Orchid Island Capital, Inc. $ORC Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Orchid Island Capital by 8.0%, now holding approximately 716,584 shares valued at $5.39 million.
• Institutional investors collectively own 32.74% of Orchid Island Capital's stock, with notable increases from other firms such as Tower Research Capital LLC and US Bancorp DE.
• Orchid Island Capital reported a quarterly earnings surplus, with EPS of $0.16, surpassing analyst expectations of $0.15, and announced a dividend of $0.12 per share to be paid on September 29th.

Charles Schwab Investment Management Inc. boosted its stake in shares of Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 716,584 shares of the real estate investment trust's stock after acquiring an additional 52,929 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.67% of Orchid Island Capital worth $5,389,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Orchid Island Capital by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust's stock worth $40,165,000 after purchasing an additional 1,102,315 shares during the period. Ameriprise Financial Inc. boosted its holdings in Orchid Island Capital by 79.0% during the fourth quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock worth $6,972,000 after buying an additional 395,650 shares in the last quarter. Northern Trust Corp grew its position in Orchid Island Capital by 16.8% during the fourth quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust's stock valued at $5,310,000 after buying an additional 98,030 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in Orchid Island Capital during the first quarter valued at $647,000. Finally, State of Wyoming raised its position in shares of Orchid Island Capital by 622.2% in the fourth quarter. State of Wyoming now owns 48,815 shares of the real estate investment trust's stock worth $380,000 after acquiring an additional 42,056 shares during the period. 32.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Orchid Island Capital from a "hold" rating to a "strong sell" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Orchid Island Capital presently has an average rating of "Hold".

Orchid Island Capital Stock Performance

Shares of ORC traded down $0.01 during mid-day trading on Monday, hitting $7.07. 6,705,285 shares of the company were exchanged, compared to its average volume of 4,009,102. Orchid Island Capital, Inc. has a 1-year low of $5.68 and a 1-year high of $9.01. The company has a 50 day moving average of $7.12 and a 200-day moving average of $7.31. The stock has a market cap of $895.35 million, a price-to-earnings ratio of 35.33 and a beta of 1.51.

Orchid Island Capital (NYSE:ORC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $23.15 million during the quarter, compared to analyst estimates of $23.25 million. Research analysts anticipate that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

The company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $0.12 dividend. This represents a yield of 2,038.0%. The ex-dividend date of this dividend is Friday, August 29th. Orchid Island Capital's dividend payout ratio is currently 720.00%.

Orchid Island Capital Company 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.