Orchid Island Capital, Inc. Announces Monthly Dividend of $0.14 (ORC)

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Thursday, May 11th, Wall Street Journal reports. Shareholders of record on Wednesday, May 31st will be given a dividend of 0.14 per share by the real estate investment trust on Friday, June 9th. This represents a $1.68 dividend on an annualized basis and a yield of 16.72%. The ex-dividend date of this dividend is Friday, May 26th.

Orchid Island Capital has raised its dividend payment by an average of 3.4% per year over the last three years.

Orchid Island Capital (NYSE ORC) traded down 0.30% on Friday, reaching $10.05. The company’s stock had a trading volume of 1,941,002 shares. The firm’s 50 day moving average price is $10.29 and its 200-day moving average price is $10.65. Orchid Island Capital has a 1-year low of $9.23 and a 1-year high of $12.60. The company has a market capitalization of $350.51 million, a price-to-earnings ratio of 30.00 and a beta of 0.51.

Dividend History for Orchid Island Capital (NYSE:ORC)

Separately, Maxim Group downgraded Orchid Island Capital from a “buy” rating to a “hold” rating in a research note on Friday, February 17th.

In other news, Director Ava L. Parker sold 11,477 shares of the company’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $9.93, for a total value of $113,966.61. Following the sale, the director now owns 2,000 shares in the company, valued at $19,860. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Orchid Island Capital by 25.4% in the first quarter. Vanguard Group Inc. now owns 1,134,132 shares of the real estate investment trust’s stock worth $11,330,000 after buying an additional 229,968 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Orchid Island Capital by 71.7% in the first quarter. Geode Capital Management LLC now owns 240,370 shares of the real estate investment trust’s stock worth $2,401,000 after buying an additional 100,374 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Orchid Island Capital by 15.8% in the first quarter. Teachers Advisors LLC now owns 49,826 shares of the real estate investment trust’s stock worth $498,000 after buying an additional 6,799 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Orchid Island Capital by 34.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 49,659 shares of the real estate investment trust’s stock worth $497,000 after buying an additional 12,700 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Orchid Island Capital by 102.7% in the first quarter. Goldman Sachs Group Inc. now owns 28,733 shares of the real estate investment trust’s stock worth $287,000 after buying an additional 14,555 shares during the last quarter. Hedge funds and other institutional investors own 26.61% of the company’s stock.

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About Orchid Island Capital

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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