Orchid Island Capital Inc. (ORC) Receives Average Recommendation of “Strong Buy” from Brokerages
Orchid Island Capital Inc. (NYSE:ORC) has been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus price target of $11.00 for the company, according to Zacks. Zacks has also assigned Orchid Island Capital an industry rank of 75 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently issued reports on ORC. Zacks Investment Research lowered Orchid Island Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. TheStreet raised Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, National Securities reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Orchid Island Capital in a research note on Thursday, July 28th.
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Several hedge funds have recently modified their holdings of ORC. American International Group Inc. increased 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 worth $121,000 after buying an additional 1,040 shares during the last quarter. Advisory Services Network LLC increased 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 worth $185,000 after buying an additional 12,919 shares during the last quarter. Parametric Portfolio Associates LLC increased 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 worth $263,000 after buying an additional 6,849 shares during the last quarter. Commonwealth Equity Services Inc bought a new position in shares of Orchid Island Capital during the second quarter worth approximately $285,000. Finally, California Public Employees Retirement System increased its position in shares of Orchid Island Capital by 41.3% in the second quarter. California Public Employees Retirement System now owns 48,900 shares of the company’s stock worth $503,000 after buying an additional 14,300 shares during the last quarter. 16.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Orchid Island Capital (NYSE:ORC) remained flat at $10.68 during trading on Tuesday. 146,101 shares of the company’s stock were exchanged. Orchid Island Capital has a 12-month low of $7.50 and a 12-month high of $11.25. The company has a market cap of $243.32 million, a P/E ratio of 890.00 and a beta of 0.65. The company’s 50-day moving average is $10.45 and its 200 day moving average is $10.50.
Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.29 EPS for the quarter. Equities analysts anticipate that Orchid Island Capital will post $0.13 earnings per share for the current 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 $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 15.73%. The ex-dividend date of this dividend is Tuesday, October 25th. Orchid Island Capital’s dividend payout ratio is presently 8,400.00%.
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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