Orchid Island Capital, Inc. (NYSE:ORC – Get Rating) saw unusually high trading volume on Friday. Approximately 149,000 shares were traded during trading, down 93% from the previous session’s volume of 2,154,887 shares. The stock last traded at $2.89 and previously closed at $2.95.
Analyst upgrades and downgrades
The ORC has been the subject of several recent analyst reports. StockNews.com raised shares of Orchid Island Capital to a “sell” rating in a research note on Friday. LADENBURG THALM/SH SH downgraded shares of Orchid Island Capital to a ‘neutral’ rating in a Monday August 15 research note.
Orchid Island share capital down 2.4%
The company has a market capitalization of $507.60 million, a PE ratio of -2.30 and a beta of 1.31. The stock’s 50-day simple moving average is $2.98 and its two-hundred-day simple moving average is $3.16.
Orchid Island Capital shares are expected to consolidate before the market opens on Wednesday, August 31. The 1-5 reverse split was announced on Wednesday, August 31. The number of shares held by shareholders will be adjusted after the closing bell on Wednesday August 31.
Orchid Island’s capital increases its dividend
The company also recently declared a monthly dividend, which will be paid on Wednesday, September 28. Shareholders of record on Wednesday August 31 will receive a dividend of $0.16 per share. The ex-date of this dividend is Tuesday, August 30. This represents a dividend of $1.92 on an annualized basis and a yield of 66.67%. This is an increase from Orchid Island Capital’s previous monthly dividend of $0.05. Orchid Island Capital’s dividend payout ratio (DPR) is currently -43.20%.
Hedge funds weigh on Orchid Island Capital
Major investors have recently been buying and selling stocks. Advisor Group Holdings Inc. increased its position in shares of Orchid Island Capital by 0.9% in the first quarter. Advisor Group Holdings Inc. now owns 364,538 shares of the real estate investment trust worth $1,185,000 after acquiring 3,429 additional shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Orchid Island Capital by 13.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 32,760 shares of the real estate investment trust worth $93,000 after acquiring 3,900 additional shares in the last quarter. Titleist Asset Management LTD. increased its position in shares of Orchid Island Capital by 15.3% in the first quarter. Titleist Asset Management LTD. now owns 32,991 shares of the real estate investment trust worth $107,000 after acquiring 4,383 additional shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its position in shares of Orchid Island Capital by 27.8% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 20,470 shares of the real estate investment trust worth $58,000 after acquiring 4,449 additional shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Orchid Island Capital by 4.1% in the fourth quarter. Allianz Asset Management GmbH now owns 153,400 shares of the real estate investment trust worth $690,000 after acquiring an additional 6,000 shares last quarter. Hedge funds and other institutional investors hold 21.81% of the company’s shares.
About Orchid Island Capital
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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 mortgages, referred to as Agency RMBS. Its portfolio includes traditional transfer agency RMBS, such as mortgage transfer certificates and secured mortgage bonds; and structured agency RMBS comprising interest only securities, inverse interest only securities and principal only securities.
Further reading
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