Virtus Advisers LLC Acquires Shares of 46,500 Orchid Island Capital, Inc. $ORC

Key Points

• Virtus Advisers LLC has invested $350,000 in Orchid Island Capital, acquiring 46,500 shares of the real estate investment trust during the first quarter.
• The stock is currently priced at $7.1450, with a market capitalization of $905.48 million and an earnings per share (EPS) of $0.16, exceeding analyst expectations.
• Orchid Island Capital recently declared a dividend of $0.12 to be paid on September 29, representing a yield of 2,010.0%, though the dividend payout ratio is notably high at 720.00%.

Virtus Advisers LLC bought a new stake in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 46,500 shares of the real estate investment trust's stock, valued at approximately $350,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Orchid Island Capital by 26.0% during the first quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust's stock worth $40,165,000 after buying an additional 1,102,315 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Orchid Island Capital by 79.0% during the fourth quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock worth $6,972,000 after buying an additional 395,650 shares during the period. Wolverine Asset Management LLC lifted its stake in shares of Orchid Island Capital by 416.3% during the first quarter. Wolverine Asset Management LLC now owns 798,360 shares of the real estate investment trust's stock worth $6,004,000 after buying an additional 643,717 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Orchid Island Capital by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 716,584 shares of the real estate investment trust's stock worth $5,389,000 after buying an additional 52,929 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Orchid Island Capital by 16.8% during the fourth quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust's stock worth $5,310,000 after buying an additional 98,030 shares during the period. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Orchid Island Capital Stock Performance

NYSE ORC traded down $0.01 on Friday, reaching $7.07. 6,705,285 shares of the company's stock traded hands, compared to its average volume of 3,912,993. The firm has a market cap of $895.35 million, a price-to-earnings ratio of 35.33 and a beta of 1.47. The stock has a 50 day moving average price of $7.12 and a 200-day moving average price of $7.32. Orchid Island Capital, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $9.01.

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

Orchid Island Capital Dividend Announcement

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