Russell Investments Group Ltd. Increases Stock Holdings in Orchid Island Capital, Inc. $ORC

Russell Investments Group Ltd. grew its stake in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 52.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,379 shares of the real estate investment trust’s stock after acquiring an additional 3,214 shares during the quarter. Russell Investments Group Ltd.’s holdings in Orchid Island Capital were worth $71,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Orchid Island Capital by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust’s stock worth $40,165,000 after purchasing an additional 1,102,315 shares during the period. Wolverine Asset Management LLC lifted its position in Orchid Island Capital by 416.3% during the 1st quarter. Wolverine Asset Management LLC now owns 798,360 shares of the real estate investment trust’s stock worth $6,004,000 after acquiring an additional 643,717 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Orchid Island Capital by 79.0% during the 4th quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust’s stock worth $6,972,000 after acquiring an additional 395,650 shares in the last quarter. Nuveen LLC acquired a new position in Orchid Island Capital during the 1st quarter worth approximately $949,000. Finally, Northern Trust Corp increased its holdings in Orchid Island Capital by 16.8% during the 4th quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust’s stock worth $5,310,000 after purchasing an additional 98,030 shares during the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

Orchid Island Capital Stock Up 0.8%

Shares of NYSE:ORC opened at $7.20 on Friday. Orchid Island Capital, Inc. has a 12-month low of $5.68 and a 12-month high of $9.01. The company has a market cap of $912.46 million, a P/E ratio of 36.00 and a beta of 1.51. The company’s fifty day moving average is $7.12 and its two-hundred day moving average is $7.29.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $23.15 million during the quarter, compared to analysts’ expectations of $23.25 million. Equities research analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The firm also recently disclosed a aug 25 dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $0.12 dividend. This represents a dividend yield of 2,038.0%. The ex-dividend date of this dividend is Friday, August 29th. Orchid Island Capital’s payout ratio is presently 720.00%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Orchid Island Capital from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Orchid Island Capital Profile

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.