AlphaQuest LLC Sells 3,381 Shares of Orchid Island Capital, Inc. $ORC

AlphaQuest LLC trimmed its position in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,450 shares of the real estate investment trust’s stock after selling 3,381 shares during the quarter. AlphaQuest LLC’s holdings in Orchid Island Capital were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC lifted its holdings in shares of Orchid Island Capital by 64.2% during the 2nd quarter. Bogart Wealth LLC now owns 3,940 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 1,540 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Orchid Island Capital during the second quarter valued at $156,000. Global Assets Advisory LLC purchased a new position in Orchid Island Capital during the second quarter valued at $189,000. BCS Wealth Management lifted its position in Orchid Island Capital by 90.9% during the second quarter. BCS Wealth Management now owns 25,421 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 12,106 shares in the last quarter. Finally, Worth Asset Management LLC purchased a new position in Orchid Island Capital during the second quarter valued at $80,000. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Stock Performance

NYSE ORC opened at $7.40 on Thursday. The business’s fifty day moving average is $7.18 and its 200 day moving average is $7.09. The company has a market capitalization of $1.12 billion, a PE ratio of 15.10 and a beta of 1.53. Orchid Island Capital, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $9.01.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $26.92 million for the quarter, compared to the consensus estimate of $25.33 million. On average, sell-side analysts forecast that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 19.5%. Orchid Island Capital’s dividend payout ratio (DPR) is currently 293.88%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ORC. Weiss Ratings reiterated a “sell (d)” rating on shares of Orchid Island Capital in a research report on Wednesday, October 8th. Wall Street Zen downgraded 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 and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Orchid Island Capital Company 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.