Voya Investment Management LLC Sells 1,621 Shares of Orchid Island Capital, Inc. $ORC

Voya Investment Management LLC cut its stake in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,394 shares of the real estate investment trust’s stock after selling 1,621 shares during the period. Voya Investment Management LLC’s holdings in Orchid Island Capital were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strs Ohio bought a new position in shares of Orchid Island Capital in the first quarter worth approximately $111,000. Westbourne Investments Inc. bought a new position in shares of Orchid Island Capital in the first quarter worth approximately $107,000. Integrity Alliance LLC. bought a new position in shares of Orchid Island Capital in the first quarter worth approximately $445,000. PharVision Advisers LLC bought a new position in shares of Orchid Island Capital in the first quarter worth approximately $157,000. Finally, Millennium Management LLC increased its position in shares of Orchid Island Capital by 234.9% in the first quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust’s stock worth $7,794,000 after purchasing an additional 726,907 shares during the last quarter. 32.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Orchid Island Capital from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Orchid Island Capital has a consensus rating of “Hold”.

Orchid Island Capital Price Performance

Shares of ORC opened at $7.19 on Thursday. The firm has a market cap of $1.05 billion, a P/E ratio of 35.93 and a beta of 1.53. The stock has a 50 day simple moving average of $7.11 and a two-hundred day simple moving average of $7.09. Orchid Island Capital, Inc. has a 1 year low of $5.68 and a 1 year high of $9.01.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $23.15 million during the quarter, compared to analysts’ expectations of $23.25 million. On average, equities analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Thursday, October 30th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.12 per share. This represents a dividend yield of 2,051.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Orchid Island Capital’s dividend payout ratio is 720.00%.

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.