Orchid Island Capital, Inc. (NYSE:ORC) Sees Large Increase in Short Interest

Orchid Island Capital, Inc. (NYSE:ORC) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 15,899,417 shares, a growth of 32.2% from the December 15th total of 12,022,517 shares. Based on an average trading volume of 6,457,186 shares, the days-to-cover ratio is presently 2.5 days. Currently, 8.9% of the company’s shares are sold short. Currently, 8.9% of the company’s shares are sold short. Based on an average trading volume of 6,457,186 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Investors Weigh In On Orchid Island Capital

A number of institutional investors have recently modified their holdings of the stock. My Personal CFO LLC bought a new position in shares of Orchid Island Capital during the fourth quarter valued at $72,000. SG Americas Securities LLC purchased a new stake in Orchid Island Capital during the 4th quarter valued at about $552,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Orchid Island Capital during the 4th quarter valued at about $119,000. JPMorgan Chase & Co. increased its stake in Orchid Island Capital by 295.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 234,720 shares of the real estate investment trust’s stock valued at $1,645,000 after purchasing an additional 175,311 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in Orchid Island Capital in the third quarter worth about $96,000. 32.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ORC shares. Wall Street Zen upgraded shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Orchid Island Capital in a report on Monday, December 29th. Finally, Compass Point began coverage on Orchid Island Capital in a research report on Monday, December 15th. They issued a “neutral” rating and a $7.50 price objective on the stock. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Orchid Island Capital currently has an average rating of “Reduce” and an average price target of $7.50.

Orchid Island Capital Trading Up 2.7%

Shares of Orchid Island Capital stock opened at $8.34 on Friday. Orchid Island Capital has a 12 month low of $5.68 and a 12 month high of $9.01. The firm has a market capitalization of $1.53 billion, a P/E ratio of 17.02 and a beta of 1.67. The business has a fifty day simple moving average of $7.35 and a two-hundred day simple moving average of $7.24.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, October 23rd. 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 business had revenue of $77.52 million during the quarter, compared to the consensus estimate of $25.33 million. Analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be paid a $0.12 dividend. The ex-dividend date is Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 17.3%. Orchid Island Capital’s dividend payout ratio is presently 293.88%.

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.