Millennium Management LLC Purchases New Stake in Orchid Island Capital (ORC)

Millennium Management LLC purchased a new position in shares of Orchid Island Capital (NYSE:ORC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 27,190 shares of the real estate investment trust’s stock, valued at approximately $252,000. Millennium Management LLC owned 0.05% of Orchid Island Capital as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Advisor Group Inc. increased its position in Orchid Island Capital by 10.7% during the fourth quarter. Advisor Group Inc. now owns 83,717 shares of the real estate investment trust’s stock worth $777,000 after acquiring an additional 8,105 shares during the period. California State Teachers Retirement System increased its position in Orchid Island Capital by 16.3% during the third quarter. California State Teachers Retirement System now owns 68,749 shares of the real estate investment trust’s stock worth $701,000 after acquiring an additional 9,630 shares during the period. Deutsche Bank AG increased its position in Orchid Island Capital by 9.9% during the fourth quarter. Deutsche Bank AG now owns 109,664 shares of the real estate investment trust’s stock worth $1,016,000 after acquiring an additional 9,899 shares during the period. Wells Fargo & Company MN increased its position in Orchid Island Capital by 31.3% during the third quarter. Wells Fargo & Company MN now owns 44,576 shares of the real estate investment trust’s stock worth $454,000 after acquiring an additional 10,637 shares during the period. Finally, Teachers Advisors LLC increased its position in Orchid Island Capital by 16.7% during the fourth quarter. Teachers Advisors LLC now owns 78,493 shares of the real estate investment trust’s stock worth $728,000 after acquiring an additional 11,248 shares during the period. 30.70% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital opened at $7.37 on Wednesday, MarketBeat.com reports. Orchid Island Capital has a 12 month low of $6.77 and a 12 month high of $10.52. The stock has a market capitalization of $377.12 million, a price-to-earnings ratio of 8.77 and a beta of 0.32.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Friday, April 27th. The real estate investment trust reported ($0.31) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.66). equities research analysts predict that Orchid Island Capital will post 1.49 earnings per share for the current year.

Orchid Island Capital declared that its board has approved a stock repurchase plan on Thursday, February 8th that permits the company to repurchase 4,520,000 outstanding shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a monthly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 31st will be issued a $0.09 dividend. This represents a $1.08 annualized dividend and a yield of 14.65%. The ex-dividend date is Wednesday, May 30th. Orchid Island Capital’s dividend payout ratio is currently 128.57%.

ORC has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Orchid Island Capital from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 14th. ValuEngine lowered shares of Orchid Island Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd.

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.

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

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