Orchid Island Capital (NYSE:ORC) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Orchid Island Capital (NYSE:ORC) from a "hold" to a sell, and Weiss Ratings also cut its rating to sell; the stock's consensus is now "Reduce" with an average price target of $7.50.
• Shares opened at $7.04 (up about 3.5%), the company has a market cap of $1.38 billion, a P/E of 6.76, and a 12‑month trading range of $6.28–$8.40.
• Orchid Island is a REIT focused on Ginnie Mae RMBS and recently reported quarterly EPS of $0.19 (beating estimates), with analysts projecting about $0.37 EPS for the current year.

Orchid Island Capital (NYSE:ORC - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings downgraded shares of Orchid Island Capital from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 6th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $7.50.

Orchid Island Capital Stock Up 3.5%

Shares of NYSE:ORC opened at $7.04 on Friday. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.09. Orchid Island Capital has a 12 month low of $6.28 and a 12 month high of $8.40. The company has a 50-day moving average price of $7.27 and a 200 day moving average price of $7.39. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 6.76 and a beta of 1.63.

Orchid Island Capital (NYSE:ORC - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $124.78 million during the quarter, compared to the consensus estimate of $35.74 million. As a group, equities research analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. bought a new position in shares of Orchid Island Capital during the third quarter valued at approximately $29,000. CWM LLC boosted its stake in shares of Orchid Island Capital by 123.1% during the third quarter. CWM LLC now owns 4,534 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 2,502 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Orchid Island Capital by 64.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 2,502 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Orchid Island Capital by 32,505.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 6,501 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Orchid Island Capital during the second quarter valued at approximately $55,000. 32.74% of the stock is owned by hedge funds and other institutional investors.

Orchid Island Capital Company Profile

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.

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