Short Interest in Orchid Island Capital, Inc. (NYSE:ORC) Expands By 19.7%

Orchid Island Capital, Inc. (NYSE:ORC) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 12,764,933 shares, an increase of 19.7% from the February 12th total of 10,663,145 shares. Based on an average daily volume of 6,766,951 shares, the short-interest ratio is presently 1.9 days. Currently, 6.7% of the shares of the stock are sold short. Currently, 6.7% of the shares of the stock are sold short. Based on an average daily volume of 6,766,951 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ORC shares. Compass Point initiated coverage on Orchid Island Capital in a research note on Monday, December 15th. They set a “neutral” rating and a $7.50 price target for the company. Weiss Ratings raised Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.50.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors have recently added to or reduced their stakes in ORC. World Investment Advisors acquired a new position in Orchid Island Capital during the 4th quarter worth about $245,000. Corient Private Wealth LLC acquired a new position in shares of Orchid Island Capital during the 4th quarter valued at $115,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Orchid Island Capital by 32,505.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,501 shares during the period. MidFirst Bank acquired a new position in Orchid Island Capital during the 4th quarter worth approximately $180,000. Finally, Compound Planning Inc. bought a new position in shares of Orchid Island Capital in the 4th quarter worth $103,000. 32.74% of the stock is currently owned by institutional investors and hedge funds.

Orchid Island Capital Trading Down 0.5%

NYSE ORC traded down $0.04 during trading on Tuesday, reaching $7.24. 6,309,173 shares of the stock traded hands, compared to its average volume of 6,430,057. Orchid Island Capital has a fifty-two week low of $5.68 and a fifty-two week high of $8.44. The stock’s 50-day moving average price is $7.68 and its 200 day moving average price is $7.39. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 6.96 and a beta of 1.67. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.09.

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 firm had revenue of $124.78 million for the quarter, compared to the consensus estimate of $35.74 million. Analysts predict that Orchid Island Capital will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 19.9%. Orchid Island Capital’s dividend payout ratio is currently 138.46%.

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.