Orchid Island Capital, Inc. (NYSE:ORC – Get Rating) declared a monthly dividend on Wednesday, April 13, Zacks reports. Shareholders of record on Friday, April 29 will receive a dividend of 0.045 per share from the REIT on Friday, May 27. This represents a dividend of $0.54 on an annualized basis and a dividend yield of 17.59%. The ex-dividend date is Thursday, April 28.
Orchid Island Capital has a payout ratio of 70.1%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect Orchid Island Capital to earn $0.71 per share next year, meaning the company should continue to be able to cover its $0 annual dividend. $54 with an expected future payout ratio of 76.1%.
NYSE ORC shares opened at $3.07 on Friday. The stock has a market capitalization of $543.36 million, a PE ratio of -5.29 and a beta of 1.34. The company has a fifty-day moving average of $3.42 and a two-hundred-day moving average of $4.20. Orchid Island Capital has a 52-week low of $2.98 and a 52-week high of $5.91.
A number of hedge funds have recently changed their positions in the stock. Schonfeld Strategic Advisors LLC increased its position in shares of Orchid Island Capital by 32.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 163,600 shares of the real estate investment trust worth $736,000 after purchasing an additional 39,700 shares during the period. Rhumbline Advisers increased its stake in Orchid Island Capital by 9.5% in Q4. Rhumbline Advisers now owns 158,423 shares of the real estate investment trust worth $713,000 after acquiring an additional 13,772 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Orchid Island Capital by 4.1% in the 4th 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 in the last quarter. Bank of America Corp DE increased its stake in Orchid Island Capital by 6.3% in the fourth quarter. Bank of America Corp DE now owns 94,331 shares of the real estate investment trust valued at $424,000 after acquiring 5,599 additional shares last quarter. Finally, Deutsche Bank AG increased its stake in Orchid Island Capital by 16.2% in the 4th quarter. Deutsche Bank AG now owns 82,597 shares of the real estate investment trust worth $372,000 after acquiring an additional 11,503 shares last quarter. Hedge funds and other institutional investors hold 25.24% of the company’s shares.
ORC has been the subject of a number of analyst reports. Zacks Investment Research upgraded Orchid Island Capital from a “hold” rating to a “sell” rating in a Friday, April 8 report. StockNews.com picked up coverage from Orchid Island Capital in a Thursday, March 31 report. They issued a “sell” rating for the company. Jonestrading upgraded Orchid Island Capital from a “buy” rating to a “hold” rating in a Friday, February 25 report. Finally, JMP Securities took over coverage of Orchid Island Capital in a report on Wednesday, January 12. They issued a “market performance” rating for the company. Two analysts rated the stock with a sell rating and two gave the company a hold rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.25.
Orchid Island Capital Company Profile (Get an evaluation)
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.
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