Orchid Island Capital, Inc. (NYSE:ORC) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Orchid Island Capital, Inc. (NYSE:ORC - Free Report) by 274.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 586,220 shares of the real estate investment trust's stock after purchasing an additional 429,689 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Orchid Island Capital worth $4,819,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Orchid Island Capital in the second quarter worth $28,000. Prairie Sky Financial Group LLC purchased a new position in Orchid Island Capital in the third quarter valued at $105,000. Intech Investment Management LLC acquired a new position in Orchid Island Capital during the 3rd quarter worth $121,000. AQR Capital Management LLC purchased a new stake in Orchid Island Capital during the 2nd quarter worth about $134,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Orchid Island Capital by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust's stock worth $171,000 after purchasing an additional 1,422 shares during the period. 32.74% of the stock is owned by hedge funds and other institutional investors.

Orchid Island Capital Price Performance

Shares of ORC traded down $0.02 during midday trading on Friday, reaching $8.04. The stock had a trading volume of 1,353,268 shares, compared to its average volume of 1,618,610. The company has a market cap of $641.99 million, a price-to-earnings ratio of 7.66 and a beta of 1.84. The company's fifty day simple moving average is $7.85 and its two-hundred day simple moving average is $8.13. Orchid Island Capital, Inc. has a 1-year low of $7.41 and a 1-year high of $9.08.

Orchid Island Capital (NYSE:ORC - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.05). During the same period last year, the firm earned ($0.28) earnings per share. On average, sell-side analysts forecast that Orchid Island Capital, Inc. will post -0.25 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.44 annualized dividend and a dividend yield of 17.91%. Orchid Island Capital's dividend payout ratio is presently 137.14%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a "market perform" rating on shares of Orchid Island Capital in a research report on Wednesday, August 28th.

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.