Advisors Asset Management Inc. Takes Position in Orchid Island Capital, Inc. $ORC

Advisors Asset Management Inc. purchased a new position in Orchid Island Capital, Inc. (NYSE:ORC) during the third quarter, HoldingsChannel reports. The firm purchased 138,702 shares of the real estate investment trust’s stock, valued at approximately $972,000.

Several other large investors also recently modified their holdings of ORC. Bogart Wealth LLC increased its position in 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 acquiring an additional 1,540 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Orchid Island Capital by 17.8% during the 2nd quarter. Prudential Financial Inc. now owns 13,189 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 1,995 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Orchid Island Capital by 4.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 50,248 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 2,315 shares during the last quarter. CWM LLC lifted its stake in shares of Orchid Island Capital by 123.1% in the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 2,502 shares during the period. Finally, Strs Ohio lifted its stake in shares of Orchid Island Capital by 14.8% in the 3rd quarter. Strs Ohio now owns 23,300 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 32.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Orchid Island Capital in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Compass Point assumed coverage on Orchid Island Capital in a research note on Monday, December 15th. They issued a “neutral” rating and a $7.50 price objective for the company. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $7.50.

Orchid Island Capital Price Performance

Shares of ORC opened at $7.52 on Wednesday. The firm has a market cap of $1.38 billion, a P/E ratio of 7.23 and a beta of 1.68. The company has a 50 day simple moving average of $7.62 and a two-hundred day simple moving average of $7.35. Orchid Island Capital, Inc. has a 1 year low of $5.68 and a 1 year high of $9.01.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $109.23 million during the quarter, compared to the consensus estimate of $35.74 million. On average, sell-side analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

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

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.