Vanguard Group Inc. Acquires 1,102,315 Shares of Orchid Island Capital, Inc. $ORC

Key Points

• Vanguard Group Inc. increased its holdings in Orchid Island Capital by 26%, owning over 5.3 million shares worth approximately $40.2 million, as reported in their recent SEC filing.
• Orchid Island Capital declared a dividend of $0.12 per share, with an impressive dividend yield of 2,010%, scheduled to be paid on September 29th to stockholders of record.
• Despite a recent earnings report showing a quarterly EPS of $0.16, analysts have mixed ratings on the stock, with some downgrading it to a "strong sell."

Vanguard Group Inc. increased its holdings in shares of Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 26.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,341,095 shares of the real estate investment trust's stock after buying an additional 1,102,315 shares during the period. Vanguard Group Inc. owned about 5.01% of Orchid Island Capital worth $40,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Orchid Island Capital in the 1st quarter valued at $647,000. Ameriprise Financial Inc. grew its stake in shares of Orchid Island Capital by 79.0% in the 4th quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock worth $6,972,000 after acquiring an additional 395,650 shares in the last quarter. Northern Trust Corp boosted 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 worth $5,310,000 after buying an additional 98,030 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Orchid Island Capital in the 1st quarter worth about $92,000. Finally, Millennium Management LLC boosted its holdings in shares of Orchid Island Capital by 1.1% in the 4th quarter. Millennium Management LLC now owns 309,480 shares of the real estate investment trust's stock worth $2,408,000 after buying an additional 3,354 shares during the last quarter. Institutional investors and hedge funds own 32.74% of the company's stock.

Orchid Island Capital Price Performance

NYSE:ORC traded down $0.01 during trading hours on Monday, hitting $7.07. The company had a trading volume of 6,705,285 shares, compared to its average volume of 4,009,102. The company has a market capitalization of $895.35 million, a PE ratio of 35.33 and a beta of 1.51. The stock has a 50-day moving average price of $7.12 and a 200 day moving average price of $7.30. Orchid Island Capital, Inc. has a 52 week low of $5.68 and a 52 week high of $9.01.

Orchid Island Capital (NYSE:ORC - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $23.15 million during the quarter, compared to analysts' expectations of $23.25 million. Analysts anticipate that Orchid Island Capital, Inc. will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Dividend Announcement

The company also recently announced a aug 25 dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued 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%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Orchid Island Capital from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

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.