Orchid Island Capital Inc (ORC) Position Boosted by State Street Corp

State Street Corp increased its position in shares of Orchid Island Capital Inc (NYSE:ORC) by 19.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 551,177 shares of the real estate investment trust’s stock after buying an additional 90,106 shares during the period. State Street Corp owned 1.22% of Orchid Island Capital worth $5,436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ORC. Alliancebernstein L.P. increased its holdings in Orchid Island Capital by 44.4% during the first 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 last quarter. Vanguard Group Inc. increased its holdings in Orchid Island Capital by 25.4% during the first 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 last quarter. Geode Capital Management LLC increased its holdings in Orchid Island Capital by 71.7% during the first quarter. Geode Capital Management LLC now owns 240,370 shares of the real estate investment trust’s stock worth $2,401,000 after buying an additional 100,374 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Orchid Island Capital by 34.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 49,659 shares of the real estate investment trust’s stock worth $497,000 after buying an additional 12,700 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Orchid Island Capital by 151.7% during the first quarter. Bank of America Corp DE now owns 13,067 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 7,875 shares during the last quarter. Institutional investors and hedge funds own 30.37% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Orchid Island Capital from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a report on Thursday, November 2nd. ValuEngine downgraded shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, BidaskClub upgraded shares of Orchid Island Capital from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.00.

Orchid Island Capital Inc (NYSE ORC) traded up $0.01 during trading hours on Tuesday, hitting $9.53. 748,300 shares of the company’s stock traded hands, compared to its average volume of 937,013. Orchid Island Capital Inc has a 12-month low of $9.18 and a 12-month high of $12.60.

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 30th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.68 annualized dividend and a dividend yield of 17.63%. Orchid Island Capital’s dividend payout ratio is currently -289.65%.

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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.

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

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