Orchid Island Capital, Inc. (NYSE:ORC) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 25.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 498,079 shares of the real estate investment trust’s stock after purchasing an additional 99,713 shares during the period. Van ECK Associates Corp owned 0.94% of Orchid Island Capital worth $4,154,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ORC. EMG Holdings L.P. purchased a new stake in shares of Orchid Island Capital during the fourth quarter valued at $4,364,000. Russell Investments Group Ltd. grew its holdings in shares of Orchid Island Capital by 310.0% during the fourth quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 2,446 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Orchid Island Capital during the first quarter valued at $152,000. Quadrant Capital Group LLC grew its holdings in shares of Orchid Island Capital by 272.6% during the fourth quarter. Quadrant Capital Group LLC now owns 4,229 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 3,094 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 $327,000. 32.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ORC has been the topic of a number of research analyst reports. Janney Montgomery Scott initiated coverage on shares of Orchid Island Capital in a report on Thursday, June 6th. They set a “buy” rating and a $9.50 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Wednesday, August 28th.

Orchid Island Capital Stock Performance

NYSE:ORC opened at $8.16 on Thursday. Orchid Island Capital, Inc. has a one year low of $5.90 and a one year high of $9.62. The firm has a market cap of $581.78 million, a price-to-earnings ratio of -15.39 and a beta of 1.85. The firm’s fifty day moving average is $8.27 and its two-hundred day moving average is $8.45.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 17.66%. The ex-dividend date of this dividend is Friday, August 30th. Orchid Island Capital’s payout ratio is -271.70%.

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.