Geode Capital Management LLC Acquires 177,357 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

Geode Capital Management LLC lifted its holdings in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,827,479 shares of the real estate investment trust's stock after buying an additional 177,357 shares during the period. Geode Capital Management LLC owned about 2.29% of Orchid Island Capital worth $14,221,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. McIlrath & Eck LLC purchased a new stake in Orchid Island Capital during the third quarter valued at approximately $58,000. Proficio Capital Partners LLC purchased a new stake in Orchid Island Capital during the 4th quarter valued at $82,000. New Age Alpha Advisors LLC bought a new stake in Orchid Island Capital in the fourth quarter worth $127,000. Virtu Financial LLC bought a new stake in Orchid Island Capital in the third quarter worth $152,000. Finally, Geneos Wealth Management Inc. purchased a new position in Orchid Island Capital during the fourth quarter worth $176,000. Institutional investors own 32.74% of the company's stock.

Orchid Island Capital Stock Up 2.4 %

Shares of Orchid Island Capital stock opened at $6.55 on Monday. The stock's fifty day moving average is $7.80 and its two-hundred day moving average is $7.87. Orchid Island Capital, Inc. has a 52 week low of $5.69 and a 52 week high of $9.01. The company has a market capitalization of $610.61 million, a PE ratio of 10.91 and a beta of 1.68.

Orchid Island Capital (NYSE:ORC - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.08. As a group, research analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 29th. Investors of record on Wednesday, April 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.44 annualized dividend and a yield of 22.00%. Orchid Island Capital's dividend payout ratio (DPR) is currently 240.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JMP Securities restated a "market perform" rating on shares of Orchid Island Capital in a report on Thursday, January 23rd. StockNews.com lowered shares of Orchid Island Capital from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th.

Orchid Island Capital Company 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.

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