Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, June 14th, Wall Street Journal reports. Investors of record on Friday, June 30th will be given a dividend of 0.14 per share by the real estate investment trust on Monday, July 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.63%. The ex-dividend date of this dividend is Wednesday, June 28th.

Orchid Island Capital has increased its dividend payment by an average of 3.4% per year over the last three years.

Orchid Island Capital (NYSE:ORC) traded up 0.40% during mid-day trading on Wednesday, hitting $10.10. 1,420,699 shares of the company were exchanged. Orchid Island Capital has a 12-month low of $9.23 and a 12-month high of $12.60. The stock has a market cap of $352.26 million, a P/E ratio of 30.15 and a beta of 0.51. The company has a 50 day moving average of $10.37 and a 200 day moving average of $10.66.

Dividend History for Orchid Island Capital (NYSE:ORC)

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In other news, Director Ava L. Parker sold 11,477 shares of the business’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $9.93, for a total transaction of $113,966.61. Following the sale, the director now directly owns 2,000 shares in the company, valued at $19,860. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ORC. Vanguard Group Inc. boosted its stake in Orchid Island Capital by 25.4% in the first quarter. Vanguard Group Inc. now owns 1,134,132 shares of the real estate investment trust’s stock valued at $11,330,000 after buying an additional 229,968 shares during the period. Geode Capital Management LLC boosted its stake in Orchid Island Capital by 71.7% in the first quarter. Geode Capital Management LLC now owns 240,370 shares of the real estate investment trust’s stock valued at $2,401,000 after buying an additional 100,374 shares during the period. Goldman Sachs Group Inc. boosted its stake in Orchid Island Capital by 102.7% in the first quarter. Goldman Sachs Group Inc. now owns 28,733 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 14,555 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Orchid Island Capital by 34.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 49,659 shares of the real estate investment trust’s stock valued at $497,000 after buying an additional 12,700 shares during the period. Finally, Bank of America Corp DE boosted its stake in Orchid Island Capital by 151.7% in the first quarter. Bank of America Corp DE now owns 13,067 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 7,875 shares during the period. Institutional investors own 26.61% of the company’s stock.

Separately, Maxim Group cut Orchid Island Capital from a “buy” rating to a “hold” rating in a report on Friday, February 17th.

About Orchid Island Capital

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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