Orchid Island Capital (NYSE:ORC) Lowered to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Orchid Island Capital (NYSE:ORC) from a hold rating to a sell rating in a research report sent to investors on Friday, 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. “

Separately, ValuEngine downgraded shares of Orchid Island Capital from a sell rating to a strong sell rating in a report on Thursday, August 1st.

Shares of NYSE ORC opened at $6.11 on Friday. The stock has a market capitalization of $342.19 million, a P/E ratio of 4.43 and a beta of 0.46. Orchid Island Capital has a 12 month low of $5.83 and a 12 month high of $8.14. The business’s 50-day moving average price is $6.46.

The company also recently declared a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 15.71%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 69.57%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Orchid Island Capital by 1,245.0% during the fourth quarter. Millennium Management LLC now owns 303,829 shares of the real estate investment trust’s stock worth $1,941,000 after buying an additional 281,240 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Orchid Island Capital by 0.3% during the fourth quarter. Northern Trust Corp now owns 592,412 shares of the real estate investment trust’s stock worth $3,785,000 after buying an additional 1,647 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Orchid Island Capital by 0.5% during the fourth quarter. BlackRock Inc. now owns 5,263,567 shares of the real estate investment trust’s stock worth $33,634,000 after buying an additional 26,030 shares in the last quarter. IndexIQ Advisors LLC grew its holdings in shares of Orchid Island Capital by 595.6% during the first quarter. IndexIQ Advisors LLC now owns 272,615 shares of the real estate investment trust’s stock worth $1,794,000 after buying an additional 233,423 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in shares of Orchid Island Capital during the fourth quarter worth about $86,000. Institutional investors and hedge funds own 29.24% of the company’s stock.

Orchid Island Capital Company Profile

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

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