Zacks Investment Research Downgrades Orchid Island Capital (NYSE:ORC) to Hold

Orchid Island Capital (NYSE:ORC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 2nd.

According to Zacks, “Orchid Island Capital, Inc. is a specialty finance company that invests in residential mortgage-backed securities the principal and interest payments of which are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity. The Company intends to qualify and will elect to be taxed as a REIT commencing with its taxable year ending December 31, 2013. Orchid Island Capital, Inc. is based in United States. “

Separately, ValuEngine downgraded shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $11.00.

Orchid Island Capital (ORC) opened at $7.87 on Tuesday. Orchid Island Capital has a one year low of $7.84 and a one year high of $12.60. The company has a market cap of $362.87, a PE ratio of -13.81 and a beta of 0.49.

A number of hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new position in Orchid Island Capital in the fourth quarter worth about $232,000. Allianz Asset Management GmbH raised its stake in Orchid Island Capital by 9.1% in the third quarter. Allianz Asset Management GmbH now owns 129,677 shares of the real estate investment trust’s stock worth $1,321,000 after buying an additional 10,845 shares in the last quarter. California State Teachers Retirement System raised its stake in Orchid Island Capital by 16.3% in the third quarter. California State Teachers Retirement System now owns 68,749 shares of the real estate investment trust’s stock worth $701,000 after buying an additional 9,630 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Orchid Island Capital by 60.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 79,659 shares of the real estate investment trust’s stock worth $812,000 after buying an additional 30,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Orchid Island Capital by 31.3% in the third quarter. Wells Fargo & Company MN now owns 44,576 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 10,637 shares in the last quarter. 27.14% of the stock is owned by institutional investors.

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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.

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