Orchid Island Capital, Inc. $ORC Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Orchid Island Capital by 2.6%, now holding approximately 2.10% of the company worth $17.2 million after selling 61,848 shares.
• Other institutional investors have increased their stakes, with Vanguard Group Inc. boosting its holdings by 26% during the same quarter, resulting in a total of 5.34 million shares owned.
• Orchid Island Capital announced a dividend of $0.12 per share, with a remarkable yield of 2,010% and a payout ratio of 720%, further indicating strong shareholder returns.

Invesco Ltd. decreased its stake in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,292,217 shares of the real estate investment trust's stock after selling 61,848 shares during the period. Invesco Ltd. owned approximately 2.10% of Orchid Island Capital worth $17,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of Orchid Island Capital by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,522 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Orchid Island Capital by 73.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust's stock worth $55,000 after buying an additional 3,012 shares during the period. Millennium Management LLC boosted its position in shares of Orchid Island Capital by 1.1% in the fourth quarter. Millennium Management LLC now owns 309,480 shares of the real estate investment trust's stock worth $2,408,000 after buying an additional 3,354 shares during the period. US Bancorp DE boosted its position in shares of Orchid Island Capital by 1,123.1% in the first quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock worth $29,000 after buying an additional 3,504 shares during the period. Finally, Rogco LP purchased a new position in Orchid Island Capital in the first quarter valued at about $28,000. Hedge funds and other institutional investors own 32.74% of the company's stock.

Orchid Island Capital Trading Down 1.1%

NYSE ORC traded down $0.08 on Wednesday, hitting $7.06. 6,378,357 shares of the stock traded hands, compared to its average volume of 3,941,245. The stock has a 50-day moving average of $7.12 and a 200 day moving average of $7.34. 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 $894.08 million, a P/E ratio of 35.28 and a beta of 1.47.

Orchid Island Capital (NYSE:ORC - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $23.25 million. As a group, equities research analysts expect that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 29th. This represents a yield of 2,010.0%. Orchid Island Capital's dividend payout ratio is presently 720.00%.

Analysts Set New Price Targets

ORC has been the subject of a number of analyst reports. Jones Trading reissued a "hold" rating on shares of Orchid Island Capital in a report on Wednesday, April 30th. Wall Street Zen downgraded Orchid Island Capital from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Orchid Island Capital presently has a consensus rating of "Hold".

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.