American International Group Inc. boosted its stake in Orchid Island Capital, Inc. (NYSE:ORC) by 58.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,606 shares of the real estate investment trust’s stock after buying an additional 6,836 shares during the period. American International Group Inc. owned 0.05% of Orchid Island Capital worth $186,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TFS Capital LLC acquired a new stake in Orchid Island Capital during the first quarter worth about $115,000. Bank of New York Mellon Corp increased its stake in Orchid Island Capital by 22.7% in the first quarter. Bank of New York Mellon Corp now owns 116,598 shares of the real estate investment trust’s stock worth $1,165,000 after buying an additional 21,558 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Orchid Island Capital by 1.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,398 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 205 shares during the last quarter. IndexIQ Advisors LLC increased its position in shares of Orchid Island Capital by 42.6% in the first quarter. IndexIQ Advisors LLC now owns 33,942 shares of the real estate investment trust’s stock worth $339,000 after buying an additional 10,132 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Orchid Island Capital during the first quarter worth $187,000. 20.49% of the stock is currently owned by institutional investors and hedge funds.
Orchid Island Capital, Inc. (NYSE:ORC) opened at 9.58 on Friday. The firm’s market cap is $434.00 million. The company has a 50-day moving average price of $9.82 and a 200-day moving average price of $10.33. Orchid Island Capital, Inc. has a 1-year low of $9.18 and a 1-year high of $12.60.
Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Monday, July 31st. The real estate investment trust reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.68. On average, equities research analysts forecast that Orchid Island Capital, Inc. will post $1.09 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 31st will be paid a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 17.54%. The ex-dividend date of this dividend is Tuesday, August 29th. Orchid Island Capital’s payout ratio is presently -2,799.53%.
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A number of research firms have commented on ORC. TheStreet cut shares of Orchid Island Capital from a “c” rating to a “d” rating in a research report on Monday, July 31st. BidaskClub cut shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.
In other news, Director W Coleman Bitting purchased 2,912 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was bought at an average cost of $10.10 per share, with a total value of $29,411.20. Following the completion of the purchase, the director now owns 18,650 shares in the company, valued at $188,365. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.
About Orchid Island Capital
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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