Orchid Island Capital, Inc. $ORC Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its position in Orchid Island Capital, Inc. (NYSE:ORC) by 133.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,209 shares of the real estate investment trust’s stock after buying an additional 102,493 shares during the period. SG Americas Securities LLC owned approximately 0.09% of Orchid Island Capital worth $1,260,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC boosted its holdings in shares of Orchid Island Capital by 298.9% in the fourth quarter. Wolverine Asset Management LLC now owns 1,011,903 shares of the real estate investment trust’s stock valued at $7,286,000 after acquiring an additional 758,217 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Orchid Island Capital by 295.1% during the third quarter. JPMorgan Chase & Co. now owns 234,720 shares of the real estate investment trust’s stock worth $1,645,000 after acquiring an additional 175,311 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Orchid Island Capital during the third quarter worth about $1,412,000. GraniteShares Advisors LLC purchased a new position in Orchid Island Capital during the fourth quarter worth about $2,673,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Orchid Island Capital during the fourth quarter worth about $993,000. 32.74% of the stock is owned by institutional investors and hedge funds.

Orchid Island Capital Price Performance

Orchid Island Capital stock opened at $6.92 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 9.22 and a beta of 1.54. Orchid Island Capital, Inc. has a one year low of $6.41 and a one year high of $8.40. The business has a fifty day moving average of $6.82 and a two-hundred day moving average of $7.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 509.34 and a current ratio of 509.34.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of ($12.56) million for the quarter, compared to analyst estimates of $33.03 million.

Orchid Island Capital declared that its Board of Directors has initiated a share buyback plan on Monday, June 22nd that authorizes the company to repurchase 25,000,000,000,000 shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Orchid Island Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 30th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 17.4%. Orchid Island Capital’s payout ratio is currently 160.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ORC shares. Weiss Ratings downgraded shares of Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. Wall Street Zen cut Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Orchid Island Capital currently has a consensus rating of “Reduce” and an average price target of $7.50.

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.