Orchid Island Capital Stock to Reverse Split on Wednesday, August 31 (NYSE:ORC)

Shares of Orchid Island Capital, Inc. (NYSE:ORC – Get Rating) are scheduled to reverse split on Wednesday, August 31. The 1-5 reverse split was announced on Wednesday, August 31. The number of shares held by shareholders will be adjusted after the closing bell on Wednesday August 31.

Orchid Island share capital performance

NYSE:ORC opened at $2.76 on Tuesday. The company has a fifty-day moving average of $2.98 and a two-hundred-day moving average of $3.14. The stock has a market capitalization of $486.45 million, a PE ratio of -2.21 and a beta of 1.31. Orchid Island Capital has a fifty-two week low of $2.44 and a fifty-two week high of $5.17.

Orchid Island’s capital increases its dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 28. Shareholders of record on Wednesday August 31 will receive a dividend of $0.16 per share. The ex-dividend date is Tuesday, August 30. This is a boost from Orchid Island Capital’s previous monthly dividend of $0.05. This represents a dividend of $1.92 on an annualized basis and a yield of 69.57%. Orchid Island Capital’s dividend payout ratio is currently -43.20%.

Analysts set new price targets

A number of stock analysts have weighed in on ORC shares. LADENBURG THALM/SH SH downgraded shares of Orchid Island Capital to a “neutral” rating in a Monday August 15 research report. StockNews.com upgraded shares of Orchid Island Capital to a “sell” rating in a research report on Friday.

Institutional investors weigh in on Orchid Island Capital

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Hedge funds have recently changed their stakes in the company. Aaron Wealth Advisors LLC acquired a new equity stake in Orchid Island Capital in the first quarter, valued at approximately $2,110,000. Point72 Hong Kong Ltd bought a new stake in shares of Orchid Island Capital in the fourth quarter, valued at around $38,000. ARGI Investment Services LLC purchased a new stake in shares of Orchid Island Capital in the first quarter, valued at approximately $34,000. Prudential Financial Inc. bought a new stake in shares of Orchid Island Capital in the second quarter, valued at approximately $32,000. Finally, Avidian Wealth Solutions LLC purchased a new equity stake from Orchid Island Capital in the first quarter, valued at approximately $38,000. 21.81% of the shares are currently held by institutional investors and hedge funds.

About Orchid Island Capital

(Get a rating)

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 mortgages, referred to as Agency RMBS. Its portfolio includes traditional transfer agency RMBS, such as mortgage transfer certificates and secured mortgage bonds; and structured agency RMBS comprising interest only securities, inverse interest only securities and principal only securities.

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