Goldman Sachs Group Inc. Sells 331,986 Shares of Orchid Island Capital, Inc. $ORC

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Orchid Island Capital by 31.7%, selling 331,986 shares and now owning 714,083 shares valued at approximately $5.37 million.
• Orchid Island Capital declared a dividend of $0.12 per share to be paid on October 30th, with a record date of September 30th, leading to a significant dividend yield of 2,000.0%.
• Research analysts have downgraded the stock to a "strong sell" rating, while the consensus rating remains as "Hold" based on latest evaluations.

Goldman Sachs Group Inc. cut its holdings in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 31.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 714,083 shares of the real estate investment trust's stock after selling 331,986 shares during the quarter. Goldman Sachs Group Inc. owned about 0.59% of Orchid Island Capital worth $5,370,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in Orchid Island Capital during the first quarter worth about $647,000. Vanguard Group Inc. lifted its holdings in shares of Orchid Island Capital by 26.0% in the first quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust's stock valued at $40,165,000 after purchasing an additional 1,102,315 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Orchid Island Capital by 79.0% in the fourth quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock valued at $6,972,000 after purchasing an additional 395,650 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Orchid Island Capital by 16.8% in the fourth quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust's stock valued at $5,310,000 after purchasing an additional 98,030 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Orchid Island Capital in the first quarter valued at about $92,000. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Orchid Island Capital from a "hold" rating to a "strong sell" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

Orchid Island Capital Stock Performance

Shares of ORC stock traded down $0.07 during midday trading on Friday, reaching $7.01. 11,743,778 shares of the company were exchanged, compared to its average volume of 4,301,496. Orchid Island Capital, Inc. has a 12 month low of $5.68 and a 12 month high of $9.01. The company has a market cap of $1.02 billion, a P/E ratio of 35.05 and a beta of 1.51. The company's 50 day moving average price is $7.12 and its two-hundred day moving average price is $7.16.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $23.15 million during the quarter, compared to analysts' expectations of $23.25 million. As a group, sell-side analysts predict that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The firm also recently disclosed a sep 25 dividend, which will be paid on Thursday, October 30th. Stockholders of record on Tuesday, September 30th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, September 30th. This represents a dividend yield of 2,000.0%. Orchid Island Capital's dividend payout ratio is currently 720.00%.

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.