Cannell & Spears LLC Makes New $526,000 Investment in Orchid Island Capital, Inc. $ORC

Cannell & Spears LLC bought a new position in shares of Orchid Island Capital, Inc. (NYSE:ORC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 75,000 shares of the real estate investment trust’s stock, valued at approximately $526,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in Orchid Island Capital by 313.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 207,548 shares of the real estate investment trust’s stock worth $1,480,000 after buying an additional 157,300 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in Orchid Island Capital during the 3rd quarter worth about $972,000. Quantbot Technologies LP acquired a new stake in Orchid Island Capital in the 2nd quarter valued at about $1,027,000. Segall Bryant & Hamill LLC acquired a new stake in Orchid Island Capital in the 3rd quarter valued at about $1,412,000. Finally, Swiss National Bank bought a new position in shares of Orchid Island Capital in the second quarter worth about $1,417,000. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital Trading Up 0.6%

Shares of ORC opened at $7.27 on Tuesday. The stock’s fifty day simple moving average is $7.68 and its 200-day simple moving average is $7.39. The firm has a market capitalization of $1.39 billion, a PE ratio of 6.99 and a beta of 1.67. Orchid Island Capital, Inc. has a 12-month low of $5.68 and a 12-month high of $8.44. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.09.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $124.78 million during the quarter, compared to analyst estimates of $35.74 million. As a group, research analysts predict that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 19.8%. Orchid Island Capital’s payout ratio is currently 138.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ORC. Weiss Ratings upgraded shares of Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 26th. Compass Point began coverage on shares of Orchid Island Capital in a report on Monday, December 15th. They issued a “neutral” rating and a $7.50 price target for the company. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Orchid Island Capital presently has an average rating of “Hold” and an average target price 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.