ValuEngine upgraded shares of Orchid Island Capital (NYSE:ORC) from a buy rating to a strong-buy rating in a report released on Saturday.
Separately, Zacks Investment Research upgraded 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 note on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Orchid Island Capital presently has an average rating of Buy and a consensus price target of $11.00.
Orchid Island Capital (NYSE:ORC) traded down $0.17 during trading hours on Friday, hitting $7.87. The stock had a trading volume of 3,071,589 shares, compared to its average volume of 1,479,734. The stock has a market cap of $405.86, a price-to-earnings ratio of -13.57 and a beta of 0.48. Orchid Island Capital has a 52-week low of $7.84 and a 52-week high of $12.60.
The firm also recently declared a monthly dividend, which will be paid on Friday, February 9th. Shareholders of record on Wednesday, January 31st will be paid a $0.11 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.32 dividend on an annualized basis and a yield of 16.77%. Orchid Island Capital’s payout ratio is presently -289.65%.
A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC increased its stake in Orchid Island Capital by 3.6% in the 2nd quarter. Advisory Services Network LLC now owns 19,375 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 678 shares in the last quarter. Nationwide Fund Advisors increased its stake in Orchid Island Capital by 8.1% in the 2nd quarter. Nationwide Fund Advisors now owns 18,434 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 1,382 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Orchid Island Capital by 26.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,679 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 5,321 shares in the last quarter. Advisor Group Inc. increased its stake in Orchid Island Capital by 10.0% in the 3rd quarter. Advisor Group Inc. now owns 75,612 shares of the real estate investment trust’s stock worth $770,000 after buying an additional 6,872 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Orchid Island Capital by 23.7% in the 2nd quarter. Rhumbline Advisers now owns 37,872 shares of the real estate investment trust’s stock worth $373,000 after buying an additional 7,265 shares in the last quarter. Institutional investors and hedge funds own 27.14% of the company’s stock.
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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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