Zacks: Orchid Island Capital Inc (ORC) Given $10.00 Consensus Target Price by Analysts
Shares of Orchid Island Capital Inc (NYSE:ORC) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.
Analysts have set a 12-month consensus price objective of $10.00 for the company, according to Zacks. Zacks has also assigned Orchid Island Capital an industry rank of 93 out of 265 based on the ratings given to related companies.
ORC has been the subject of a number of research analyst reports. BidaskClub raised shares of Orchid Island Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine downgraded shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of Orchid Island Capital from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research report on Thursday, November 2nd.
The firm also recently declared a monthly dividend, which was paid on Friday, December 8th. Stockholders of record on Thursday, November 30th were paid a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a dividend yield of 17.57%. The ex-dividend date of this dividend was Wednesday, November 29th. Orchid Island Capital’s dividend payout ratio is presently -289.65%.
Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of Orchid Island Capital during the 2nd quarter worth $101,000. Sei Investments Co. purchased a new position in shares of Orchid Island Capital during the 3rd quarter worth $124,000. Bank of America Corp DE boosted its stake in shares of Orchid Island Capital by 151.7% during the 1st quarter. Bank of America Corp DE now owns 13,067 shares of the real estate investment trust’s stock worth $130,000 after acquiring an additional 7,875 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of Orchid Island Capital during the 2nd quarter worth $134,000. Finally, Voya Investment Management LLC purchased a new position in shares of Orchid Island Capital during the 2nd quarter worth $145,000. Institutional investors and hedge funds own 30.37% 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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