MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $26.96 Million Holdings in Orchid Island Capital, Inc. $ORC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. significantly increased its stake in Orchid Island Capital, Inc. by 537.5%, owning over 3.5 million shares valued at approximately $26.96 million.
• The company's stock recently reported a 0.2% decline and has a market capitalization of $910.56 million with a price-to-earnings ratio of 35.93.
• Orchid Island Capital declared a dividend of $0.12 per share, representing a yield of 2,038.0%, with a payout ratio of 720.00%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 537.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,585,508 shares of the real estate investment trust's stock after buying an additional 3,023,062 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 3.28% of Orchid Island Capital worth $26,963,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ORC. Rogco LP bought a new position in shares of Orchid Island Capital in the 1st quarter worth $28,000. US Bancorp DE boosted its position in shares of Orchid Island Capital by 1,123.1% in the 1st quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 3,504 shares during the last quarter. Quarry LP bought a new position in shares of Orchid Island Capital in the 1st quarter worth $50,000. Tower Research Capital LLC TRC boosted its position in shares of Orchid Island Capital by 73.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 3,012 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Orchid Island Capital by 52.1% in the 1st quarter. Russell Investments Group Ltd. now owns 9,379 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 3,214 shares during the last quarter. 32.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered 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, Based on data from MarketBeat, Orchid Island Capital has a consensus rating of "Hold".

Orchid Island Capital Price Performance

Shares of ORC traded down $0.01 during midday trading on Friday, hitting $7.07. The stock had a trading volume of 825,951 shares, compared to its average volume of 3,785,881. The company has a 50 day simple moving average of $7.13 and a two-hundred day simple moving average of $7.23. Orchid Island Capital, Inc. has a twelve month low of $5.68 and a twelve month high of $9.01. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 35.33 and a beta of 1.51.

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 (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $23.15 million during the quarter, compared to analyst estimates of $23.25 million. Analysts forecast that Orchid Island Capital, Inc. will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Announces Dividend

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

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.