JPMorgan Chase & Co. Purchases 175,311 Shares of Orchid Island Capital, Inc. $ORC

Key Points

• JPMorgan Chase & Co. boosted its stake in Orchid Island Capital (NYSE:ORC) by 295.1% in Q3, buying 175,311 shares to own 234,720 shares (about 0.13% of the company) worth roughly $1.645 million.
• Orchid Island declared a monthly dividend of $0.12 per share (ex-dividend Mar 31, payable Apr 29), implying a 20.0% yield and a payout ratio of 138.46%.
• The REIT reported quarterly EPS of $0.19 (beating estimates by $0.01) and revenue of $124.78 million, trades at a PE of 6.92 with a market cap around $1.41 billion, while analysts’ consensus rating is “Reduce” with a $7.50 target.

JPMorgan Chase & Co. boosted its position in shares of Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 295.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 234,720 shares of the real estate investment trust's stock after purchasing an additional 175,311 shares during the period. JPMorgan Chase & Co. owned about 0.13% of Orchid Island Capital worth $1,645,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new position in Orchid Island Capital during the 3rd quarter valued at about $29,000. CWM LLC raised its stake in shares of Orchid Island Capital by 123.1% in the third quarter. CWM LLC now owns 4,534 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 2,502 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Orchid Island Capital in the second quarter worth about $55,000. Rogco LP raised its stake in shares of Orchid Island Capital by 115.5% in the third quarter. Rogco LP now owns 7,975 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 4,275 shares during the last quarter. Finally, Evolution Wealth Management Inc. bought a new position in shares of Orchid Island Capital in the second quarter worth about $64,000. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Trading Up 1.9%

Shares of NYSE ORC opened at $7.20 on Thursday. Orchid Island Capital, Inc. has a 1-year low of $5.68 and a 1-year high of $8.40. The company has a market cap of $1.41 billion, a PE ratio of 6.92 and a beta of 1.63. 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 has a 50-day moving average of $7.36 and a two-hundred day moving average of $7.38.

Orchid Island Capital (NYSE:ORC - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 EPS 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. As a group, equities analysts expect that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 20.0%. Orchid Island Capital's payout ratio is currently 138.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Orchid Island Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday. Compass Point assumed coverage on shares of Orchid Island Capital in a research note on Monday, December 15th. They issued a "neutral" rating and a $7.50 target price for the company. Finally, Wall Street Zen downgraded shares of Orchid Island Capital from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Orchid Island Capital currently has an average rating of "Reduce" and a consensus price target of $7.50.

Orchid Island Capital Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.