Orchid Island Capital, Inc. $ORC Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC increased its stake in Orchid Island Capital, Inc. (NYSE:ORC) by 298.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,011,903 shares of the real estate investment trust’s stock after acquiring an additional 758,217 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.55% of Orchid Island Capital worth $7,286,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ORC. AQR Capital Management LLC acquired a new position in shares of Orchid Island Capital in the 1st quarter worth $84,000. Millennium Management LLC grew its holdings in shares of Orchid Island Capital by 234.9% during the first quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust’s stock valued at $7,794,000 after buying an additional 726,907 shares in the last quarter. Strs Ohio purchased a new position in shares of Orchid Island Capital during the first quarter valued at $111,000. Envestnet Asset Management Inc. purchased a new position in shares of Orchid Island Capital during the second quarter valued at $75,000. Finally, Legal & General Group Plc grew its holdings in shares of Orchid Island Capital by 1,421.3% during the second quarter. Legal & General Group Plc now owns 100,817 shares of the real estate investment trust’s stock valued at $707,000 after buying an additional 94,190 shares in the last quarter. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital Stock Performance

Shares of NYSE ORC opened at $7.09 on Monday. The business’s 50-day moving average price is $7.18 and its two-hundred day moving average price is $7.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 509.34 and a quick ratio of 509.34. Orchid Island Capital, Inc. has a one year low of $6.62 and a one year high of $8.40. The company has a market capitalization of $1.42 billion, a P/E ratio of 9.45 and a beta of 1.57.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of ($12.56) million during the quarter, compared to analysts’ expectations of $33.03 million.

Orchid Island Capital Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, April 30th will be given a dividend of $0.10 per share. This represents a c) annualized dividend and a dividend yield of 16.9%. The ex-dividend date of this dividend is Thursday, April 30th. Orchid Island Capital’s payout ratio is currently 160.00%.

Analyst Ratings Changes

ORC has been the topic of a number of research analyst reports. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings downgraded Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $7.50.

Orchid Island Capital 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.