Zacks: Orchid Island Capital Inc (ORC) Given Consensus Rating of “Buy” by Analysts

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

Brokers have set a 1 year consensus price target of $10.00 for the company, according to Zacks. Zacks has also given Orchid Island Capital an industry rank of 198 out of 265 based on the ratings given to related companies.

Several research firms have recently issued reports on ORC. ValuEngine downgraded shares of Orchid Island Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of Orchid Island Capital from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd.

A number of large investors have recently modified their holdings of ORC. Van ECK Associates Corp acquired a new position in Orchid Island Capital in the 3rd quarter worth approximately $2,662,000. TIAA CREF Investment Management LLC increased its holdings in 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 buying an additional 188,316 shares during the period. Cetera Investment Advisers acquired a new position in Orchid Island Capital in the 2nd quarter worth approximately $1,021,000. State Street Corp increased its holdings in 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 buying an additional 90,106 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Orchid Island Capital by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,213,688 shares of the real estate investment trust’s stock worth $11,967,000 after buying an additional 79,556 shares during the period. Institutional investors own 26.42% of the company’s stock.

Orchid Island Capital (NYSE:ORC) opened at $7.30 on Thursday. Orchid Island Capital has a fifty-two week low of $6.92 and a fifty-two week high of $12.60. The stock has a market cap of $336.59, a PE ratio of -12.81 and a beta of 0.29.

The firm also recently declared a monthly dividend, which will be paid on Friday, February 9th. Investors of record on Wednesday, January 31st will be issued a $0.11 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.32 annualized dividend and a yield of 18.08%. Orchid Island Capital’s dividend payout ratio (DPR) is presently -231.58%.

WARNING: “Zacks: Orchid Island Capital Inc (ORC) Given Consensus Rating of “Buy” by Analysts” was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2018/02/08/zacks-orchid-island-capital-inc-orc-given-consensus-rating-of-buy-by-analysts.html.

About Orchid Island Capital

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

Leave a Reply