Van ECK Associates Corp Has $3.40 Million Stock Position in Orchid Island Capital, Inc. (NYSE:ORC)

Van ECK Associates Corp raised its position in Orchid Island Capital, Inc. (NYSE:ORC) by 12.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 403,659 shares of the real estate investment trust’s stock after purchasing an additional 45,279 shares during the quarter. Van ECK Associates Corp’s holdings in Orchid Island Capital were worth $3,403,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ORC. Russell Investments Group Ltd. boosted its holdings in shares of Orchid Island Capital by 310.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,446 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Orchid Island Capital during the fourth quarter worth $327,000. Significant Wealth Partners LLC acquired a new stake in shares of Orchid Island Capital in the fourth quarter valued at $1,055,000. Strs Ohio raised its holdings in shares of Orchid Island Capital by 15.1% in 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. Finally, Nisa Investment Advisors LLC lifted its position in Orchid Island Capital by 16.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 75,040 shares of the real estate investment trust’s stock worth $633,000 after buying an additional 10,439 shares in the last quarter. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Stock Performance

Orchid Island Capital stock opened at $8.49 on Tuesday. Orchid Island Capital, Inc. has a 1 year low of $5.90 and a 1 year high of $11.27. The company’s 50-day moving average is $8.59 and its two-hundred day moving average is $8.12.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). During the same quarter last year, the business earned ($0.24) earnings per share. As a group, equities analysts expect that Orchid Island Capital, Inc. will post -0.36 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a $0.12 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.44 dividend on an annualized basis and a yield of 16.96%. Orchid Island Capital’s dividend payout ratio is presently -271.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, April 18th. StockNews.com raised 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.