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

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

ORC traded up $0.05 during trading on Tuesday, reaching $5.63. 4,844 shares of the company’s stock were exchanged, compared to its average volume of 951,345. Orchid Island Capital has a fifty-two week low of $5.04 and a fifty-two week high of $7.65. The business has a 50 day moving average price of $5.99 and a 200 day moving average price of $6.41. The company has a market capitalization of $315.97 million, a P/E ratio of 4.09 and a beta of 0.48.

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 17.05%. Orchid Island Capital’s dividend payout ratio is currently 69.57%.

Several large investors have recently modified their holdings of the company. Advisor Group Inc. boosted its stake in shares of Orchid Island Capital by 2.0% in the 2nd quarter. Advisor Group Inc. now owns 83,684 shares of the real estate investment trust’s stock valued at $532,000 after purchasing an additional 1,632 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Orchid Island Capital by 3.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 56,177 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 2,102 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Orchid Island Capital by 332.6% in the 2nd quarter. Bank of Montreal Can now owns 5,645 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 4,340 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Orchid Island Capital by 2.9% in the 2nd quarter. Cetera Advisors LLC now owns 190,524 shares of the real estate investment trust’s stock valued at $1,212,000 after purchasing an additional 5,354 shares in the last quarter. Finally, NEXT Financial Group Inc acquired a new stake in shares of Orchid Island Capital in the 2nd quarter valued at $34,000. Institutional investors own 34.74% of the company’s stock.

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.

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