Cetera Investment Advisers boosted its stake in shares of Orchid Island Capital, Inc. (NYSE:ORC – Free Report) by 10.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,678 shares of the real estate investment trust’s stock after purchasing an additional 17,029 shares during the quarter. Cetera Investment Advisers owned approximately 0.35% of Orchid Island Capital worth $1,532,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ORC. Allspring Global Investments Holdings LLC bought a new stake in Orchid Island Capital during the 2nd quarter valued at $28,000. PNC Financial Services Group Inc. raised its stake in shares of Orchid Island Capital by 1,054.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,062 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 3,710 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of Orchid Island Capital by 101.8% in the 1st quarter. EntryPoint Capital LLC now owns 11,808 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 5,958 shares in the last quarter. Worth Asset Management LLC bought a new stake in shares of Orchid Island Capital in the 2nd quarter worth $123,000. Finally, AQR Capital Management LLC acquired a new position in shares of Orchid Island Capital in the 2nd quarter worth $134,000. Institutional investors and hedge funds own 32.74% of the company’s stock.
Analyst Ratings Changes
Separately, JMP Securities reissued a “market perform” rating on shares of Orchid Island Capital in a research report on Wednesday, August 28th.
Orchid Island Capital Stock Up 0.8 %
Shares of NYSE:ORC opened at $7.92 on Wednesday. The business has a 50 day moving average price of $8.11 and a 200 day moving average price of $8.33. Orchid Island Capital, Inc. has a twelve month low of $5.90 and a twelve month high of $9.08. The company has a market cap of $419.55 million, a price-to-earnings ratio of -14.94 and a beta of 1.85.
Orchid Island Capital Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a $0.12 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 18.18%. Orchid Island Capital’s dividend payout ratio is currently -271.70%.
About Orchid Island Capital
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.
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