StockNews.com Begins Coverage on Orchid Island Capital (NYSE:ORC)

StockNews.com began coverage on shares of Orchid Island Capital (NYSE:ORC – Get Rating) in a research report report published on Thursday. The brokerage issued a sell rating on the real estate investment trust’s stock.

Orchid Island Capital Stock Down 2.7 %

NYSE:ORC opened at $9.97 on Thursday. Orchid Island Capital has a 52-week low of $7.95 and a 52-week high of $17.15. The stock has a fifty day simple moving average of $11.50 and a 200-day simple moving average of $10.89.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Friday, March 31st will be given a $0.16 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 19.26%. The ex-dividend date is Thursday, March 30th. Orchid Island Capital’s dividend payout ratio is presently -26.12%.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors have recently modified their holdings of ORC. Bank of New York Mellon Corp raised its position in shares of Orchid Island Capital by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 476,111 shares of the real estate investment trust’s stock valued at $1,548,000 after buying an additional 28,074 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Orchid Island Capital by 178.8% in the first quarter. MetLife Investment Management LLC now owns 73,169 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 46,924 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Orchid Island Capital by 50.3% in the first quarter. Vanguard Group Inc. now owns 10,183,641 shares of the real estate investment trust’s stock valued at $33,097,000 after buying an additional 3,406,623 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Orchid Island Capital by 29.0% in the first quarter. Penserra Capital Management LLC now owns 60,851 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 13,680 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Orchid Island Capital by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 371,618 shares of the real estate investment trust’s stock valued at $1,208,000 after buying an additional 6,844 shares during the last quarter. Institutional investors and hedge funds own 34.32% of the company’s stock.

About Orchid Island Capital

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Orchid Island Capital, Inc operates as a specialty finance company, investing in residential mortgage-backed securities (RMBS). Its portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS. The traditional pass-through Agency RMBS include mortgage pass through certificates and collateralized mortgage obligations.