Orchid Island Capital (NYSE:ORC) Stock Rating Downgraded by Zacks Investment Research
Orchid Island Capital (NYSE:ORC – Get a Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report released Friday, Zacks.com reports.
According to Zacks, “Orchid Island Capital, Inc. is a specialty finance company that invests in residential mortgage-backed securities whose payment of principal and interest is guaranteed by a U.S. government agency or U.S. government-sponsored entity. The company intends to qualify and elect to be taxed as a REIT beginning with its tax year ending December 31, 2013. Orchid Island Capital, Inc. is based in the United States.”
A number of other equity research analysts have also recently published reports on the ORC. JMP Securities began covering Orchid Island Capital in a research report on Wednesday, January 12. They set a “market performance” rating for the company. Jonestrading downgraded Orchid Island Capital from a “buy” rating to a “hold” rating in a Friday, February 25 report. Finally, StockNews.com began covering Orchid Island Capital in a report on Thursday, March 31. They set a “sell” rating for the company. Two investment analysts rated the stock with a sell rating and two assigned the company a hold rating. According to data from MarketBeat.com, Orchid Island Capital has a consensus rating of “Hold” and an average target price of $4.25.
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ORC stock opened at $3.02 on Friday. The company has a market capitalization of $534.52 million, a P/E ratio of -5.21 and a beta of 1.34. The company has a 50-day simple moving average of $3.51 and a 200-day simple moving average of $4.27. Orchid Island Capital has a fifty-two week low of $2.99 and a fifty-two week high of $6.22.
Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. Point72 Hong Kong Ltd acquired a new stake in Orchid Island Capital in Q4, valued at around $38,000. Busey Wealth Management bought a new position in Orchid Island Capital in the third quarter worth about $54,000. Apeiron RIA LLC bought a new position in Orchid Island Capital in the fourth quarter worth approximately $60,000. Sigma Planning Corp bought a new position in Orchid Island Capital in the fourth quarter, valued at around $63,000. Finally, Wagner Wealth Management LLC increased its stake in Orchid Island Capital by 41.0% in the third quarter. Wagner Wealth Management LLC now owns 13,893 shares of the real estate investment trust worth $69,000 after buying 4,041 additional shares last quarter. 25.24% of the stock is currently held by institutional investors.
Orchid Island Capital Company Profile (Get an assessment)
Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The Company’s RMBS is backed by single-family residential mortgages, referred to as Agency RMBS. Its portfolio includes traditional transfer agency RMBS, such as mortgage transfer certificates and secured mortgage bonds; and structured agency RMBS comprising interest only securities, inverse interest only securities and principal only securities.
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