Vanguard Group Inc. increased its holdings in shares of Orchid Island Capital, Inc. (NYSE:ORC – Free Report) by 23.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,767,670 shares of the real estate investment trust’s stock after buying an additional 1,850,221 shares during the period. Vanguard Group Inc. owned about 5.33% of Orchid Island Capital worth $70,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Prudential Financial Inc. lifted its position in shares of Orchid Island Capital by 17.8% during the 2nd quarter. Prudential Financial Inc. now owns 13,189 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 1,995 shares in the last quarter. Barclays PLC lifted its position in shares of Orchid Island Capital by 1.0% during the 3rd quarter. Barclays PLC now owns 203,626 shares of the real estate investment trust’s stock valued at $1,427,000 after buying an additional 2,016 shares in the last quarter. CWM LLC lifted its position in shares of Orchid Island Capital by 123.1% during the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 2,502 shares in the last quarter. Strs Ohio lifted its position in shares of Orchid Island Capital by 14.8% during the 3rd quarter. Strs Ohio now owns 23,300 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 3,000 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Orchid Island Capital by 12.0% during the 3rd quarter. Creative Planning now owns 29,642 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 3,187 shares in the last quarter. Hedge funds and other institutional investors own 32.74% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $7.50.
Orchid Island Capital Trading Down 0.5%
Shares of ORC stock opened at $6.93 on Friday. The stock’s fifty day moving average is $7.09 and its two-hundred day moving average is $7.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 509.34 and a current ratio of 509.34. The firm has a market capitalization of $1.39 billion, a P/E ratio of 9.23 and a beta of 1.57. Orchid Island Capital, Inc. has a fifty-two week low of $6.62 and a fifty-two week high of $8.40.
Orchid Island Capital (NYSE:ORC – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of ($12.56) million during the quarter, compared to analysts’ expectations of $33.03 million.
Orchid Island Capital Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 17.3%. Orchid Island Capital’s dividend payout ratio (DPR) is 160.00%.
About Orchid Island Capital
Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.
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