State Street Corp Buys 123,239 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

State Street Corp increased its stake in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,073,495 shares of the real estate investment trust’s stock after buying an additional 123,239 shares during the quarter. State Street Corp owned 1.37% of Orchid Island Capital worth $8,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ORC. Global Retirement Partners LLC raised its stake in Orchid Island Capital by 2.1% during the third quarter. Global Retirement Partners LLC now owns 63,109 shares of the real estate investment trust’s stock worth $519,000 after acquiring an additional 1,305 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Orchid Island Capital by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 1,422 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Orchid Island Capital by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 70,444 shares of the real estate investment trust’s stock worth $588,000 after purchasing an additional 1,904 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Orchid Island Capital during the 2nd quarter valued at about $28,000. Finally, Rhumbline Advisers lifted its holdings in Orchid Island Capital by 8.7% during the 2nd quarter. Rhumbline Advisers now owns 84,740 shares of the real estate investment trust’s stock valued at $707,000 after purchasing an additional 6,796 shares during the last quarter. Institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Trading Down 0.3 %

Shares of Orchid Island Capital stock opened at $7.85 on Friday. The stock has a market capitalization of $626.82 million, a price-to-earnings ratio of 7.48 and a beta of 1.84. The firm’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $8.10. Orchid Island Capital, Inc. has a 1-year low of $7.41 and a 1-year high of $9.08.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). During the same period in the prior year, the business earned ($0.28) EPS. As a group, equities research analysts predict that Orchid Island Capital, Inc. will post -0.25 EPS for the current year.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 18.34%. Orchid Island Capital’s dividend payout ratio is 137.14%.

Orchid Island Capital Company 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.