138,702 Shares in Orchid Island Capital, Inc. $ORC Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. acquired a new position in Orchid Island Capital, Inc. (NYSE:ORC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 138,702 shares of the real estate investment trust’s stock, valued at approximately $972,000. Advisors Asset Management Inc. owned approximately 0.09% of Orchid Island Capital at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in shares of Orchid Island Capital during the 1st quarter valued at $84,000. Millennium Management LLC boosted its stake in 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 worth $7,794,000 after acquiring an additional 726,907 shares in the last quarter. Strs Ohio bought a new stake in Orchid Island Capital during the first quarter worth about $111,000. KLP Kapitalforvaltning AS purchased a new stake in Orchid Island Capital in the second quarter worth about $156,000. Finally, Bogart Wealth LLC increased its stake in shares of Orchid Island Capital by 64.2% during the second quarter. Bogart Wealth LLC now owns 3,940 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,540 shares in the last quarter. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Trading Down 0.1%

Orchid Island Capital stock opened at $7.52 on Wednesday. Orchid Island Capital, Inc. has a 12 month low of $5.68 and a 12 month high of $9.01. The stock has a fifty day simple moving average of $7.62 and a two-hundred day simple moving average of $7.35. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 7.23 and a beta of 1.68.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $109.23 million for the quarter, compared to the consensus estimate of $35.74 million. On average, equities research analysts forecast that Orchid Island Capital, Inc. will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 19.1%. Orchid Island Capital’s payout ratio is currently 138.46%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Orchid Island Capital in a research report on Monday, December 29th. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Compass Point started coverage on Orchid Island Capital in a research note on Monday, December 15th. They issued a “neutral” rating and a $7.50 target price on the stock. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $7.50.

About Orchid Island Capital

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.