Orchid Island Capital (NYSE:ORC) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Orchid Island Capital (NYSE:ORC) from a "sell" to a "hold," but MarketBeat shows a consensus rating of "Reduce" with an average price target of $7.50 (two Holds and one Sell among analysts).
• ORC opened at $7.21 with a market cap of $1.41 billion and a P/E of 6.93; the REIT reported quarterly EPS of $0.19 (beating the $0.18 estimate) and revenue of $124.78 million, topping expectations.
• Institutional investors have been increasing positions—Vanguard, Geode, Invesco and State Street all added shares—and institutions now own about 32.74% of the stock.

Orchid Island Capital (NYSE:ORC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Other analysts have also issued reports about the stock. Compass Point started coverage on shares of Orchid Island Capital in a research note on Monday, December 15th. They issued a "neutral" rating and a $7.50 price objective for the company. Weiss Ratings downgraded shares of Orchid Island Capital from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Orchid Island Capital presently has a consensus rating of "Reduce" and an average target price of $7.50.

Orchid Island Capital Stock Up 0.2%

NYSE:ORC opened at $7.21 on Friday. Orchid Island Capital has a 1-year low of $5.85 and a 1-year high of $8.40. The company has a 50-day moving average of $7.33 and a 200 day moving average of $7.38. The firm has a market cap of $1.41 billion, a PE ratio of 6.93 and a beta of 1.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 509.34 and a quick ratio of 509.34.

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

Hedge Funds Weigh In On Orchid Island Capital

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Orchid Island Capital by 23.4% in the fourth quarter. Vanguard Group Inc. now owns 9,767,670 shares of the real estate investment trust's stock worth $70,327,000 after purchasing an additional 1,850,221 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Orchid Island Capital by 3.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,953,916 shares of the real estate investment trust's stock worth $27,717,000 after purchasing an additional 149,251 shares in the last quarter. Geode Capital Management LLC raised its holdings in Orchid Island Capital by 25.6% in the fourth quarter. Geode Capital Management LLC now owns 3,903,240 shares of the real estate investment trust's stock worth $28,109,000 after purchasing an additional 795,210 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Orchid Island Capital by 10.3% during the third quarter. Invesco Ltd. now owns 3,165,436 shares of the real estate investment trust's stock valued at $22,190,000 after acquiring an additional 294,547 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Orchid Island Capital by 18.8% during the fourth quarter. State Street Corp now owns 3,059,581 shares of the real estate investment trust's stock valued at $22,394,000 after acquiring an additional 484,209 shares in the last quarter. 32.74% of the stock is currently owned by institutional investors.

About Orchid Island Capital

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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