State Street Corp Acquires 90,106 Shares of Orchid Island Capital Inc (ORC)

State Street Corp grew its position in shares of Orchid Island Capital Inc (NYSE:ORC) by 19.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 551,177 shares of the real estate investment trust’s stock after purchasing an additional 90,106 shares during the period. State Street Corp owned approximately 1.22% of Orchid Island Capital worth $5,436,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ORC. Vanguard Group Inc. increased its holdings in Orchid Island Capital by 25.4% in the first quarter. Vanguard Group Inc. now owns 1,134,132 shares of the real estate investment trust’s stock valued at $11,330,000 after buying an additional 229,968 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Orchid Island Capital by 336.1% during the second quarter. TIAA CREF Investment Management LLC now owns 244,351 shares of the real estate investment trust’s stock worth $2,409,000 after purchasing an additional 188,316 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 100,374 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Orchid Island Capital by 11.4% during the second quarter. Northern Trust Corp now owns 371,409 shares of the real estate investment trust’s stock worth $3,663,000 after purchasing an additional 38,040 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Orchid Island Capital by 121.4% during the second quarter. Advisor Group Inc. now owns 68,740 shares of the real estate investment trust’s stock worth $678,000 after purchasing an additional 37,693 shares during the last quarter. Institutional investors own 30.37% of the company’s stock.

Orchid Island Capital Inc (ORC) traded up $0.08 during trading hours on Thursday, hitting $9.54. 1,268,500 shares of the company traded hands, compared to its average volume of 939,352. Orchid Island Capital Inc has a 1-year low of $9.18 and a 1-year high of $12.60.

The firm also recently announced a monthly dividend, which was paid on Friday, December 8th. Investors of record on Thursday, November 30th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.68 annualized dividend and a dividend yield of 17.61%. Orchid Island Capital’s payout ratio is -289.65%.

ORC has been the topic of a number of research reports. Zacks Investment Research raised Orchid Island Capital from a “hold” rating to a “strong-buy” rating and set a $11.00 price target 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 research report on Tuesday, October 31st. Finally, BidaskClub upgraded Orchid Island Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. One equities 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 given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $11.00.

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About Orchid Island Capital

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.

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

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