Orchid Island Capital (ORC) Raised to “Hold” at Zacks Investment Research

Orchid Island Capital (NYSE:ORC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

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. “

Several other analysts have also issued reports on the company. ValuEngine raised Orchid Island Capital from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. LADENBURG THALM/SH SH lowered Orchid Island Capital from a “buy” rating to a “neutral” rating in a report on Friday, October 26th.

ORC opened at $6.74 on Tuesday. The firm has a market cap of $352.30 million, a PE ratio of 8.02 and a beta of 0.37. Orchid Island Capital has a 52-week low of $6.29 and a 52-week high of $9.64.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Friday, October 26th. The real estate investment trust reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.42). Research analysts anticipate that Orchid Island Capital will post 1.44 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Orchid Island Capital during the 3rd quarter worth $103,000. Voya Investment Management LLC lifted its position in shares of Orchid Island Capital by 42.4% during the 2nd quarter. Voya Investment Management LLC now owns 20,914 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 6,231 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Orchid Island Capital during the 3rd quarter worth $153,000. Metropolitan Life Insurance Co. NY lifted its position in shares of Orchid Island Capital by 57.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,090 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 8,029 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Orchid Island Capital during the 3rd quarter worth $191,000. Institutional investors and hedge funds own 33.85% of the company’s stock.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS are backed primarily by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS; and structured Agency RMBS, including collateralized mortgage obligations, interest only securities, inverse interest only securities, and principal only securities.

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