Orchid Island Capital Inc (ORC) to Issue $0.14 Monthly Dividend
Orchid Island Capital Inc (NYSE:ORC) declared a monthly dividend on Thursday, May 11th. Investors of record on Wednesday, May 31st will be paid a dividend of 0.14 per share by the real estate investment trust on Friday, June 9th. This represents a $1.68 annualized dividend and a dividend yield of 16.09%. The ex-dividend date of this dividend is Friday, May 26th.
Orchid Island Capital has increased its dividend by an average of 3.4% annually over the last three years.
Shares of Orchid Island Capital (NYSE:ORC) traded up 0.19% during trading on Thursday, hitting $10.44. The company had a trading volume of 640,978 shares. The firm has a market capitalization of $364.12 million, a P/E ratio of 31.16 and a beta of 0.65. Orchid Island Capital has a 52-week low of $9.23 and a 52-week high of $12.60. The stock’s 50-day moving average is $10.42 and its 200 day moving average is $10.76.
Separately, Maxim Group downgraded shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research report on Friday, February 17th.
In related news, Director John Van Heuvelen purchased 100,000 shares of Orchid Island Capital stock in a transaction dated Friday, March 3rd. The stock was bought at an average cost of $9.40 per share, for a total transaction of $940,000.00. Following the transaction, the director now owns 156,201 shares in the company, valued at $1,468,289.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert E. Cauley purchased 7,500 shares of Orchid Island Capital stock in a transaction dated Monday, February 27th. The shares were bought at an average price of $9.66 per share, with a total value of $72,450.00. Following the completion of the transaction, the chief executive officer now owns 27,931 shares in the company, valued at approximately $269,813.46. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 117,500 shares of company stock valued at $1,108,600. Insiders own 0.75% of the company’s stock.
An institutional investor recently raised its position in Orchid Island Capital stock. Alliancebernstein L.P. increased its position in shares of Orchid Island Capital Inc (NYSE:ORC) by 44.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,200 shares of the real estate investment trust’s stock after buying an additional 5,900 shares during the period. Alliancebernstein L.P. owned 0.06% of Orchid Island Capital worth $192,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 18.10% of the company’s stock.
Orchid Island Capital Company Profile
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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