Wolverine Asset Management LLC lifted its holdings in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 416.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 798,360 shares of the real estate investment trust's stock after acquiring an additional 643,717 shares during the period. Wolverine Asset Management LLC owned approximately 0.73% of Orchid Island Capital worth $6,004,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Orchid Island Capital by 26.0% in 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 purchasing an additional 1,102,315 shares during the period. Invesco Ltd. boosted its position in Orchid Island Capital by 3,379.3% during the fourth quarter. Invesco Ltd. now owns 2,354,065 shares of the real estate investment trust's stock valued at $18,315,000 after buying an additional 2,286,405 shares during the period. Geode Capital Management LLC boosted its position in Orchid Island Capital by 10.7% during the fourth 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 buying an additional 177,357 shares during the period. Ameriprise Financial Inc. boosted its position in 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 valued at $6,972,000 after buying an additional 395,650 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 52,929 shares during the period. 32.74% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on ORC shares. 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. Jones Trading restated a "hold" rating on shares of Orchid Island Capital in a report on Wednesday, April 30th.
Get Our Latest Research Report on ORC
Orchid Island Capital Stock Performance
Shares of ORC traded up $0.09 during midday trading on Tuesday, hitting $7.13. 1,736,261 shares of the company traded hands, compared to its average volume of 3,719,166. Orchid Island Capital, Inc. has a 52 week low of $5.68 and a 52 week high of $9.01. The firm has a 50 day moving average of $7.09 and a 200-day moving average of $7.42. The stock has a market cap of $902.95 million, a price-to-earnings ratio of 35.63 and a beta of 1.47.
Orchid Island Capital (NYSE:ORC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $23.15 million during the quarter, compared to analysts' expectations of $23.25 million. Sell-side analysts predict that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.
Orchid Island Capital Announces Dividend
The company 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. This represents a c) annualized dividend and a yield of 20.2%. The ex-dividend date is Thursday, July 31st. Orchid Island Capital's dividend payout ratio (DPR) is 720.00%.
Orchid Island Capital Profile
(
Free Report)
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.
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