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

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Orchid Island Capital (NYSE:ORC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, 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 cut shares of Orchid Island Capital from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st.

Shares of ORC opened at $5.82 on Tuesday. The stock has a market capitalization of $326.80 million, a P/E ratio of 4.22 and a beta of 0.48. The firm’s fifty day simple moving average is $5.78 and its two-hundred day simple moving average is $6.34. Orchid Island Capital has a 12 month low of $5.04 and a 12 month high of $7.51.

A number of institutional investors and hedge funds have recently modified their holdings of ORC. Bank of America Corp DE boosted its position in Orchid Island Capital by 30.9% during the fourth quarter. Bank of America Corp DE now owns 39,393 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 9,304 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Orchid Island Capital by 388.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,134 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 8,059 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Orchid Island Capital during the 2nd quarter worth about $344,000. Nisa Investment Advisors LLC boosted its position in shares of Orchid Island Capital by 3.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 56,177 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 2,102 shares in the last quarter. Finally, NEXT Financial Group Inc bought a new position in shares of Orchid Island Capital during the 2nd quarter worth about $34,000. 34.74% of the stock is currently owned by institutional investors and hedge funds.

About Orchid Island Capital

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.

Further Reading: Growth and Income Funds

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