Orchid Island Capital (NYSE:ORC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Orchid Island Capital (NYSE:ORC) from a hold rating to a sell rating in a research report report published on Tuesday 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 Orchid Island Capital from a sell rating to a strong sell rating in a research note on Thursday, August 1st.

ORC opened at $5.66 on Tuesday. Orchid Island Capital has a 52-week low of $5.04 and a 52-week high of $7.55. The stock has a market capitalization of $316.15 million, a PE ratio of 4.10 and a beta of 0.48. The stock’s 50 day moving average price is $5.83 and its 200-day moving average price is $6.37.

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 16.96%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 69.57%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Orchid Island Capital by 3.3% during the second quarter. BlackRock Inc. now owns 5,124,821 shares of the real estate investment trust’s stock valued at $32,593,000 after buying an additional 165,309 shares during the period. Vanguard Group Inc. increased its stake in shares of Orchid Island Capital by 72.1% during the second quarter. Vanguard Group Inc. now owns 4,181,602 shares of the real estate investment trust’s stock valued at $26,595,000 after buying an additional 1,752,460 shares during the period. Invesco Ltd. increased its stake in shares of Orchid Island Capital by 1.0% during the second quarter. Invesco Ltd. now owns 2,295,658 shares of the real estate investment trust’s stock valued at $14,600,000 after buying an additional 22,413 shares during the period. Northern Trust Corp increased its stake in shares of Orchid Island Capital by 207.1% during the second quarter. Northern Trust Corp now owns 1,684,121 shares of the real estate investment trust’s stock valued at $10,711,000 after buying an additional 1,135,781 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Orchid Island Capital by 51.0% during the second quarter. Renaissance Technologies LLC now owns 1,180,797 shares of the real estate investment trust’s stock valued at $7,510,000 after buying an additional 398,797 shares during the period. 34.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Return on Investment (ROI)

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