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

SG Americas Securities LLC boosted its position in Orchid Island Capital, Inc. (NYSE:ORC) by 133.6% in the 1st quarter, HoldingsChannel.com reports. The firm 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’s holdings in Orchid Island Capital were worth $1,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in Orchid Island Capital by 64.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 2,502 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Orchid Island Capital by 32,505.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,501 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Orchid Island Capital in the second quarter valued at $55,000. CWM LLC increased its position in shares of Orchid Island Capital by 72.0% in the fourth quarter. CWM LLC now owns 7,797 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 3,263 shares in the last quarter. Finally, My Personal CFO LLC purchased a new position in shares of Orchid Island Capital in the fourth quarter valued at $72,000. 32.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Orchid Island Capital Trading Down 0.1%

Shares of Orchid Island Capital stock opened at $6.92 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 509.34 and a quick ratio of 509.34. Orchid Island Capital, Inc. has a 1 year low of $6.41 and a 1 year high of $8.40. The company has a market capitalization of $1.39 billion, a P/E ratio of 9.22 and a beta of 1.54. The business has a 50 day moving average price of $6.82 and a 200 day moving average price of $7.22.

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

Orchid Island Capital Dividend Announcement

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

Orchid Island Capital announced that its board has approved a share repurchase plan on Monday, June 22nd that authorizes the company to buyback 25,000,000,000,000 outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Orchid Island Capital Company 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.