OMERS ADMINISTRATION Corp Acquires New Shares in Orchid Island Capital, Inc. $ORC

Key Points

• OMERS ADMINISTRATION Corp has purchased 95,400 shares of Orchid Island Capital, Inc. for approximately $717,000, representing a 0.09% ownership stake.
• Other institutional investors, including Vanguard Group Inc. and Ameriprise Financial Inc., have significantly increased their holdings in Orchid Island Capital, with Vanguard raising theirs by 26% and Ameriprise by 79%.
• The company announced a $0.12 per share dividend for stockholders of record on August 29th, with a striking dividend yield of 2,038.0% despite a high payout ratio of 720%.

OMERS ADMINISTRATION Corp purchased a new position in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 95,400 shares of the real estate investment trust's stock, valued at approximately $717,000. OMERS ADMINISTRATION Corp owned about 0.09% of Orchid Island Capital at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in shares of Orchid Island Capital by 40.0% during the fourth quarter. Wells Fargo & Company MN now owns 46,586 shares of the real estate investment trust's stock worth $362,000 after purchasing an additional 13,316 shares during the last quarter. Barclays PLC raised its holdings in shares of Orchid Island Capital by 25.9% during the fourth quarter. Barclays PLC now owns 118,358 shares of the real estate investment trust's stock worth $921,000 after purchasing an additional 24,353 shares during the last quarter. Mariner LLC purchased a new position in shares of Orchid Island Capital during the fourth quarter worth $82,000. MetLife Investment Management LLC raised its holdings in shares of Orchid Island Capital by 15.7% during the fourth quarter. MetLife Investment Management LLC now owns 47,259 shares of the real estate investment trust's stock worth $368,000 after purchasing an additional 6,408 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Orchid Island Capital by 73.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 3,012 shares during the last quarter. Hedge funds and other institutional investors own 32.74% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Orchid Island Capital from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".

Orchid Island Capital Stock Up 0.8%

Shares of NYSE ORC traded up $0.06 during trading on Thursday, hitting $7.20. The company had a trading volume of 4,831,204 shares, compared to its average volume of 3,782,070. The stock has a fifty day simple moving average of $7.12 and a two-hundred day simple moving average of $7.30. Orchid Island Capital, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $9.01. The firm has a market capitalization of $912.46 million, a price-to-earnings ratio of 36.00 and a beta of 1.51.

Orchid Island Capital (NYSE:ORC - Get Free Report) last announced its earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $23.15 million during the quarter, compared to analyst estimates of $23.25 million. On average, analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The firm also recently declared a aug 25 dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 29th. This represents a yield of 2,038.0%. Orchid Island Capital's payout ratio is presently 720.00%.

Orchid Island Capital Profile

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 mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.