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

Orchid Island Capital (NYSE:ORCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, 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. “

Several other brokerages have also issued reports on ORC. JMP Securities started coverage on shares of Orchid Island Capital in a research note on Wednesday, January 12th. They set a “market perform” rating for the company. Jonestrading lowered shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. Finally, StockNews.com started coverage on shares of Orchid Island Capital in a research note on Thursday, March 31st. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.25.

Shares of ORC stock opened at $2.92 on Tuesday. The company has a 50 day moving average of $3.19 and a 200-day moving average of $4.03. Orchid Island Capital has a 12-month low of $2.61 and a 12-month high of $5.86. The firm has a market cap of $517.18 million, a P/E ratio of -2.70 and a beta of 1.34.

A number of institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its stake in Orchid Island Capital by 21.0% in the 3rd quarter. Amalgamated Bank now owns 16,116 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 2,796 shares in the last quarter. Strs Ohio boosted its holdings in Orchid Island Capital by 11.2% in the 4th quarter. Strs Ohio now owns 31,700 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 3,200 shares during the period. Victory Capital Management Inc. boosted its holdings in Orchid Island Capital by 25.1% in the 3rd quarter. Victory Capital Management Inc. now owns 17,279 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 3,469 shares during the period. Wagner Wealth Management LLC boosted its holdings in Orchid Island Capital by 41.0% in the 3rd quarter. Wagner Wealth Management LLC now owns 13,893 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 4,041 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Orchid Island Capital by 6.3% in the 4th quarter. Bank of America Corp DE now owns 94,331 shares of the real estate investment trust’s stock valued at $424,000 after purchasing an additional 5,599 shares during the period. Institutional investors and hedge funds own 21.81% of the company’s stock.

Orchid Island Capital Company Profile (Get Rating)

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.

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