Ameriprise Financial Inc. Buys 395,650 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

Ameriprise Financial Inc. grew its holdings in Orchid Island Capital, Inc. (NYSE:ORC) by 79.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 896,192 shares of the real estate investment trust’s stock after acquiring an additional 395,650 shares during the quarter. Ameriprise Financial Inc. owned 1.12% of Orchid Island Capital worth $6,972,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ORC. JPMorgan Chase & Co. increased its holdings in shares of Orchid Island Capital by 89.6% in the third quarter. JPMorgan Chase & Co. now owns 61,525 shares of the real estate investment trust’s stock worth $506,000 after acquiring an additional 29,073 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Orchid Island Capital by 7.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 47,858 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 3,410 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Orchid Island Capital by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 32,727 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 6,173 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Orchid Island Capital in the fourth quarter worth about $176,000. Finally, Van ECK Associates Corp increased its holdings in shares of Orchid Island Capital by 12.5% in the fourth quarter. Van ECK Associates Corp now owns 782,255 shares of the real estate investment trust’s stock worth $6,086,000 after acquiring an additional 87,124 shares in the last quarter. 32.74% of the stock is currently owned by institutional investors.

Orchid Island Capital Stock Performance

NYSE:ORC opened at $6.89 on Friday. The company has a market cap of $751.98 million, a PE ratio of 11.48 and a beta of 1.54. Orchid Island Capital, Inc. has a 52-week low of $5.69 and a 52-week high of $9.01. The stock has a 50-day simple moving average of $7.10 and a 200 day simple moving average of $7.74.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $19.71 million during the quarter, compared to analyst estimates of $11.96 million. On average, research analysts predict that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 20.92%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 360.00%.

Wall Street Analyst Weigh In

ORC has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Finally, Jones Trading reiterated a “hold” rating on shares of Orchid Island Capital in a report on Wednesday, April 30th.

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.