid Island Capital Inc. (NYSE:ORC) from a strong sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Orchid Island Capital, Inc. is a specialty finance company that invests in residential mortgage-backed securities the principal and interest payments of which are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity. The Company intends to qualify and will elect to be taxed as a REIT commencing with its taxable year ending December 31, 2013. Orchid Island Capital, Inc. is based in United States. “

ORC has been the topic of a number of other research reports. TheStreet upgraded Orchid Island Capital from a sell rating to a hold rating in a research note on Thursday, July 28th. National Securities reiterated a neutral rating and issued a $11.00 target price on shares of Orchid Island Capital in a research note on Thursday, July 28th.

Shares of Orchid Island Capital (NYSE:ORC) opened at 10.57 on Wednesday. Orchid Island Capital has a one year low of $7.50 and a one year high of $11.25. The firm has a market cap of $240.82 million, a PE ratio of 880.83 and a beta of 0.65. The firm’s 50-day moving average price is $10.44 and its 200-day moving average price is $10.50.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Wednesday, July 27th. The company reported $0.29 earnings per share for the quarter. Equities research analysts expect that Orchid Island Capital will post $0.13 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 27th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 15.89%. Orchid Island Capital’s dividend payout ratio is currently 8,400.00%.

Several institutional investors have recently made changes to their positions in ORC. Advisory Services Network LLC raised its position in shares of Orchid Island Capital by 268.6% in the third quarter. Advisory Services Network LLC now owns 17,729 shares of the company’s stock valued at $185,000 after buying an additional 12,919 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Orchid Island Capital by 36.6% in the second quarter. Parametric Portfolio Associates LLC now owns 25,563 shares of the company’s stock valued at $263,000 after buying an additional 6,849 shares in the last quarter. Menta Capital LLC raised its position in shares of Orchid Island Capital by 104.1% in the second quarter. Menta Capital LLC now owns 55,348 shares of the company’s stock valued at $570,000 after buying an additional 28,228 shares in the last quarter. State Street Corp raised its position in shares of Orchid Island Capital by 4.4% in the second quarter. State Street Corp now owns 412,144 shares of the company’s stock valued at $4,239,000 after buying an additional 17,355 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Orchid Island Capital by 9.7% in the second quarter. American International Group Inc. now owns 11,783 shares of the company’s stock valued at $121,000 after buying an additional 1,040 shares in the last quarter. Hedge funds and other institutional investors own 16.36% of the company’s stock.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc (Orchid) is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.

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