IndexIQ Advisors LLC lifted its holdings in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 33.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,349 shares of the real estate investment trust’s stock after acquiring an additional 13,279 shares during the period. IndexIQ Advisors LLC owned 0.12% of Orchid Island Capital worth $544,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in Orchid Island Capital during the second quarter worth approximately $101,000. Bank of America Corp DE increased its position in Orchid Island Capital by 151.7% during the first quarter. Bank of America Corp DE now owns 13,067 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 7,875 shares during the period. Stratos Wealth Partners LTD. acquired a new position in Orchid Island Capital during the second quarter worth approximately $134,000. Voya Investment Management LLC acquired a new position in Orchid Island Capital during the second quarter worth approximately $145,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Orchid Island Capital in the third quarter valued at approximately $153,000. 23.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of Orchid Island Capital, Inc. (NYSE:ORC) opened at $9.80 on Tuesday. Orchid Island Capital, Inc. has a 1 year low of $9.18 and a 1 year high of $12.60.
The firm also recently declared a monthly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be issued a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 17.14%. The ex-dividend date of this dividend is Wednesday, November 29th. Orchid Island Capital’s dividend payout ratio is currently -289.65%.
A number of research firms recently weighed in on ORC. BidaskClub upgraded Orchid Island Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. TheStreet cut Orchid Island Capital from a “c” rating to a “d” rating in a report on Monday, July 31st. ValuEngine cut Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research raised Orchid Island Capital from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $11.00.
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Orchid Island Capital Profile
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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