Orchid Island Capital (ORC) Upgraded to Buy by ValuEngine

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.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 18.42%. Orchid Island Capital’s dividend payout ratio is currently -294.74%.

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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