Wolverine Asset Management LLC Has $1.78 Million Stock Holdings in Orchid Island Capital, Inc. $ORC

Wolverine Asset Management LLC trimmed its position in Orchid Island Capital, Inc. (NYSE:ORC) by 53.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 253,686 shares of the real estate investment trust’s stock after selling 296,815 shares during the period. Wolverine Asset Management LLC owned about 0.17% of Orchid Island Capital worth $1,778,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in ORC. Nisa Investment Advisors LLC increased its position in Orchid Island Capital by 313.0% in the third quarter. Nisa Investment Advisors LLC now owns 207,548 shares of the real estate investment trust’s stock worth $1,480,000 after purchasing an additional 157,300 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Orchid Island Capital during the 2nd quarter worth approximately $1,027,000. Financial Gravity Companies Inc. acquired a new stake in shares of Orchid Island Capital during the 2nd quarter worth approximately $644,000. Swiss National Bank bought a new stake in shares of Orchid Island Capital during the second quarter worth approximately $1,417,000. Finally, Cetera Investment Advisers lifted its holdings in Orchid Island Capital by 58.4% in the second quarter. Cetera Investment Advisers now owns 326,071 shares of the real estate investment trust’s stock valued at $2,286,000 after buying an additional 120,203 shares during the period. Institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Stock Up 2.7%

Shares of NYSE ORC opened at $8.34 on Friday. Orchid Island Capital, Inc. has a twelve month low of $5.68 and a twelve month high of $9.01. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 17.02 and a beta of 1.67. The company’s fifty day moving average is $7.35 and its 200-day moving average is $7.24.

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

Orchid Island Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.12 per share. This represents a c) annualized dividend and a yield of 17.3%. The ex-dividend date is Friday, January 30th. Orchid Island Capital’s dividend payout ratio (DPR) is 293.88%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ORC shares. Wall Street Zen raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Orchid Island Capital in a research note on Monday, December 29th. Finally, Compass Point began coverage on Orchid Island Capital in a research note on Monday, December 15th. They issued a “neutral” rating and a $7.50 target price on the stock. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $7.50.

Orchid Island Capital Profile

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.