Stratos Wealth Partners LTD. bought a new position in Orchid Island Capital, Inc. (NYSE:ORC) during the second quarter, Holdings Channel reports. The institutional investor bought 13,600 shares of the real estate investment trust’s stock, valued at approximately $134,000.

Several other hedge funds have also added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC increased its stake in shares of Orchid Island Capital by 1.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,398 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 205 shares during the period. TFS Capital LLC purchased a new stake in shares of Orchid Island Capital during the first quarter valued at approximately $115,000. Bank of America Corp DE increased its stake in shares of Orchid Island Capital by 151.7% in the first quarter. Bank of America Corp DE now owns 13,067 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 7,875 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Orchid Island Capital during the second quarter valued at approximately $160,000. Finally, American International Group Inc. increased its stake in shares of Orchid Island Capital by 58.1% in the first quarter. American International Group Inc. now owns 18,606 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 6,836 shares during the period. 20.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Orchid Island Capital, Inc. (NYSE ORC) opened at 9.58 on Friday. The stock’s market capitalization is $434.00 million. The company’s 50-day moving average is $9.82 and its 200 day moving average is $10.33. Orchid Island Capital, Inc. has a 12 month low of $9.18 and a 12 month high of $12.60.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Monday, July 31st. The real estate investment trust reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.68. Equities research analysts predict that Orchid Island Capital, Inc. will post $1.09 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 31st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.68 dividend on an annualized basis and a yield of 17.54%. Orchid Island Capital’s dividend payout ratio is presently -2,799.53%.

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Several brokerages recently commented on ORC. TheStreet downgraded shares of Orchid Island Capital from a “c” rating to a “d” rating in a research report on Monday, July 31st. BidaskClub downgraded shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.

In other news, Director W Coleman Bitting bought 2,912 shares of Orchid Island Capital stock in a transaction on Monday, June 19th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $29,411.20. Following the completion of the acquisition, the director now owns 18,650 shares of the company’s stock, valued at approximately $188,365. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.88% of the company’s stock.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.

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Institutional Ownership by Quarter for Orchid Island Capital (NYSE:ORC)

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