Wolverine Asset Management LLC Has $1.78 Million Holdings in Orchid Island Capital, Inc. $ORC

Wolverine Asset Management LLC lessened its position in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 53.9% in the third quarter, Holdings Channel.com reports. The firm owned 253,686 shares of the real estate investment trust’s stock after selling 296,815 shares during the period. Wolverine Asset Management LLC’s holdings in Orchid Island Capital were worth $1,778,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Orchid Island Capital by 313.0% during the third 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. KLP Kapitalforvaltning AS lifted its stake in Orchid Island Capital by 37.4% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 30,100 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 8,200 shares in the last quarter. BCS Wealth Management boosted its position in Orchid Island Capital by 34.2% during the 3rd quarter. BCS Wealth Management now owns 34,108 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 8,687 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Orchid Island Capital during the 3rd quarter worth approximately $29,000. Finally, Three Magnolias Financial Advisors LLC bought a new position in shares of Orchid Island Capital during the 3rd quarter worth approximately $71,000. 32.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented 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 reissued a “sell (d+)” rating on shares of Orchid Island Capital in a research report on Monday, December 29th. Finally, Compass Point began coverage on Orchid Island Capital in a report on Monday, December 15th. They set a “neutral” rating and a $7.50 target price on the stock. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Orchid Island Capital presently has an average rating of “Reduce” and a consensus price target of $7.50.

Orchid Island Capital Price Performance

Shares of ORC opened at $8.34 on Friday. The company has a market cap of $1.53 billion, a PE ratio of 17.02 and a beta of 1.67. The firm has a 50-day moving average of $7.35 and a 200-day moving average of $7.24. Orchid Island Capital, Inc. has a one year low of $5.68 and a one year high of $9.01.

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

Orchid Island Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.12 per share. This represents a c) annualized dividend and a dividend yield of 17.3%. The ex-dividend date is Friday, January 30th. Orchid Island Capital’s payout ratio is currently 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.