Bogart Wealth LLC Purchases 1,540 Shares of Orchid Island Capital, Inc. $ORC

Bogart Wealth LLC grew its holdings in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 64.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,940 shares of the real estate investment trust’s stock after purchasing an additional 1,540 shares during the quarter. Bogart Wealth LLC’s holdings in Orchid Island Capital were worth $28,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ORC. Russell Investments Group Ltd. boosted its holdings in Orchid Island Capital by 52.1% in the 1st quarter. Russell Investments Group Ltd. now owns 9,379 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 3,214 shares during the period. US Bancorp DE lifted its position in shares of Orchid Island Capital by 1,123.1% during the first quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 3,504 shares in the last quarter. Rogco LP bought a new position in shares of Orchid Island Capital in the first quarter worth $28,000. Cetera Investment Advisers boosted its holdings in shares of Orchid Island Capital by 2.4% in the first quarter. Cetera Investment Advisers now owns 205,868 shares of the real estate investment trust’s stock worth $1,548,000 after acquiring an additional 4,917 shares during the period. Finally, State of Wyoming grew its position in shares of Orchid Island Capital by 13.2% in the first quarter. State of Wyoming now owns 55,275 shares of the real estate investment trust’s stock valued at $416,000 after purchasing an additional 6,460 shares in the last quarter. Institutional investors own 32.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ORC. Wall Street Zen cut Orchid Island Capital from a “hold” rating to a “strong sell” rating in a report on Saturday, July 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Orchid Island Capital in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Orchid Island Capital currently has an average rating of “Reduce”.

Orchid Island Capital Stock Down 0.3%

Orchid Island Capital stock opened at $7.49 on Wednesday. Orchid Island Capital, Inc. has a 52 week low of $5.68 and a 52 week high of $9.01. The business has a 50-day simple moving average of $7.13 and a 200 day simple moving average of $7.03. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 37.43 and a beta of 1.53.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The company had revenue of $23.15 million during the quarter, compared to the consensus estimate of $23.25 million. On average, 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 business also recently announced a monthly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, October 31st will be given a $0.12 dividend. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a yield of 19.2%. Orchid Island Capital’s payout ratio is 720.00%.

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.