Short Interest in Orchid Island Capital, Inc. (NYSE:ORC) Grows 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 trading volume of 6,766,951 shares, the days-to-cover ratio is presently 1.9 days. Approximately 6.7% of the company’s stock are short sold. Approximately 6.7% of the company’s stock are short sold. Based on an average trading volume of 6,766,951 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Compass Point started coverage on shares of Orchid Island Capital in a research report on Monday, December 15th. They issued a “neutral” rating and a $7.50 price objective for the company. Weiss Ratings upgraded shares of 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 company has an average rating of “Hold” and an average target price of $7.50.

Orchid Island Capital Trading Down 0.5%

ORC traded down $0.04 during mid-day trading on Tuesday, hitting $7.24. 6,309,173 shares of the stock were exchanged, compared to its average volume of 6,430,057. The firm’s fifty day moving average is $7.68 and its two-hundred day moving average is $7.39. Orchid Island Capital has a 1-year low of $5.68 and a 1-year high of $8.44. The company has a market cap of $1.38 billion, a PE ratio of 6.96 and a beta of 1.67. The company has a current ratio of 509.34, a quick 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 for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $124.78 million during the quarter, compared to analyst estimates of $35.74 million. Equities analysts forecast that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Announces Dividend

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

Institutional Investors Weigh In On Orchid Island Capital

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new stake in shares of Orchid Island Capital during the first quarter worth approximately $84,000. Millennium Management LLC lifted its stake in Orchid Island Capital by 234.9% in the first quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust’s stock worth $7,794,000 after acquiring an additional 726,907 shares during the last quarter. Strs Ohio purchased a new position in Orchid Island Capital in the first quarter worth approximately $111,000. Envestnet Asset Management Inc. acquired a new position in Orchid Island Capital during the 2nd quarter worth approximately $75,000. Finally, ProShare Advisors LLC grew its holdings in Orchid Island Capital by 29.8% during the 2nd quarter. ProShare Advisors LLC now owns 22,116 shares of the real estate investment trust’s stock worth $155,000 after acquiring an additional 5,082 shares in the last quarter. 32.74% of the stock is currently owned by institutional investors and hedge funds.

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.