Orchid Island Capital, Inc. $ORC Shares Sold by Goldman Sachs Group Inc.

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. lessened its holdings in shares of Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 31.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 0.59% of Orchid Island Capital worth $5,370,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Orchid Island Capital by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust's stock worth $40,165,000 after purchasing an additional 1,102,315 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Orchid Island Capital by 537.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,585,508 shares of the real estate investment trust's stock valued at $26,963,000 after acquiring an additional 3,023,062 shares in the last quarter. Millennium Management LLC grew its position in Orchid Island Capital by 234.9% in the first quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust's stock valued at $7,794,000 after acquiring an additional 726,907 shares in the last quarter. Ameriprise Financial Inc. grew its position in 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 acquiring an additional 395,650 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its position in Orchid Island Capital by 416.3% in the first quarter. Wolverine Asset Management LLC now owns 798,360 shares of the real estate investment trust's stock valued at $6,004,000 after acquiring an additional 643,717 shares in the last quarter. Institutional investors and hedge funds own 32.74% of the company's stock.

Orchid Island Capital Trading Up 0.5%

ORC stock opened at $7.13 on Tuesday. Orchid Island Capital, Inc. has a twelve month low of $5.68 and a twelve month high of $9.01. The company has a market capitalization of $1.04 billion, a P/E ratio of 35.63 and a beta of 1.51. The firm has a 50 day simple moving average of $7.13 and a 200-day simple moving average of $7.18.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The company had revenue of $23.15 million for the quarter, compared to analyst estimates of $23.25 million. On average, research analysts predict that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The business also recently declared a sep 25 dividend, which will be paid on Thursday, October 30th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 2,000.0%. Orchid Island Capital's dividend payout ratio (DPR) is presently 720.00%.

Wall Street Analyst Weigh In

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

Orchid Island Capital 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.

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