Ameriprise Financial Inc. lifted its holdings in shares of Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 79.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 896,192 shares of the real estate investment trust's stock after buying an additional 395,650 shares during the period. Ameriprise Financial Inc. owned 1.12% of Orchid Island Capital worth $6,972,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Orchid Island Capital by 13.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 663,655 shares of the real estate investment trust's stock worth $5,163,000 after buying an additional 77,435 shares during the period. Northern Trust Corp increased its holdings in shares of Orchid Island Capital by 16.8% in the 4th quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust's stock valued at $5,310,000 after purchasing an additional 98,030 shares during the period. Geode Capital Management LLC increased its holdings in Orchid Island Capital by 10.7% in the fourth quarter. Geode Capital Management LLC now owns 1,827,479 shares of the real estate investment trust's stock worth $14,221,000 after buying an additional 177,357 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Orchid Island Capital during the 4th quarter worth $646,000. Finally, Barclays PLC increased its stake in shares of Orchid Island Capital by 25.9% during the 4th quarter. Barclays PLC now owns 118,358 shares of the real estate investment trust's stock worth $921,000 after purchasing an additional 24,353 shares during the last quarter. Institutional investors and hedge funds own 32.74% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently commented on ORC. Jones Trading restated a "hold" rating on shares of Orchid Island Capital in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Orchid Island Capital from a "sell" rating to a "hold" rating in a research note on Friday, May 16th.
Get Our Latest Research Report on Orchid Island Capital
Orchid Island Capital Trading Up 0.5%
ORC stock traded up $0.04 during midday trading on Wednesday, hitting $7.04. The stock had a trading volume of 1,382,768 shares, compared to its average volume of 2,581,665. The firm has a market capitalization of $768.36 million, a price-to-earnings ratio of 11.73 and a beta of 1.54. Orchid Island Capital, Inc. has a 52 week low of $5.69 and a 52 week high of $9.01. The stock has a 50-day simple moving average of $7.01 and a 200 day simple moving average of $7.72.
Orchid Island Capital (NYSE:ORC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The business had revenue of $19.71 million during the quarter, compared to the consensus estimate of $11.96 million. On average, equities analysts forecast that Orchid Island Capital, Inc. will post 0.37 EPS for the current year.
Orchid Island Capital Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 20.47%. Orchid Island Capital's dividend payout ratio is presently 360.00%.
Orchid Island Capital Profile
(
Free Report)
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.
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