Zacks Investment Research upgraded shares of Orchid Island Capital (NYSE:ORC) from a sell rating to a hold rating in a research report report published on Tuesday.

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. “

A number of other equities research analysts have also issued reports on ORC. ValuEngine raised shares of Orchid Island Capital from a strong sell rating to a sell rating in a research note on Thursday, November 1st. LADENBURG THALM/SH SH lowered shares of Orchid Island Capital from a buy rating to a neutral rating in a research note on Friday, October 26th.

ORC opened at $6.61 on Tuesday. The company has a market cap of $341.90 million, a PE ratio of 7.87 and a beta of 0.37. Orchid Island Capital has a twelve month low of $6.29 and a twelve month high of $9.63.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Friday, October 26th. The real estate investment trust reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.42). On average, sell-side analysts forecast that Orchid Island Capital will post 1.44 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 14.52%. Orchid Island Capital’s payout ratio is currently 114.29%.

A number of large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its position in shares of Orchid Island Capital by 42.4% during the second quarter. Voya Investment Management LLC now owns 20,914 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 6,231 shares in the last quarter. Rhumbline Advisers increased its stake in Orchid Island Capital by 17.3% in the second quarter. Rhumbline Advisers now owns 50,944 shares of the real estate investment trust’s stock valued at $383,000 after purchasing an additional 7,530 shares in the last quarter. California Public Employees Retirement System increased its stake in Orchid Island Capital by 16.4% in the second quarter. California Public Employees Retirement System now owns 56,909 shares of the real estate investment trust’s stock valued at $428,000 after purchasing an additional 8,009 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Orchid Island Capital by 57.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,090 shares of the real estate investment trust’s stock valued at $166,000 after purchasing an additional 8,029 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Orchid Island Capital by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 202,006 shares of the real estate investment trust’s stock worth $1,519,000 after purchasing an additional 9,615 shares during the last quarter. Hedge funds and other institutional investors own 33.85% 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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