Orchid Island Capital (NYSE:ORC) Stock Rating Lowered by Wall Street Zen

Orchid Island Capital (NYSE:ORC) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Separately, Weiss Ratings lowered shares of Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $7.50.

Orchid Island Capital Stock Up 0.4%

Shares of NYSE:ORC opened at $6.96 on Tuesday. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $7.16 and a 200 day simple moving average of $7.38. The firm has a market cap of $1.40 billion, a PE ratio of 9.27 and a beta of 1.57. Orchid Island Capital has a 12-month low of $6.62 and a 12-month high of $8.40.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of ($12.56) million during the quarter, compared to the consensus estimate of $33.03 million.

Hedge Funds Weigh In On Orchid Island Capital

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Orchid Island Capital by 23.4% in the fourth quarter. Vanguard Group Inc. now owns 9,767,670 shares of the real estate investment trust’s stock valued at $70,327,000 after acquiring an additional 1,850,221 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Orchid Island Capital by 3.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,953,916 shares of the real estate investment trust’s stock valued at $27,717,000 after purchasing an additional 149,251 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Orchid Island Capital by 25.6% during the fourth quarter. Geode Capital Management LLC now owns 3,903,240 shares of the real estate investment trust’s stock valued at $28,109,000 after purchasing an additional 795,210 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Orchid Island Capital by 10.3% during the third quarter. Invesco Ltd. now owns 3,165,436 shares of the real estate investment trust’s stock valued at $22,190,000 after purchasing an additional 294,547 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Orchid Island Capital by 18.8% during the fourth quarter. State Street Corp now owns 3,059,581 shares of the real estate investment trust’s stock valued at $22,394,000 after purchasing an additional 484,209 shares during the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.