Orchid Island Capital (NYSE:ORC) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Orchid Island Capital (NYSE:ORCFree Report) to a sell rating in a research note issued to investors on Friday.

Orchid Island Capital Stock Performance

Shares of ORC opened at $8.28 on Friday. The company’s 50 day moving average price is $8.38 and its 200 day moving average price is $8.36. Orchid Island Capital has a 52 week low of $5.90 and a 52 week high of $11.81. The company has a market capitalization of $433.03 million, a PE ratio of -10.09 and a beta of 1.81.

Orchid Island Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be given a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 17.40%. The ex-dividend date of this dividend is Tuesday, January 30th. Orchid Island Capital’s dividend payout ratio is -175.61%.

Institutional Trading of Orchid Island Capital

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Orchid Island Capital by 50.3% in the 1st quarter. Vanguard Group Inc. now owns 10,183,641 shares of the real estate investment trust’s stock valued at $33,097,000 after buying an additional 3,406,623 shares in the last quarter. Balyasny Asset Management LLC raised its stake in shares of Orchid Island Capital by 1,436.8% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,494,875 shares of the real estate investment trust’s stock valued at $12,258,000 after buying an additional 1,397,606 shares in the last quarter. Wolverine Asset Management LLC raised its stake in shares of Orchid Island Capital by 299.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 914,125 shares of the real estate investment trust’s stock valued at $7,779,000 after buying an additional 685,424 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Orchid Island Capital in the 3rd quarter valued at $4,648,000. Finally, Invesco Ltd. raised its stake in shares of Orchid Island Capital by 33.6% in the 3rd quarter. Invesco Ltd. now owns 2,073,998 shares of the real estate investment trust’s stock valued at $17,650,000 after buying an additional 521,401 shares in the last quarter. 27.47% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital Company Profile

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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.

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