Van ECK Associates Corp Purchases 197,052 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

Van ECK Associates Corp boosted its position in Orchid Island Capital, Inc. (NYSE:ORC) by 39.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 695,131 shares of the real estate investment trust’s stock after purchasing an additional 197,052 shares during the period. Van ECK Associates Corp’s holdings in Orchid Island Capital were worth $5,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of Orchid Island Capital by 3.9% in the first quarter. Commonwealth Equity Services LLC now owns 68,540 shares of the real estate investment trust’s stock worth $612,000 after purchasing an additional 2,544 shares during the last quarter. Significant Wealth Partners LLC grew its position in Orchid Island Capital by 266.8% in the first quarter. Significant Wealth Partners LLC now owns 459,194 shares of the real estate investment trust’s stock worth $4,101,000 after acquiring an additional 334,002 shares in the last quarter. Entropy Technologies LP bought a new position in Orchid Island Capital in the first quarter valued at $152,000. EntryPoint Capital LLC boosted its holdings in shares of Orchid Island Capital by 101.8% in the 1st quarter. EntryPoint Capital LLC now owns 11,808 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 5,958 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 1,642 shares during the last quarter. Institutional investors own 32.74% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th.

Orchid Island Capital Stock Up 1.9 %

Shares of Orchid Island Capital stock opened at $7.74 on Friday. The company has a market cap of $606.58 million, a PE ratio of 7.37 and a beta of 1.85. The business has a 50 day moving average of $8.00 and a 200 day moving average of $8.25. Orchid Island Capital, Inc. has a 52 week low of $6.73 and a 52 week high of $9.08.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). During the same quarter in the prior year, the company earned ($0.28) earnings per share. On average, research analysts anticipate that Orchid Island Capital, Inc. will post -0.25 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a yield of 18.62%. The ex-dividend date is Thursday, October 31st. Orchid Island Capital’s dividend payout ratio is currently 137.14%.

Orchid Island Capital Company Profile

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.