Orchid Island Capital (NYSE:ORC) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Orchid Island Capital (NYSE:ORC) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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 cut shares of Orchid Island Capital from a sell rating to a strong sell rating in a research report on Thursday, August 1st.

Shares of NYSE ORC opened at $6.09 on Wednesday. The company’s fifty day moving average is $6.40 and its 200-day moving average is $6.58. The stock has a market cap of $332.40 million, a price-to-earnings ratio of 4.41 and a beta of 0.46. Orchid Island Capital has a twelve month low of $5.83 and a twelve month high of $8.05.

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 15.76%. Orchid Island Capital’s payout ratio is 69.57%.

Several large investors have recently modified their holdings of ORC. Bank of New York Mellon Corp lifted its stake in shares of Orchid Island Capital by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 204,780 shares of the real estate investment trust’s stock worth $1,308,000 after purchasing an additional 3,062 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Orchid Island Capital by 0.3% during the fourth quarter. Northern Trust Corp now owns 592,412 shares of the real estate investment trust’s stock worth $3,785,000 after purchasing an additional 1,647 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Orchid Island Capital by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 568,773 shares of the real estate investment trust’s stock worth $3,634,000 after purchasing an additional 31,436 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Orchid Island Capital during the fourth quarter worth about $86,000. Finally, Bank of America Corp DE lifted its stake in shares of Orchid Island Capital by 30.9% during the fourth quarter. Bank of America Corp DE now owns 39,393 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 9,304 shares in the last quarter. Institutional investors and hedge funds own 29.47% 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.

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