Orchid Island Capital, Inc. (NYSE:ORC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 8.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,740 shares of the real estate investment trust’s stock after purchasing an additional 6,796 shares during the period. Rhumbline Advisers owned 0.16% of Orchid Island Capital worth $707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ORC. EMG Holdings L.P. acquired a new position in Orchid Island Capital during the 4th quarter valued at about $4,364,000. Van ECK Associates Corp grew its stake in shares of Orchid Island Capital by 25.0% during the second quarter. Van ECK Associates Corp now owns 498,079 shares of the real estate investment trust’s stock worth $4,154,000 after acquiring an additional 99,713 shares during the last quarter. Significant Wealth Partners LLC increased its holdings in shares of Orchid Island Capital by 266.8% during the first quarter. Significant Wealth Partners LLC now owns 459,194 shares of the real estate investment trust’s stock valued at $4,101,000 after acquiring an additional 334,002 shares in the last quarter. TrueMark Investments LLC purchased a new position in shares of Orchid Island Capital in the 2nd quarter valued at approximately $3,194,000. Finally, CastleKnight Management LP acquired a new stake in Orchid Island Capital in the 4th quarter worth approximately $1,791,000. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Trading Up 2.5 %

Shares of NYSE:ORC opened at $8.12 on Wednesday. Orchid Island Capital, Inc. has a twelve month low of $5.90 and a twelve month high of $9.11. The company has a market cap of $429.88 million, a PE ratio of -15.31 and a beta of 1.85. The company’s 50 day moving average is $8.20 and its 200 day moving average is $8.42.

Orchid Island Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.74%. Orchid Island Capital’s payout ratio is currently -271.70%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th. Janney Montgomery Scott began coverage on Orchid Island Capital in a research note on Thursday, June 6th. They issued a “buy” rating and a $9.50 target price for the company.

About Orchid Island Capital

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.