Shares of Orchid Island Capital, Inc. (NYSE:ORC) have been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.

Brokerages have set a twelve-month consensus target price of $10.00 for the company, according to Zacks. Zacks has also given Orchid Island Capital an industry rank of 123 out of 265 based on the ratings given to related companies.

A number of analysts have recently weighed in on ORC shares. BidaskClub downgraded shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a report on Friday, July 28th. TheStreet downgraded shares of Orchid Island Capital from a “c” rating to a “d” rating in a report on Monday, July 31st. ValuEngine downgraded shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Orchid Island Capital from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Thursday.

Orchid Island Capital (NYSE ORC) traded down $0.12 during trading on Friday, hitting $9.72. 1,100,000 shares of the stock were exchanged, compared to its average volume of 889,038. Orchid Island Capital has a 12-month low of $9.18 and a 12-month high of $12.60.

The firm also recently declared a monthly dividend, which will be paid on Friday, November 10th. Stockholders of record on Tuesday, October 31st will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 17.28%. Orchid Island Capital’s payout ratio is presently -289.65%.

WARNING: This article was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/11/04/zacks-orchid-island-capital-inc-orc-given-average-recommendation-of-buy-by-analysts.html.

Several institutional investors and hedge funds have recently made changes to their positions in ORC. Vanguard Group Inc. lifted its position in shares of Orchid Island Capital by 25.4% in the 1st quarter. Vanguard Group Inc. now owns 1,134,132 shares of the real estate investment trust’s stock worth $11,330,000 after purchasing an additional 229,968 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of Orchid Island Capital by 336.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 244,351 shares of the real estate investment trust’s stock worth $2,409,000 after purchasing an additional 188,316 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Orchid Island Capital in the 2nd quarter worth approximately $1,021,000. Geode Capital Management LLC lifted its position in shares of Orchid Island Capital by 71.7% in the 1st quarter. Geode Capital Management LLC now owns 240,370 shares of the real estate investment trust’s stock worth $2,401,000 after purchasing an additional 100,374 shares during the period. Finally, State Street Corp lifted its position in shares of Orchid Island Capital by 19.5% in the 2nd quarter. State Street Corp now owns 551,177 shares of the real estate investment trust’s stock worth $5,436,000 after purchasing an additional 90,106 shares during the period. 23.57% of the stock is owned by hedge funds and other institutional investors.

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.

Get a free copy of the Zacks research report on Orchid Island Capital (ORC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Orchid Island Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orchid Island Capital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.