Orchid Island Capital Inc. (NYSE:ORC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued 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. “

A number of other research firms have also recently commented on ORC. National Securities reiterated a “neutral” rating and set a $11.00 target price on shares of Orchid Island Capital in a research report on Thursday, July 28th. TheStreet upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th.

Shares of Orchid Island Capital (NYSE:ORC) opened at 10.05 on Wednesday. Orchid Island Capital has a 52 week low of $7.50 and a 52 week high of $11.25. The firm’s 50-day moving average is $10.48 and its 200-day moving average is $10.50. The firm has a market capitalization of $228.97 million, a P/E ratio of 837.50 and a beta of 0.65.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Equities analysts anticipate that Orchid Island Capital will post $0.13 EPS for the current year.

The company also recently announced a monthly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 28th were given a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.72%. The ex-dividend date of this dividend was Monday, September 26th. Orchid Island Capital’s dividend payout ratio (DPR) is currently 8,400.00%.

Several hedge funds have recently bought and sold shares of ORC. Advisory Services Network LLC boosted its stake in Orchid Island Capital by 268.6% in the third quarter. Advisory Services Network LLC now owns 17,729 shares of the company’s stock worth $185,000 after buying an additional 12,919 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Orchid Island Capital by 36.6% in the second quarter. Parametric Portfolio Associates LLC now owns 25,563 shares of the company’s stock valued at $263,000 after buying an additional 6,849 shares during the period. Menta Capital LLC boosted its position in shares of Orchid Island Capital by 104.1% in the second quarter. Menta Capital LLC now owns 55,348 shares of the company’s stock valued at $570,000 after buying an additional 28,228 shares during the period. State Street Corp boosted its position in shares of Orchid Island Capital by 4.4% in the second quarter. State Street Corp now owns 412,144 shares of the company’s stock valued at $4,239,000 after buying an additional 17,355 shares during the period. Finally, American International Group Inc. boosted its position in shares of Orchid Island Capital by 9.7% in the second quarter. American International Group Inc. now owns 11,783 shares of the company’s stock valued at $121,000 after buying an additional 1,040 shares during the period. Institutional investors and hedge funds own 16.32% of the company’s stock.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc (Orchid) is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide 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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