Creative Planning Sells 1,561 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

Creative Planning lowered its stake in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,293 shares of the real estate investment trust’s stock after selling 1,561 shares during the period. Creative Planning’s holdings in Orchid Island Capital were worth $93,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ORC. Worth Asset Management LLC lifted its holdings in Orchid Island Capital by 359.7% during the third quarter. Worth Asset Management LLC now owns 67,749 shares of the real estate investment trust’s stock valued at $557,000 after purchasing an additional 53,011 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Orchid Island Capital during the 3rd quarter valued at approximately $218,000. Founders Financial Alliance LLC boosted its holdings in Orchid Island Capital by 52.9% in the 2nd quarter. Founders Financial Alliance LLC now owns 107,961 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 37,366 shares during the period. Cetera Investment Advisers boosted its holdings in Orchid Island Capital by 10.2% in the 2nd quarter. Cetera Investment Advisers now owns 183,678 shares of the real estate investment trust’s stock worth $1,532,000 after buying an additional 17,029 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Orchid Island Capital by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 1,422 shares during the period. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Trading Down 1.8 %

Orchid Island Capital stock opened at $7.73 on Wednesday. Orchid Island Capital, Inc. has a 1-year low of $6.73 and a 1-year high of $9.08. The firm has a market capitalization of $605.76 million, a PE ratio of 7.39 and a beta of 1.85. The firm’s 50 day simple moving average is $7.99 and its 200 day simple moving average is $8.24.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). During the same quarter in the prior year, the firm posted ($0.28) earnings per share. Research analysts forecast that Orchid Island Capital, Inc. will post -0.25 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 18.64%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 137.14%.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Wednesday, August 28th.

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.