The Manufacturers Life Insurance Company Buys 5,945 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

The Manufacturers Life Insurance Company boosted its stake in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 29.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,466 shares of the real estate investment trust’s stock after buying an additional 5,945 shares during the period. The Manufacturers Life Insurance Company’s holdings in Orchid Island Capital were worth $218,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Orchid Island Capital in the 2nd quarter worth about $28,000. Prairie Sky Financial Group LLC bought a new position in shares of Orchid Island Capital during the third quarter valued at approximately $105,000. Intech Investment Management LLC bought a new stake in shares of Orchid Island Capital during the 3rd quarter worth approximately $121,000. AQR Capital Management LLC bought a new position in shares of Orchid Island Capital in the second quarter worth about $134,000. Finally, Quest Partners LLC purchased a new position in Orchid Island Capital in the 2nd quarter worth about $214,000. Institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Trading Up 0.6 %

Shares of Orchid Island Capital stock opened at $8.09 on Tuesday. The stock’s fifty day moving average price is $7.85 and its 200-day moving average price is $8.13. The firm has a market cap of $645.59 million, a P/E ratio of 7.66 and a beta of 1.84. Orchid Island Capital, Inc. has a 12 month low of $7.41 and a 12 month high of $9.08.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). During the same quarter in the prior year, the business posted ($0.28) earnings per share. Analysts forecast that Orchid Island Capital, Inc. will post -0.25 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.81%. The ex-dividend date of this dividend is Tuesday, December 31st. Orchid Island Capital’s payout ratio is currently 137.14%.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th.

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.