Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Update

Orchid Island Capital, Inc. (NYSE:ORC) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 15,830,858 shares, an increase of 28.1% from the January 15th total of 12,357,634 shares. Based on an average daily volume of 7,791,662 shares, the days-to-cover ratio is currently 2.0 days. Approximately 8.7% of the shares of the stock are short sold. Approximately 8.7% of the shares of the stock are short sold. Based on an average daily volume of 7,791,662 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On Orchid Island Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC increased its holdings in shares of Orchid Island Capital by 64.2% during the 2nd quarter. Bogart Wealth LLC now owns 3,940 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 1,540 shares during the period. Geneos Wealth Management Inc. acquired a new position in Orchid Island Capital in the 3rd quarter valued at approximately $29,000. CWM LLC lifted its position in shares of Orchid Island Capital by 123.1% in the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 2,502 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Orchid Island Capital by 64.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,502 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Orchid Island Capital during the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 32.74% of the company’s stock.

Orchid Island Capital Stock Performance

Shares of NYSE ORC traded down $0.01 during mid-day trading on Monday, reaching $7.54. The company had a trading volume of 6,270,887 shares, compared to its average volume of 7,170,921. The stock has a fifty day moving average of $7.61 and a two-hundred day moving average of $7.34. Orchid Island Capital has a 12-month low of $5.68 and a 12-month high of $9.01. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 7.25 and a beta of 1.68.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $109.23 million during the quarter, compared to analysts’ expectations of $35.74 million. Sell-side analysts forecast that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.12 per share. This represents a c) annualized dividend and a dividend yield of 19.1%. The ex-dividend date is Friday, February 27th. Orchid Island Capital’s dividend payout ratio is 138.46%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Compass Point began coverage on Orchid Island Capital in a research report on Monday, December 15th. They set a “neutral” rating and a $7.50 target price on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Orchid Island Capital in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Orchid Island Capital has a consensus rating of “Reduce” and a consensus price target of $7.50.

Orchid Island Capital Company Profile

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.