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 equities research analyst has rated the stock with a strong buy recommendation. Orchid Island Capital’s rating score has improved by 50% in the last three months as a result of various analysts’ ratings changes.
Brokerages have set a twelve-month consensus target price of $9.00 for the company, according to Zacks. Zacks has also given Orchid Island Capital an industry rank of 239 out of 265 based on the ratings given to its competitors.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of Orchid Island Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 14th. ValuEngine lowered shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research note on Thursday.
Orchid Island Capital (NYSE ORC) opened at $7.39 on Thursday. The company has a market cap of $392.16, a P/E ratio of 9.12 and a beta of 0.32. Orchid Island Capital has a 52 week low of $6.77 and a 52 week high of $11.13.
The company also recently disclosed a monthly dividend, which will be paid on Friday, March 9th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.32 annualized dividend and a dividend yield of 17.86%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 6,600.00%.
Orchid Island Capital declared that its board has approved a stock repurchase program on Thursday, February 8th that permits the company to buyback 4,520,000 shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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About Orchid Island Capital
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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