This paper analyzes the performance of an electric solar wind sail for generating and maintaining a heliocentric circular displaced orbit. Previous research on this subject was based on a simplified mathematical model of the spacecraft thrust. However, recent studies have proposed a more accurate algorithm for evaluating both the modulus and the direction of the propulsive thrust as a function of some important parameters related to the spacecraft attitude. Therefore, a reappraisal of the problem is motivated by the need to revise past results, taking into account new information available on the propulsion system. Within this context, this paper focuses on circular displaced orbits that are characterized in terms of orbital period, heliocentric distance and elevation angle. The attitude configuration and the value of the spacecraft characteristic acceleration required for orbital maintenance are calculated. An in-depth analysis of the linear stability of displaced orbits is given. It is shown that displaced orbits are unstable when the elevation angle exceeds about 20 .