Allspring Global Investments Holdings LLC Takes Position in Orchid Island Capital, Inc. (NYSE:ORC)

Allspring Global Investments Holdings LLC acquired a new position in Orchid Island Capital, Inc. (NYSE:ORC) during the 2nd quarter, HoldingsChannel reports. The fund acquired 3,321 shares of the real estate investment trust’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Orchid Island Capital during the 1st quarter worth approximately $26,000. Russell Investments Group Ltd. lifted its holdings in Orchid Island Capital by 310.0% in the fourth quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 2,446 shares during the period. Parallel Advisors LLC boosted its position in Orchid Island Capital by 216.4% during the fourth 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 during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Orchid Island Capital by 1,054.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,062 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 3,710 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Orchid Island Capital by 272.6% in 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 purchasing an additional 3,094 shares during the period. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital Trading Up 0.4 %

Shares of NYSE ORC opened at $8.19 on Tuesday. The firm has a market capitalization of $584.27 million, a P/E ratio of -15.45 and a beta of 1.85. The firm’s 50-day moving average price is $8.25 and its 200-day moving average price is $8.44. Orchid Island Capital, Inc. has a 1-year low of $5.90 and a 1-year high of $9.62.

Orchid Island Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 17.58%. The ex-dividend date of this dividend is Friday, August 30th. Orchid Island Capital’s dividend payout ratio (DPR) is currently -271.70%.

Analyst Ratings Changes

Several equities research analysts recently commented on ORC shares. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th. Janney Montgomery Scott started coverage on shares of Orchid Island Capital in a research report on Thursday, June 6th. They set a “buy” rating and a $9.50 price objective for the company.

Orchid Island Capital 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.