Short Interest in Orchid Island Capital, Inc. (NYSE:ORC) Decreases By 22.3%

Orchid Island Capital, Inc. (NYSE:ORC) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 12,357,634 shares, a decrease of 22.3% from the December 31st total of 15,899,417 shares. Currently, 6.8% of the company’s stock are short sold. Based on an average trading volume of 6,978,841 shares, the days-to-cover ratio is currently 1.8 days. Based on an average trading volume of 6,978,841 shares, the days-to-cover ratio is currently 1.8 days. Currently, 6.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Orchid Island Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC lifted its stake in Orchid Island Capital by 298.9% during the 4th quarter. Wolverine Asset Management LLC now owns 1,011,903 shares of the real estate investment trust’s stock valued at $7,286,000 after acquiring an additional 758,217 shares in the last quarter. Strs Ohio raised its holdings in shares of Orchid Island Capital by 16.3% in the fourth quarter. Strs Ohio now owns 27,100 shares of the real estate investment trust’s stock valued at $195,000 after purchasing an additional 3,800 shares during the last quarter. UBS Group AG lifted its position in shares of Orchid Island Capital by 54.6% during the fourth quarter. UBS Group AG now owns 1,156,156 shares of the real estate investment trust’s stock valued at $8,324,000 after purchasing an additional 408,339 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Orchid Island Capital by 23.4% during the fourth quarter. Vanguard Group Inc. now owns 9,767,670 shares of the real estate investment trust’s stock valued at $70,327,000 after purchasing an additional 1,850,221 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Orchid Island Capital by 8.9% during the fourth quarter. Arizona State Retirement System now owns 40,830 shares of the real estate investment trust’s stock worth $294,000 after purchasing an additional 3,334 shares during the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

Orchid Island Capital Price Performance

Shares of NYSE:ORC traded up $0.13 during midday trading on Tuesday, hitting $7.82. 8,013,990 shares of the company’s stock were exchanged, compared to its average volume of 6,847,032. Orchid Island Capital has a 12 month low of $5.68 and a 12 month high of $9.01. The company has a market cap of $1.43 billion, a PE ratio of 7.51 and a beta of 1.68. The stock has a 50 day moving average price of $7.57 and a 200-day moving average price of $7.32.

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

Orchid Island Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 18.4%. Orchid Island Capital’s payout ratio is presently 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.