16,698 Shares in Orchid Island Capital, Inc. (ORC) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new position in shares of Orchid Island Capital, Inc. (NYSE:ORC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 16,698 shares of the real estate investment trust’s stock, valued at approximately $165,000.

A number of other hedge funds have also recently bought and sold shares of ORC. Wells Fargo & Company MN raised its stake in Orchid Island Capital by 11.4% during the 1st quarter. Wells Fargo & Company MN now owns 21,183 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 2,176 shares during the period. Bank of New York Mellon Corp raised its stake in Orchid Island Capital by 22.7% during the 1st quarter. Bank of New York Mellon Corp now owns 116,598 shares of the real estate investment trust’s stock worth $1,165,000 after buying an additional 21,558 shares during the period. American International Group Inc. raised its stake in Orchid Island Capital by 58.1% during the 1st quarter. American International Group Inc. now owns 18,606 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 6,836 shares during the period. Alliancebernstein L.P. raised its stake in Orchid Island Capital by 44.4% during the 1st quarter. Alliancebernstein L.P. now owns 19,200 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 5,900 shares during the period. Finally, Vanguard Group Inc. raised its stake in Orchid Island Capital by 25.4% during the 1st quarter. Vanguard Group Inc. now owns 1,134,132 shares of the real estate investment trust’s stock worth $11,330,000 after buying an additional 229,968 shares during the period. 23.20% of the stock is currently owned by institutional investors and hedge funds.

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Several analysts have recently commented on the company. Zacks Investment Research raised Orchid Island Capital from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research note on Thursday. ValuEngine downgraded Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub raised Orchid Island Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, TheStreet downgraded Orchid Island Capital from a “c” rating to a “d” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Orchid Island Capital has an average rating of “Buy” and a consensus price target of $11.00.

Shares of Orchid Island Capital, Inc. (NYSE ORC) opened at $9.72 on Monday. Orchid Island Capital, Inc. has a 52 week low of $9.18 and a 52 week high of $12.60.

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 10th. Stockholders of record on Tuesday, October 31st will be paid a $0.14 dividend. This represents a $1.68 annualized dividend and a dividend yield of 17.28%. The ex-dividend date of this dividend is Monday, October 30th. Orchid Island Capital’s dividend payout ratio (DPR) is presently -289.65%.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.

Want to see what other hedge funds are holding ORC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Orchid Island Capital, Inc. (NYSE:ORC).

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

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