Quest Partners LLC Purchases 98,723 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

Quest Partners LLC raised its stake in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 385.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 124,352 shares of the real estate investment trust's stock after purchasing an additional 98,723 shares during the quarter. Quest Partners LLC owned 0.16% of Orchid Island Capital worth $1,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Orchid Island Capital during the 2nd quarter valued at about $28,000. Prairie Sky Financial Group LLC bought a new position in Orchid Island Capital in the third quarter worth about $105,000. EntryPoint Capital LLC lifted its position in Orchid Island Capital by 101.8% during the first quarter. EntryPoint Capital LLC now owns 11,808 shares of the real estate investment trust's stock valued at $105,000 after buying an additional 5,958 shares during the period. Worth Asset Management LLC purchased a new stake in shares of Orchid Island Capital in the 2nd quarter worth about $123,000. Finally, AQR Capital Management LLC bought a new position in shares of Orchid Island Capital in the 2nd quarter worth about $134,000. 32.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a "market perform" rating on shares of Orchid Island Capital in a report on Wednesday, August 28th.

Orchid Island Capital Stock Up 0.5 %

Shares of NYSE:ORC traded up $0.04 on Thursday, hitting $7.86. 411,367 shares of the company traded hands, compared to its average volume of 1,611,661. The stock has a 50 day simple moving average of $7.94 and a 200-day simple moving average of $8.21. The company has a market cap of $616.34 million, a PE ratio of 7.44 and a beta of 1.85. Orchid Island Capital, Inc. has a 52 week low of $7.30 and a 52 week high of $9.08.

Orchid Island Capital (NYSE:ORC - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). During the same quarter in the prior year, the company posted ($0.28) EPS. As a group, sell-side analysts anticipate that Orchid Island Capital, Inc. will post -0.25 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 18.32%. The ex-dividend date is Friday, November 29th. Orchid Island Capital's dividend payout ratio (DPR) is presently 137.14%.

Orchid Island Capital Profile

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.