ValuEngine upgraded shares of Orchid Island Capital (NYSE:ORC) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.
Separately, Zacks Investment Research cut shares of Orchid Island Capital from a strong-buy rating to a hold rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Orchid Island Capital presently has a consensus rating of Buy and a consensus price target of $11.00.
Orchid Island Capital (NYSE ORC) traded up $0.08 on Wednesday, hitting $9.12. 798,700 shares of the company traded hands, compared to its average volume of 1,212,167. Orchid Island Capital has a twelve month low of $9.03 and a twelve month high of $12.60. The firm has a market capitalization of $418.89, a PE ratio of -16.00 and a beta of 0.49.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. increased its stake in shares of Orchid Island Capital by 152.1% in the second quarter. Alliancebernstein L.P. now owns 48,400 shares of the real estate investment trust’s stock worth $477,000 after buying an additional 29,200 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Orchid Island Capital by 60.2% during the second quarter. Wells Fargo & Company MN now owns 33,939 shares of the real estate investment trust’s stock valued at $335,000 after acquiring an additional 12,756 shares during the period. Cetera Investment Advisers acquired a new position in shares of Orchid Island Capital during the second quarter valued at $1,021,000. Sterling Capital Management LLC boosted its holdings in shares of Orchid Island Capital by 22.0% during the second quarter. Sterling Capital Management LLC now owns 80,117 shares of the real estate investment trust’s stock valued at $790,000 after acquiring an additional 14,424 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Orchid Island Capital by 336.1% during the second quarter. TIAA CREF Investment Management LLC now owns 244,351 shares of the real estate investment trust’s stock valued at $2,409,000 after acquiring an additional 188,316 shares during the period. Institutional investors own 27.14% of the company’s stock.
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Orchid Island Capital Company Profile
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive 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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