Charles Schwab Investment Management Inc. Buys 429,689 Shares of Orchid Island Capital, Inc. (NYSE:ORC)

Charles Schwab Investment Management Inc. boosted its stake in shares of Orchid Island Capital, Inc. (NYSE:ORC) by 274.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 586,220 shares of the real estate investment trust’s stock after acquiring an additional 429,689 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.75% of Orchid Island Capital worth $4,819,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Orchid Island Capital during the second quarter valued at approximately $28,000. Prairie Sky Financial Group LLC purchased a new stake in shares of Orchid Island Capital in the third quarter valued at approximately $105,000. Intech Investment Management LLC purchased a new stake in shares of Orchid Island Capital in the third quarter valued at approximately $121,000. AQR Capital Management LLC purchased a new stake in shares of Orchid Island Capital in the second quarter valued at approximately $134,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Orchid Island Capital by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 1,422 shares during the period. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Trading Down 0.2 %

Shares of ORC stock opened at $8.04 on Friday. The business’s fifty day simple moving average is $7.85 and its 200-day simple moving average is $8.14. The company has a market cap of $641.99 million, a PE ratio of 7.66 and a beta of 1.84. Orchid Island Capital, Inc. has a 12-month low of $7.41 and a 12-month high of $9.08.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). During the same period last year, the company earned ($0.28) earnings per share. On average, equities analysts forecast that Orchid Island Capital, Inc. will post -0.25 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 17.91%. The ex-dividend date is Tuesday, December 31st. Orchid Island Capital’s payout ratio is 137.14%.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a report on Wednesday, August 28th.

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.