GraniteShares Advisors LLC Buys New Shares in Orchid Island Capital, Inc. $ORC

Key Points

• GraniteShares Advisors LLC bought a new stake of 371,284 shares in Orchid Island Capital (NYSE:ORC) in Q4, worth about $2.67 million (roughly 0.20% ownership), while other institutions also adjusted positions and institutional ownership stands near 32.74%.
• Orchid Island declared a monthly dividend of $0.10 per share (ex-dividend Apr 30), implying a 17.1% yield
• The REIT reported a quarterly beat with $0.19 EPS and $124.78M revenue, yet analysts have cut ratings (average rating: Reduce, $7.50 target); the stock trades at a P/E of 6.73 with a market cap of about $1.41 billion.

GraniteShares Advisors LLC bought a new stake in shares of Orchid Island Capital, Inc. (NYSE:ORC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 371,284 shares of the real estate investment trust's stock, valued at approximately $2,673,000. GraniteShares Advisors LLC owned 0.20% of Orchid Island Capital as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new stake in Orchid Island Capital in the 3rd quarter valued at about $29,000. CWM LLC increased its position in Orchid Island Capital by 123.1% in the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 2,502 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Orchid Island Capital in the 2nd quarter valued at about $55,000. Rogco LP increased its position in Orchid Island Capital by 115.5% in the 3rd quarter. Rogco LP now owns 7,975 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 4,275 shares in the last quarter. Finally, TIAA Trust National Association bought a new stake in Orchid Island Capital in the 3rd quarter valued at about $70,000. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Stock Performance

ORC opened at $7.00 on Tuesday. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.09. The company's fifty day moving average price is $7.26 and its two-hundred day moving average price is $7.39. Orchid Island Capital, Inc. has a 1-year low of $6.28 and a 1-year high of $8.40. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 6.73 and a beta of 1.63.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $124.78 million for the quarter, compared to analyst estimates of $35.74 million.

Orchid Island Capital Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a yield of 17.1%. Orchid Island Capital's dividend payout ratio (DPR) is 138.46%.

Analysts Set New Price Targets

ORC has been the subject of a number of research analyst reports. Weiss Ratings lowered Orchid Island Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 6th. Wall Street Zen downgraded shares of Orchid Island Capital from a "hold" rating to a "sell" rating in a report on Sunday. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $7.50.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company's principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.

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