Orchid Island Capital, Inc. (NYSE:ORC) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 12.9% during the second quarter, Holdings Channel reports. The firm owned 169,547 shares of the real estate investment trust’s stock after acquiring an additional 19,338 shares during the quarter. Bank of New York Mellon Corp’s holdings in Orchid Island Capital were worth $1,414,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Orchid Island Capital by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,909 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 1,642 shares during the last quarter. Parallel Advisors LLC grew its position in Orchid Island Capital by 216.4% in the 4th quarter. Parallel Advisors LLC now owns 3,433 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,348 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Orchid Island Capital by 310.0% in the 4th 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 period. Commonwealth Equity Services LLC increased its stake in shares of Orchid Island Capital by 3.9% during the first quarter. Commonwealth Equity Services LLC now owns 68,540 shares of the real estate investment trust’s stock worth $612,000 after acquiring an additional 2,544 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in 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 worth $36,000 after purchasing an additional 3,094 shares in the last quarter. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Stock Performance

Shares of ORC stock opened at $8.39 on Friday. The stock has a fifty day moving average price of $8.23 and a 200 day moving average price of $8.43. The stock has a market cap of $598.19 million, a PE ratio of -15.82 and a beta of 1.85. Orchid Island Capital, Inc. has a 1 year low of $5.90 and a 1 year high of $9.50.

Orchid Island Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.17%. Orchid Island Capital’s dividend payout ratio (DPR) is -271.70%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ORC. Janney Montgomery Scott began coverage on Orchid Island Capital in a research report on Thursday, June 6th. They set a “buy” rating and a $9.50 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Wednesday, August 28th.

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.