BCS Wealth Management Buys Shares of 13,315 Orchid Island Capital, Inc. (NYSE:ORC)

BCS Wealth Management bought a new stake in shares of Orchid Island Capital, Inc. (NYSE:ORC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,315 shares of the real estate investment trust’s stock, valued at approximately $100,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ORC. Russell Investments Group Ltd. boosted its position in Orchid Island Capital by 32.8% during the 4th quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,522 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Orchid Island Capital by 73.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 3,012 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Orchid Island Capital during the 4th quarter valued at $82,000. Mariner LLC bought a new stake in Orchid Island Capital during the 4th quarter valued at $82,000. Finally, GAMMA Investing LLC boosted its position in Orchid Island Capital by 1,841.4% during the 1st quarter. GAMMA Investing LLC now owns 11,784 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 11,177 shares in the last quarter. Institutional investors own 32.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ORC. Wall Street Zen raised Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Jones Trading reissued a “hold” rating on shares of Orchid Island Capital in a research report on Wednesday, April 30th.

Orchid Island Capital Price Performance

Orchid Island Capital stock opened at $6.96 on Monday. The stock has a market capitalization of $760.17 million, a price-to-earnings ratio of 11.60 and a beta of 1.49. Orchid Island Capital, Inc. has a 1-year low of $5.69 and a 1-year high of $9.01. The business has a fifty day moving average price of $6.86 and a 200-day moving average price of $7.67.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $19.71 million during the quarter, compared to analysts’ expectations of $11.96 million. On average, equities research analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 20.69%. Orchid Island Capital’s payout ratio is 360.00%.

About Orchid Island Capital

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.