58,831 Shares in Orchid Island Capital, Inc. $ORC Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC acquired a new stake in Orchid Island Capital, purchasing 58,831 shares valued at approximately $442,000, representing about 0.05% of the company.
• Orchid Island Capital has a dividend yield of 2,010.0%, with a dividend payment of $0.12 scheduled for September 29th, 2023.
• The stock's 52-week range shows a low of $5.68 and a high of $9.01, with current trading at approximately $7.14.

AlphaQuest LLC purchased a new position in shares of Orchid Island Capital, Inc. (NYSE:ORC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,831 shares of the real estate investment trust's stock, valued at approximately $442,000. AlphaQuest LLC owned approximately 0.05% 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 ORC. Russell Investments Group Ltd. lifted its stake in shares of Orchid Island Capital by 52.1% during the 1st quarter. Russell Investments Group Ltd. now owns 9,379 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 3,214 shares during the last quarter. Nuveen LLC purchased a new stake in Orchid Island Capital in the first quarter valued at about $949,000. Entropy Technologies LP raised its stake in Orchid Island Capital by 61.5% in the first quarter. Entropy Technologies LP now owns 22,775 shares of the real estate investment trust's stock valued at $171,000 after buying an additional 8,674 shares during the last quarter. Founders Financial Alliance LLC raised its stake in Orchid Island Capital by 11.0% in the first quarter. Founders Financial Alliance LLC now owns 154,927 shares of the real estate investment trust's stock valued at $1,165,000 after buying an additional 15,364 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its stake in Orchid Island Capital by 416.3% in the first quarter. Wolverine Asset Management LLC now owns 798,360 shares of the real estate investment trust's stock valued at $6,004,000 after buying an additional 643,717 shares during the last quarter. Institutional investors own 32.74% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Orchid Island Capital from a "hold" rating to a "strong sell" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

Orchid Island Capital Stock Down 0.1%

Shares of NYSE:ORC traded down $0.01 during trading on Monday, hitting $7.07. The stock had a trading volume of 6,705,285 shares, compared to its average volume of 4,009,102. Orchid Island Capital, Inc. has a 12-month low of $5.68 and a 12-month high of $9.01. The stock has a market capitalization of $895.35 million, a price-to-earnings ratio of 35.33 and a beta of 1.51. The stock has a 50-day simple moving average of $7.12 and a two-hundred day simple moving average of $7.31.

Orchid Island Capital (NYSE:ORC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $23.15 million during the quarter, compared to analysts' expectations of $23.25 million. As a group, sell-side analysts forecast that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

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

About Orchid Island Capital

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.