VIRGINIA RETIREMENT SYSTEMS ET Al Invests $993,000 in Orchid Island Capital, Inc. $ORC

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Orchid Island Capital, Inc. (NYSE:ORC) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 137,850 shares of the real estate investment trust’s stock, valued at approximately $993,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudential Financial Inc. grew its position in Orchid Island Capital by 17.8% during the 2nd quarter. Prudential Financial Inc. now owns 13,189 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 1,995 shares during the last quarter. Barclays PLC grew its position in Orchid Island Capital by 1.0% during the 3rd quarter. Barclays PLC now owns 203,626 shares of the real estate investment trust’s stock worth $1,427,000 after acquiring an additional 2,016 shares during the last quarter. CWM LLC grew its position in Orchid Island Capital by 123.1% during the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 2,502 shares during the last quarter. Strs Ohio grew its position in Orchid Island Capital by 14.8% during the 3rd quarter. Strs Ohio now owns 23,300 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Creative Planning grew its position in Orchid Island Capital by 12.0% during the 3rd quarter. Creative Planning now owns 29,642 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 3,187 shares during the last quarter. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Stock Performance

Shares of NYSE:ORC opened at $6.85 on Friday. Orchid Island Capital, Inc. has a twelve month low of $6.62 and a twelve month high of $8.40. The firm has a market cap of $1.37 billion, a PE ratio of 9.13 and a beta of 1.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 509.34 and a current ratio of 509.34. The business has a fifty day moving average of $7.08 and a 200-day moving average of $7.35.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of ($12.56) million during the quarter, compared to analyst estimates of $33.03 million.

Orchid Island Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 17.5%. The ex-dividend date of this dividend is Friday, May 29th. Orchid Island Capital’s dividend payout ratio (DPR) is 160.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings lowered Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Wall Street Zen lowered Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $7.50.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.