Commonwealth Equity Services LLC Has $588,000 Stake in Orchid Island Capital, Inc. (NYSE:ORC)

Commonwealth Equity Services LLC grew its stake in Orchid Island Capital, Inc. (NYSE:ORC) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,444 shares of the real estate investment trust’s stock after purchasing an additional 1,904 shares during the period. Commonwealth Equity Services LLC owned about 0.13% of Orchid Island Capital worth $588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ORC. Price T Rowe Associates Inc. MD boosted its position in shares of Orchid Island Capital by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,909 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 1,642 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Orchid Island Capital by 216.4% during the 4th quarter. Parallel Advisors LLC now owns 3,433 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,348 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Orchid Island Capital by 310.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,446 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Orchid Island Capital by 272.6% during the 4th quarter. Quadrant Capital Group LLC now owns 4,229 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 3,094 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Orchid Island Capital during the 2nd quarter valued at about $28,000. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Wednesday, August 28th. Janney Montgomery Scott assumed coverage on shares of Orchid Island Capital in a research report on Thursday, June 6th. They set a “buy” rating and a $9.50 target price on the stock.

Orchid Island Capital Price Performance

Shares of ORC stock opened at $8.35 on Friday. Orchid Island Capital, Inc. has a 12-month low of $5.90 and a 12-month high of $9.36. The firm has a 50-day moving average price of $8.23 and a 200 day moving average price of $8.43.

Orchid Island Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be issued a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a yield of 17.25%. The ex-dividend date of this dividend is Monday, September 30th. Orchid Island Capital’s dividend payout ratio is currently -271.70%.

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.