Verus Capital Partners LLC Invests $101,000 in Orchid Island Capital, Inc. $ORC

Verus Capital Partners LLC purchased a new position in shares of Orchid Island Capital, Inc. (NYSE:ORC) during the second quarter, Holdings Channel.com reports. The fund purchased 14,425 shares of the real estate investment trust’s stock, valued at approximately $101,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ORC. Vanguard Group Inc. boosted its stake 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 acquiring an additional 1,102,315 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Orchid Island Capital by 8.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 716,584 shares of the real estate investment trust’s stock valued at $5,389,000 after buying an additional 52,929 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Orchid Island Capital during the first quarter worth approximately $688,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Orchid Island Capital in the first quarter valued at approximately $717,000. Finally, Wolverine Asset Management LLC boosted its position in shares of Orchid Island Capital by 416.3% in the first quarter. Wolverine Asset Management LLC now owns 798,360 shares of the real estate investment trust’s stock valued at $6,004,000 after acquiring an additional 643,717 shares during the period. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital Stock Performance

Orchid Island Capital stock traded up $0.02 during midday trading on Thursday, reaching $7.33. 348,874 shares of the company were exchanged, compared to its average volume of 4,147,313. The firm’s 50-day simple moving average is $7.23 and its 200-day simple moving average is $7.14. Orchid Island Capital, Inc. has a 1 year low of $5.68 and a 1 year high of $9.01. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.95 and a beta of 1.57.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $77.52 million for the quarter, compared to analysts’ expectations of $25.33 million. On average, analysts forecast that Orchid Island Capital, Inc. will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 30th. Investors of record on Friday, November 28th will be given a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a dividend yield of 19.7%. The ex-dividend date of this dividend is Friday, November 28th. Orchid Island Capital’s dividend payout ratio is currently 293.88%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ORC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orchid Island Capital in a report on Wednesday, October 8th. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Orchid Island Capital presently has a consensus 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.