Orchid Island Capital, Inc. (NYSE:ORC) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Orchid Island Capital, Inc. (NYSE:ORC) by 34.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,650,122 shares of the real estate investment trust’s stock after acquiring an additional 421,718 shares during the period. Geode Capital Management LLC’s holdings in Orchid Island Capital were worth $13,566,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Orchid Island Capital in the second quarter valued at $28,000. Quadrature Capital Ltd acquired a new stake in Orchid Island Capital in the third quarter valued at $90,000. Prairie Sky Financial Group LLC acquired a new stake in Orchid Island Capital in the third quarter valued at $105,000. Intech Investment Management LLC acquired a new stake in Orchid Island Capital in the third quarter valued at $121,000. Finally, AQR Capital Management LLC acquired a new stake in Orchid Island Capital in the second quarter valued at $134,000. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital Price Performance

Orchid Island Capital stock opened at $7.81 on Tuesday. Orchid Island Capital, Inc. has a 1-year low of $7.41 and a 1-year high of $9.08. The stock has a market cap of $623.63 million, a PE ratio of 7.44 and a beta of 1.84. The stock’s fifty day moving average is $7.85 and its two-hundred day moving average is $8.09.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). During the same period last year, the firm earned ($0.28) earnings per share. On average, research analysts expect that Orchid Island Capital, Inc. will post -0.25 earnings per share for the current fiscal year.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a dividend yield of 18.44%. The ex-dividend date is Tuesday, December 31st. Orchid Island Capital’s payout ratio is 137.14%.

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.