Orchid Island Capital Inc (NYSE:ORC) Director W Coleman Bitting purchased 1,930 shares of Orchid Island Capital stock in a transaction dated Wednesday, September 12th. The stock was acquired at an average price of $7.44 per share, with a total value of $14,359.20. Following the acquisition, the director now owns 19,014 shares in the company, valued at approximately $141,464.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Orchid Island Capital stock traded up $0.03 on Monday, reaching $6.99. The stock had a trading volume of 465,500 shares, compared to its average volume of 870,747. The company has a market cap of $377.25 million, a P/E ratio of 8.37 and a beta of 0.32. Orchid Island Capital Inc has a 1 year low of $6.77 and a 1 year high of $10.47.
Orchid Island Capital (NYSE:ORC) last released its earnings results on Friday, July 27th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.32). As a group, equities research analysts expect that Orchid Island Capital Inc will post 1.49 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 28th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 13.73%. The ex-dividend date is Thursday, September 27th. Orchid Island Capital’s dividend payout ratio is presently 114.29%.
A number of hedge funds and other institutional investors have recently made changes to their positions in ORC. Dynamic Technology Lab Private Ltd acquired a new position in shares of Orchid Island Capital in the 1st quarter valued at $150,000. Voya Investment Management LLC lifted its stake in shares of Orchid Island Capital by 42.4% in the 2nd quarter. Voya Investment Management LLC now owns 20,914 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 6,231 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of Orchid Island Capital by 57.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,090 shares of the real estate investment trust’s stock valued at $166,000 after purchasing an additional 8,029 shares during the period. Jane Street Group LLC acquired a new position in shares of Orchid Island Capital in the 1st quarter valued at $178,000. Finally, Hartford Investment Management Co. acquired a new position in shares of Orchid Island Capital in the 2nd quarter valued at $182,000. Institutional investors and hedge funds own 33.07% of the company’s stock.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Orchid Island Capital from a “strong sell” rating to a “sell” rating in a report on Thursday, September 6th. Zacks Investment Research downgraded shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd.
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 are backed primarily by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS; and structured Agency RMBS, including collateralized mortgage obligations, interest only securities, inverse interest only securities, and principal only securities.
Further Reading: Fundamental Analysis
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