Orchid Island Capital, Inc. (NYSE:ORC) Shares Sold by Entropy Technologies LP

Entropy Technologies LP trimmed its holdings in Orchid Island Capital, Inc. (NYSE:ORC) by 58.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,101 shares of the real estate investment trust’s stock after selling 20,199 shares during the period. Entropy Technologies LP’s holdings in Orchid Island Capital were worth $110,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its stake in Orchid Island Capital by 2.1% in the 3rd quarter. Global Retirement Partners LLC now owns 63,109 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 1,305 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Orchid Island Capital by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 1,422 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Orchid Island Capital by 7.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 47,858 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 3,410 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Orchid Island Capital by 23.2% in the 4th quarter. SG Americas Securities LLC now owns 32,727 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 6,173 shares in the last quarter. Finally, McIlrath & Eck LLC acquired a new position in shares of Orchid Island Capital in the 3rd quarter valued at about $58,000. 32.74% of the stock is owned by institutional investors and hedge funds.

Orchid Island Capital Stock Performance

Shares of NYSE:ORC opened at $8.77 on Friday. The company has a market cap of $699.89 million, a P/E ratio of 14.61 and a beta of 1.83. Orchid Island Capital, Inc. has a one year low of $7.41 and a one year high of $9.08. The business’s 50-day simple moving average is $7.99 and its 200 day simple moving average is $7.99.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.08. Analysts predict that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 16.43%. Orchid Island Capital’s payout ratio is currently 240.00%.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, January 23rd.

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.