Y Intercept Hong Kong Ltd Has $4.07 Million Stake in Orchid Island Capital, Inc. $ORC

Y Intercept Hong Kong Ltd boosted its position in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 425.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 579,236 shares of the real estate investment trust’s stock after purchasing an additional 469,076 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Orchid Island Capital were worth $4,072,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of Orchid Island Capital by 64.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,502 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Orchid Island Capital by 32,505.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 6,501 shares during the period. Raymond James Financial Inc. acquired a new position in Orchid Island Capital during the second quarter valued at $55,000. CWM LLC lifted its stake in Orchid Island Capital by 72.0% in the 4th quarter. CWM LLC now owns 7,797 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 3,263 shares in the last quarter. Finally, My Personal CFO LLC purchased a new stake in Orchid Island Capital in the 4th quarter worth about $72,000. 32.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ORC. Weiss Ratings cut Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $7.50.

Orchid Island Capital Stock Performance

Shares of NYSE ORC opened at $6.92 on Monday. 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 $6.41 and a one year high of $8.40. The business’s 50-day moving average price is $6.82 and its two-hundred day moving average price is $7.22. The company has a market capitalization of $1.39 billion, a P/E ratio of 9.22 and a beta of 1.54.

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

Orchid Island Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Tuesday, June 30th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 17.4%. Orchid Island Capital’s payout ratio is 160.00%.

Orchid Island Capital declared that its Board of Directors has approved a stock buyback program on Monday, June 22nd that allows the company to buyback 25,000,000,000,000 outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.