Orchid Island Capital Inc (ORC) Given $8.25 Average Price Target by Brokerages

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Orchid Island Capital Inc (NYSE:ORC) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price target of $8.25 for the company, according to Zacks. Zacks has also given Orchid Island Capital an industry rank of 118 out of 255 based on the ratings given to related companies.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Orchid Island Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine cut Orchid Island Capital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd.

ORC traded up $0.02 during trading on Wednesday, reaching $7.82. The company had a trading volume of 798,399 shares, compared to its average volume of 927,537. The stock has a market capitalization of $415.24 million, a P/E ratio of 9.32 and a beta of 0.38. Orchid Island Capital has a 12-month low of $6.77 and a 12-month high of $10.47.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Friday, July 27th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.32). equities analysts anticipate that Orchid Island Capital will post 1.49 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.96 annualized dividend and a yield of 12.28%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 128.57%.

Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new stake in Orchid Island Capital during the 1st quarter worth $150,000. Voya Investment Management LLC lifted its stake in shares of Orchid Island Capital by 42.4% in the 2nd quarter. Voya Investment Management LLC now owns 20,914 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 6,231 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of Orchid Island Capital by 57.1% in the 2nd 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 during the period. Jane Street Group LLC acquired a new position in shares of Orchid Island Capital in the 1st quarter valued at about $178,000. Finally, Hartford Investment Management Co. acquired a new position in shares of Orchid Island Capital in the 2nd quarter valued at about $182,000. 31.72% of the stock is currently owned by institutional investors.

Orchid Island Capital Company Profile

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.

Further Reading: Leveraged Buyout (LBO) Explained

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