Financial Gravity Companies Inc. Buys Shares of 91,875 Orchid Island Capital, Inc. $ORC

Financial Gravity Companies Inc. purchased a new position in Orchid Island Capital, Inc. (NYSE:ORC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 91,875 shares of the real estate investment trust’s stock, valued at approximately $644,000. Financial Gravity Companies Inc. owned about 0.07% of Orchid Island Capital at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Orchid Island Capital by 15.2% during the first quarter. Bank of New York Mellon Corp now owns 204,911 shares of the real estate investment trust’s stock valued at $1,541,000 after purchasing an additional 27,017 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Orchid Island Capital during the 1st quarter worth about $84,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Orchid Island Capital during the 1st quarter valued at about $90,000. Avantax Advisory Services Inc. lifted its holdings in shares of Orchid Island Capital by 80.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 24,639 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 11,015 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Orchid Island Capital by 2.4% in the 1st quarter. Cetera Investment Advisers now owns 205,868 shares of the real estate investment trust’s stock valued at $1,548,000 after buying an additional 4,917 shares in the last quarter. 32.74% of the stock is currently owned by hedge funds and other institutional investors.

Orchid Island Capital Stock Down 0.7%

Shares of ORC stock opened at $7.24 on Friday. Orchid Island Capital, Inc. has a 12 month low of $5.68 and a 12 month high of $9.01. The company has a market cap of $1.10 billion, a PE ratio of 14.77 and a beta of 1.57. The business’s 50 day moving average is $7.23 and its two-hundred day moving average is $7.14.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $77.52 million for the quarter, compared to the consensus estimate of $25.33 million. As a group, equities analysts expect that Orchid Island Capital, Inc. will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a yield of 19.9%. The ex-dividend date is Friday, November 28th. Orchid Island Capital’s dividend payout ratio is 293.88%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ORC shares. Wall Street Zen raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Orchid Island Capital in a research note on Thursday. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.