Nisa Investment Advisors LLC Increases Stock Holdings in Orchid Island Capital, Inc. $ORC

Nisa Investment Advisors LLC grew its stake in Orchid Island Capital, Inc. (NYSE:ORC) by 313.0% during the third quarter, HoldingsChannel reports. The firm owned 207,548 shares of the real estate investment trust’s stock after purchasing an additional 157,300 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Orchid Island Capital were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in Orchid Island Capital in the 1st quarter valued at $84,000. Millennium Management LLC lifted its stake in shares of Orchid Island Capital by 234.9% in the 1st 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 during the period. Strs Ohio purchased a new stake in shares of Orchid Island Capital in the first quarter valued at about $111,000. Worth Asset Management LLC purchased a new stake in shares of Orchid Island Capital in the second quarter valued at about $80,000. Finally, BCS Wealth Management increased its stake in shares of Orchid Island Capital by 90.9% during the second quarter. BCS Wealth Management now owns 25,421 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 12,106 shares during the period. 32.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Orchid Island Capital Trading Up 1.0%

Shares of ORC opened at $7.90 on Thursday. Orchid Island Capital, Inc. has a twelve month low of $5.68 and a twelve month high of $9.01. The firm has a market capitalization of $1.41 billion, a P/E ratio of 16.11 and a beta of 1.67. The firm’s 50-day moving average is $7.32 and its two-hundred day moving average is $7.22.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $77.52 million for the quarter, compared to analyst estimates of $25.33 million. Analysts predict that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be given a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a yield of 18.2%. The ex-dividend date is Friday, January 30th. Orchid Island Capital’s payout ratio is presently 293.88%.

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.