Orchid Island Capital, Inc. (NYSE:ORC) has been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for 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.

Analysts have set a 1-year consensus price target of $10.00 for the company, according to Zacks. Zacks has also assigned Orchid Island Capital an industry rank of 123 out of 265 based on the ratings given to its competitors.

Several research analysts recently issued reports on the stock. BidaskClub raised shares of Orchid Island Capital from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. TheStreet cut shares of Orchid Island Capital from a “c” rating to a “d” rating in a report on Monday, July 31st. ValuEngine cut shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of Orchid Island Capital from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Thursday, November 2nd.

A number of institutional investors and hedge funds have recently modified their holdings of ORC. Wells Fargo & Company MN grew its position in Orchid Island Capital by 11.4% during the first quarter. Wells Fargo & Company MN now owns 21,183 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 2,176 shares during the period. Bank of New York Mellon Corp grew its position in Orchid Island Capital by 22.7% during the first quarter. Bank of New York Mellon Corp now owns 116,598 shares of the real estate investment trust’s stock worth $1,165,000 after buying an additional 21,558 shares during the period. American International Group Inc. grew its position in Orchid Island Capital by 58.1% during the first quarter. American International Group Inc. now owns 18,606 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 6,836 shares during the period. Alliancebernstein L.P. grew its position in Orchid Island Capital by 44.4% during the first quarter. Alliancebernstein L.P. now owns 19,200 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 5,900 shares during the period. Finally, Vanguard Group Inc. grew its position in Orchid Island Capital by 25.4% during the first quarter. Vanguard Group Inc. now owns 1,134,132 shares of the real estate investment trust’s stock worth $11,330,000 after buying an additional 229,968 shares during the period. Institutional investors own 23.20% of the company’s stock.

Orchid Island Capital (NYSE ORC) opened at $9.71 on Friday. Orchid Island Capital has a 1-year low of $9.18 and a 1-year high of $12.60.

The business also recently announced a monthly dividend, which will be paid on Friday, November 10th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.68 annualized dividend and a yield of 17.30%. Orchid Island Capital’s payout ratio is currently -289.65%.

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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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