Orchid Island Capital (ORC) Lifted to “Strong-Buy” at ValuEngine

Orchid Island Capital (NYSE:ORC) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, January 13th.

Separately, Zacks Investment Research downgraded shares of Orchid Island Capital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $11.00.

Orchid Island Capital (NYSE ORC) traded up $0.04 during trading hours on Friday, reaching $7.89. 1,062,812 shares of the company’s stock were exchanged, compared to its average volume of 1,540,000. The stock has a market capitalization of $363.79, a P/E ratio of -13.84 and a beta of 0.49. Orchid Island Capital has a 12 month low of $7.79 and a 12 month high of $12.60.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. analysts forecast that Orchid Island Capital will post 2.01 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Orchid Island Capital by 41.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 193,021 shares of the real estate investment trust’s stock valued at $1,966,000 after acquiring an additional 56,682 shares during the period. Alliancebernstein L.P. raised its stake in shares of Orchid Island Capital by 152.1% in the 2nd quarter. Alliancebernstein L.P. now owns 48,400 shares of the real estate investment trust’s stock valued at $477,000 after acquiring an additional 29,200 shares during the period. Wells Fargo & Company MN raised its stake in shares of Orchid Island Capital by 60.2% in the 2nd quarter. Wells Fargo & Company MN now owns 33,939 shares of the real estate investment trust’s stock valued at $335,000 after acquiring an additional 12,756 shares during the period. Cetera Investment Advisers purchased a new position in shares of Orchid Island Capital in the 2nd quarter valued at $1,021,000. Finally, Sterling Capital Management LLC raised its stake in shares of Orchid Island Capital by 22.0% in the 2nd quarter. Sterling Capital Management LLC now owns 80,117 shares of the real estate investment trust’s stock valued at $790,000 after acquiring an additional 14,424 shares during the period. 27.14% of the stock is currently owned by institutional investors and hedge funds.

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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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