Magnetar Financial LLC Takes Position in Orchid Island Capital, Inc. $ORC

Key Points

• Magnetar Financial LLC recently acquired 91,455 shares of Orchid Island Capital, Inc., valued at approximately $688,000, indicating institutional interest in the real estate investment trust.
• Orchid Island Capital was downgraded from a "hold" rating to a "strong sell" rating by Wall Street Zen, reflecting a shift in analyst sentiment towards the stock.
• The company announced a $0.12 dividend to be paid on September 29th, representing an exceptionally high yield of 2,038.0%, despite a significant dividend payout ratio of 720.00%.

Magnetar Financial LLC purchased a new stake 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 & Exchange Commission. The fund purchased 91,455 shares of the real estate investment trust's stock, valued at approximately $688,000. Magnetar Financial LLC owned approximately 0.08% of Orchid Island Capital as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rogco LP acquired a new position in Orchid Island Capital in the first quarter valued at about $28,000. US Bancorp DE raised its stake in Orchid Island Capital by 1,123.1% in the first quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 3,504 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Orchid Island Capital by 73.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 3,012 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Orchid Island Capital by 52.1% in the first quarter. Russell Investments Group Ltd. now owns 9,379 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 3,214 shares in the last quarter. Finally, Mariner LLC acquired a new position in Orchid Island Capital in the fourth quarter valued at about $82,000. Institutional investors and hedge funds own 32.74% of the company's stock.

Analyst Upgrades and Downgrades

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

Orchid Island Capital Stock Performance

Shares of Orchid Island Capital stock traded down $0.02 on Friday, reaching $7.19. 6,705,356 shares of the company's stock were exchanged, compared to its average volume of 3,794,893. The company has a market capitalization of $910.56 million, a P/E ratio of 35.93 and a beta of 1.51. Orchid Island Capital, Inc. has a 52 week low of $5.68 and a 52 week high of $9.01. The firm's 50-day moving average is $7.12 and its two-hundred day moving average is $7.29.

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

Orchid Island Capital Announces Dividend

The company also recently announced a aug 25 dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.12 per share. This represents a dividend yield of 2,038.0%. The ex-dividend date of this dividend is Friday, August 29th. Orchid Island Capital's dividend 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.