Zacks Investment Research upgraded shares of Orchid Island Capital, Inc. (NYSE:ORC) from a hold rating to a strong-buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $11.00 price target on the real estate investment trust’s stock.

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. “

Several other analysts have also issued reports on the stock. ValuEngine lowered shares of Orchid Island Capital from a hold rating to a sell rating in a research report on Tuesday, October 31st. BidaskClub upgraded shares of Orchid Island Capital from a hold rating to a buy rating in a research report on Tuesday, August 22nd. Finally, TheStreet lowered shares of Orchid Island Capital from a c rating to a d rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $11.00.

Shares of Orchid Island Capital (NYSE:ORC) opened at $9.72 on Thursday. Orchid Island Capital has a 12-month low of $9.18 and a 12-month high of $12.60.

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The firm also recently announced a monthly dividend, which will be paid on Friday, November 10th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 17.28%. Orchid Island Capital’s dividend payout ratio (DPR) is currently -289.65%.

Several institutional investors have recently modified their holdings of ORC. Quantbot Technologies LP acquired a new stake in shares of Orchid Island Capital during the 2nd quarter valued at about $101,000. Bank of America Corp DE boosted its position in shares of Orchid Island Capital by 151.7% during the 1st quarter. Bank of America Corp DE now owns 13,067 shares of the real estate investment trust’s stock valued at $130,000 after acquiring an additional 7,875 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Orchid Island Capital during the 2nd quarter valued at about $134,000. Voya Investment Management LLC acquired a new stake in shares of Orchid Island Capital during the 2nd quarter valued at about $145,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Orchid Island Capital during the 3rd quarter valued at about $153,000. Institutional investors and hedge funds own 23.57% of the company’s stock.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.

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