Cambridge Investment Research Advisors Inc. Sells 2,300 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

Cambridge Investment Research Advisors Inc. decreased its position in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 18.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 10,398 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Orchid Island Capital were worth $78,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Orchid Island Capital by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,522 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Orchid Island Capital by 73.3% in the fourth 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 during the period. Proficio Capital Partners LLC bought a new position in Orchid Island Capital in the fourth quarter valued at about $82,000. Mariner LLC bought a new position in Orchid Island Capital in the fourth quarter valued at about $82,000. Finally, GAMMA Investing LLC increased its position in Orchid Island Capital by 1,841.4% in the first quarter. GAMMA Investing LLC now owns 11,784 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 11,177 shares in the last quarter. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Stock Performance

Shares of ORC stock opened at $7.02 on Wednesday. Orchid Island Capital, Inc. has a 52-week low of $5.69 and a 52-week high of $9.01. The firm has a market capitalization of $889.50 million, a P/E ratio of 17.55 and a beta of 1.49. The stock has a 50 day moving average price of $7.06 and a 200 day moving average price of $7.52.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $19.71 million during the quarter, compared to the consensus estimate of $11.96 million. As a group, sell-side analysts forecast that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, July 31st will be issued a $0.12 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 20.51%. Orchid Island Capital’s dividend payout ratio is presently 360.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ORC. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Jones Trading restated 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.