Orchid Island Capital (NYSE:ORC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Other equities research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH lowered shares of Orchid Island Capital from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. ValuEngine upgraded shares of Orchid Island Capital from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st.
Shares of ORC opened at $6.61 on Wednesday. Orchid Island Capital has a 1-year low of $6.29 and a 1-year high of $9.96. The stock has a market cap of $343.46 million, a P/E ratio of 7.87 and a beta of 0.37.
Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Friday, October 26th. The real estate investment trust reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.42). On average, equities analysts forecast that Orchid Island Capital will post 1.44 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Orchid Island Capital during the 1st quarter valued at about $150,000. Voya Investment Management LLC lifted its holdings in Orchid Island Capital by 42.4% during the 2nd quarter. Voya Investment Management LLC now owns 20,914 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 6,231 shares in the last quarter. SG Americas Securities LLC bought a new stake in Orchid Island Capital during the 3rd quarter valued at about $153,000. Metropolitan Life Insurance Co. NY lifted its holdings in Orchid Island Capital by 57.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,090 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 8,029 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Orchid Island Capital during the 1st quarter valued at about $178,000. Institutional investors own 32.95% of the company’s stock.
About Orchid Island Capital
Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS are backed primarily by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS; and structured Agency RMBS, including collateralized mortgage obligations, interest only securities, inverse interest only securities, and principal only securities.
See Also: Exchange-Traded Funds (ETFs)
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