Wall Street Zen Downgrades Orchid Island Capital (NYSE:ORC) to Sell

Orchid Island Capital (NYSE:ORC) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently issued reports on ORC. Compass Point began coverage on shares of Orchid Island Capital in a report on Monday, December 15th. They set a “neutral” rating and a $7.50 price target on the stock. Weiss Ratings raised shares of Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.50.

Orchid Island Capital Stock Down 1.6%

ORC stock opened at $6.88 on Friday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 6.61 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 509.34 and a quick ratio of 509.34. Orchid Island Capital has a 1-year low of $5.68 and a 1-year high of $8.40. The business has a fifty day moving average price of $7.55 and a 200-day moving average price of $7.38.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $124.78 million for the quarter, compared to analysts’ expectations of $35.74 million. Equities analysts forecast that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in shares of Orchid Island Capital during the 3rd quarter valued at about $29,000. CWM LLC lifted its stake in shares of Orchid Island Capital by 123.1% in the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 2,502 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Orchid Island Capital by 64.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 2,502 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Orchid Island Capital by 32,505.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 6,501 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Orchid Island Capital in the second quarter worth approximately $55,000. 32.74% of the stock is owned by hedge funds and other institutional investors.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.