Orchid Island Capital Inc (ORC) Given Consensus Recommendation of “Buy” by Brokerages

Orchid Island Capital Inc (NYSE:ORC) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.

Brokers have set a 1-year consensus price objective of $10.00 for the company, according to Zacks. Zacks has also assigned Orchid Island Capital an industry rank of 67 out of 265 based on the ratings given to its competitors.

ORC has been the subject of a number of research reports. ValuEngine raised shares of Orchid Island Capital from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Zacks Investment Research cut shares of Orchid Island Capital from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd.

Orchid Island Capital (ORC) traded down $0.33 during midday trading on Wednesday, reaching $8.74. 2,510,300 shares of the company’s stock traded hands, compared to its average volume of 1,365,833. Orchid Island Capital has a one year low of $8.73 and a one year high of $12.60. The firm has a market capitalization of $400.22, a P/E ratio of -15.33 and a beta of 0.49.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be issued a $0.14 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 19.22%. Orchid Island Capital’s payout ratio is -294.74%.

Several large investors have recently made changes to their positions in ORC. Quantbot Technologies LP purchased a new stake in shares of Orchid Island Capital in the second quarter valued at about $101,000. Sei Investments Co. purchased a new position in Orchid Island Capital during the third quarter worth about $124,000. Voya Investment Management LLC purchased a new position in Orchid Island Capital during the second quarter worth about $145,000. Raymond James Financial Services Advisors Inc. purchased a new position in Orchid Island Capital during the third quarter worth about $153,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Orchid Island Capital during the second quarter worth about $163,000. 27.14% of the stock is owned by institutional investors and hedge funds.

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Orchid Island Capital Company Profile

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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