JPMorgan Chase & Co. Raises Stock Holdings in Orchid Island Capital, Inc. (NYSE:ORC)

JPMorgan Chase & Co. raised its stake in Orchid Island Capital, Inc. (NYSE:ORC) by 89.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,525 shares of the real estate investment trust’s stock after buying an additional 29,073 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of Orchid Island Capital worth $506,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ORC. McIlrath & Eck LLC purchased a new stake in shares of Orchid Island Capital in the 3rd quarter valued at $58,000. Quadrature Capital Ltd acquired a new position in Orchid Island Capital in the 3rd quarter valued at about $90,000. Prairie Sky Financial Group LLC purchased a new stake in Orchid Island Capital during the third quarter worth about $105,000. Intech Investment Management LLC acquired a new stake in shares of Orchid Island Capital during the third quarter worth about $121,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Orchid Island Capital during the second quarter worth about $134,000. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Trading Up 0.9 %

NYSE:ORC opened at $7.98 on Wednesday. Orchid Island Capital, Inc. has a 12-month low of $7.41 and a 12-month high of $9.08. The firm has a market cap of $636.80 million, a PE ratio of 7.60 and a beta of 1.82. The stock has a fifty day moving average price of $7.89 and a 200 day moving average price of $8.01.

Orchid Island Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, January 31st will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 18.06%. The ex-dividend date of this dividend is Friday, January 31st. Orchid Island Capital’s payout ratio is presently 137.14%.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, January 23rd.

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.