Russell Investments Group Ltd. Raises Position in Orchid Island Capital, Inc. (NYSE:ORC)

Russell Investments Group Ltd. boosted its position in Orchid Island Capital, Inc. (NYSE:ORC) by 310.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,235 shares of the real estate investment trust’s stock after acquiring an additional 2,446 shares during the quarter. Russell Investments Group Ltd.’s holdings in Orchid Island Capital were worth $27,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio grew its stake in shares of Orchid Island Capital by 15.1% during the fourth quarter. Strs Ohio now owns 10,700 shares of the real estate investment trust’s stock valued at $90,000 after buying an additional 1,400 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Orchid Island Capital by 12.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 12,600 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 1,420 shares during the last quarter. Jump Financial LLC purchased a new position in Orchid Island Capital in the 3rd quarter worth approximately $112,000. SG Americas Securities LLC lifted its position in Orchid Island Capital by 56.4% in the fourth quarter. SG Americas Securities LLC now owns 29,625 shares of the real estate investment trust’s stock valued at $250,000 after purchasing an additional 10,678 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in shares of Orchid Island Capital during the fourth quarter valued at approximately $327,000. Institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Trading Up 1.9 %

Orchid Island Capital stock opened at $8.57 on Friday. The firm has a 50-day moving average of $8.58 and a 200-day moving average of $8.32. The firm has a market cap of $453.95 million, a P/E ratio of -16.17 and a beta of 1.82. Orchid Island Capital, Inc. has a 1-year low of $5.90 and a 1-year high of $11.27.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). During the same quarter in the previous year, the business earned ($0.24) EPS. Research analysts forecast that Orchid Island Capital, Inc. will post -0.36 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, May 31st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.44 annualized dividend and a yield of 16.80%. Orchid Island Capital’s dividend payout ratio (DPR) is presently -271.70%.

Wall Street Analysts Forecast Growth

Several 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 Thursday, April 18th. StockNews.com raised shares of Orchid Island Capital to a “sell” rating in a research note on Friday, February 9th.

About Orchid Island Capital

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.