JPMorgan Chase & Co. Sells 23,386 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

JPMorgan Chase & Co. decreased its holdings in Orchid Island Capital, Inc. (NYSE:ORC) by 38.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,139 shares of the real estate investment trust’s stock after selling 23,386 shares during the period. JPMorgan Chase & Co.’s holdings in Orchid Island Capital were worth $297,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Orchid Island Capital by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 4,238,780 shares of the real estate investment trust’s stock valued at $32,978,000 after buying an additional 456,209 shares during the last quarter. Founders Financial Alliance LLC boosted its holdings in shares of Orchid Island Capital by 9.1% during the 4th quarter. Founders Financial Alliance LLC now owns 139,563 shares of the real estate investment trust’s stock valued at $1,086,000 after acquiring an additional 11,649 shares during the last quarter. Inceptionr LLC grew its stake in shares of Orchid Island Capital by 227.2% in the fourth quarter. Inceptionr LLC now owns 41,863 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 29,070 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Orchid Island Capital during the fourth quarter valued at approximately $82,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Orchid Island Capital by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 663,655 shares of the real estate investment trust’s stock valued at $5,163,000 after purchasing an additional 77,435 shares during the period. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Analysts Set New Price Targets

ORC has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd. Jones Trading reaffirmed a “hold” rating on shares of Orchid Island Capital in a report on Wednesday. Finally, StockNews.com downgraded Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 27th.

Orchid Island Capital Trading Down 1.1 %

Shares of NYSE ORC opened at $7.00 on Friday. Orchid Island Capital, Inc. has a 12-month low of $5.69 and a 12-month high of $9.01. The firm has a market capitalization of $746.71 million, a price-to-earnings ratio of 11.67 and a beta of 1.54. The firm has a 50 day moving average of $7.46 and a 200 day moving average of $7.81.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $19.71 million for the quarter, compared to analysts’ expectations of $11.96 million. Sell-side analysts predict that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, April 30th will be given a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 20.57%. The ex-dividend date is Wednesday, April 30th. Orchid Island Capital’s payout ratio is 360.00%.

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.