ValuEngine upgraded shares of Orchid Island Capital (NYSE:ORC) from a buy rating to a strong-buy rating in a report published on Saturday.

Separately, Zacks Investment Research upgraded Orchid Island Capital from a hold rating to a strong-buy rating and set a $11.00 price target for the company in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Orchid Island Capital presently has an average rating of Buy and a consensus price target of $11.00.

Shares of Orchid Island Capital (NYSE ORC) traded down $0.17 during mid-day trading on Friday, reaching $7.87. The company’s stock had a trading volume of 3,071,589 shares, compared to its average volume of 1,479,734. Orchid Island Capital has a 1-year low of $7.84 and a 1-year high of $12.60. The stock has a market cap of $405.86, a price-to-earnings ratio of -13.57 and a beta of 0.48.

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 9th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 16.77%. Orchid Island Capital’s payout ratio is -289.65%.

Several institutional investors have recently modified their holdings of the company. Advisory Services Network LLC grew its position in shares of Orchid Island Capital by 3.6% during the second quarter. Advisory Services Network LLC now owns 19,375 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 678 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of Orchid Island Capital by 8.1% during the second quarter. Nationwide Fund Advisors now owns 18,434 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 1,382 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Orchid Island Capital by 26.1% during the second quarter. The Manufacturers Life Insurance Company now owns 25,679 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 5,321 shares in the last quarter. Advisor Group Inc. grew its position in shares of Orchid Island Capital by 10.0% during the third quarter. Advisor Group Inc. now owns 75,612 shares of the real estate investment trust’s stock valued at $770,000 after purchasing an additional 6,872 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Orchid Island Capital by 23.7% during the second quarter. Rhumbline Advisers now owns 37,872 shares of the real estate investment trust’s stock valued at $373,000 after purchasing an additional 7,265 shares in the last quarter. Hedge funds and other institutional investors own 27.14% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Orchid Island Capital (ORC) Upgraded to Strong-Buy at ValuEngine” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another domain, it was stolen and republished in violation of U.S. and international copyright laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2018/01/14/orchid-island-capital-orc-upgraded-to-strong-buy-at-valuengine.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Stock Ratings for Orchid Island Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orchid Island Capital and related stocks with our FREE daily email newsletter.