Financial Gravity Asset Management Inc. Takes Position in Orchid Island Capital, Inc. (NYSE:ORC)

Financial Gravity Asset Management Inc. acquired a new stake in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 86,074 shares of the real estate investment trust's stock, valued at approximately $647,000. Financial Gravity Asset Management Inc. owned 0.09% of Orchid Island Capital at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its position in Orchid Island Capital by 3,379.3% during the 4th quarter. Invesco Ltd. now owns 2,354,065 shares of the real estate investment trust's stock valued at $18,315,000 after purchasing an additional 2,286,405 shares during the period. Vanguard Group Inc. increased its position in Orchid Island Capital by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 4,238,780 shares of the real estate investment trust's stock valued at $32,978,000 after purchasing an additional 456,209 shares during the period. Ameriprise Financial Inc. increased its position in Orchid Island Capital by 79.0% during the 4th quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock valued at $6,972,000 after purchasing an additional 395,650 shares during the period. Geode Capital Management LLC increased its position in Orchid Island Capital by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 1,827,479 shares of the real estate investment trust's stock valued at $14,221,000 after purchasing an additional 177,357 shares during the period. Finally, Northern Trust Corp increased its position in Orchid Island Capital by 16.8% during the 4th quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust's stock valued at $5,310,000 after purchasing an additional 98,030 shares during the period. Institutional investors and hedge funds own 32.74% of the company's stock.

Analysts Set New Price Targets

ORC has been the topic of a number of research analyst reports. Jones Trading restated a "hold" rating on shares of Orchid Island Capital in a report on Wednesday, April 30th. Wall Street Zen upgraded Orchid Island Capital from a "sell" rating to a "hold" rating in a report on Friday, May 16th.

Orchid Island Capital Trading Down 0.6%

Shares of ORC traded down $0.04 during trading hours on Friday, reaching $7.16. The stock had a trading volume of 2,403,262 shares, compared to its average volume of 2,863,154. Orchid Island Capital, Inc. has a 12 month low of $5.69 and a 12 month high of $9.01. The firm has a 50-day simple moving average of $7.05 and a 200 day simple moving average of $7.53. The company has a market capitalization of $867.87 million, a price-to-earnings ratio of 17.90 and a beta of 1.49.

Orchid Island Capital (NYSE:ORC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $19.71 million during the quarter, compared to the consensus estimate of $11.96 million. On average, equities analysts forecast that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, July 31st will be paid a $0.12 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.44 annualized dividend and a yield of 20.11%. Orchid Island Capital's dividend payout ratio is currently 360.00%.

Orchid Island Capital Company 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.