Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Down 41.3% in May

Orchid Island Capital, Inc. (NYSE:ORC) was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 11,059,270 shares, a decrease of 41.3% from the April 30th total of 18,842,017 shares. Approximately 5.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,204,527 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings downgraded Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Wall Street Zen downgraded Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $7.50.

Institutional Trading of Orchid Island Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake 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 last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Orchid Island Capital by 32,505.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 6,501 shares during the last quarter. McIlrath & Eck LLC increased its stake in shares of Orchid Island Capital by 157.2% in the 1st quarter. McIlrath & Eck LLC now owns 7,418 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 4,534 shares during the last quarter. CWM LLC increased its stake in shares of Orchid Island Capital by 72.0% in the 4th quarter. CWM LLC now owns 7,797 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 3,263 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Orchid Island Capital in the 2nd quarter worth $55,000. 32.74% of the stock is owned by institutional investors and hedge funds.

Orchid Island Capital Stock Up 0.1%

NYSE ORC opened at $6.79 on Tuesday. The business has a fifty day moving average price of $6.98 and a 200 day moving average price of $7.31. Orchid Island Capital has a one year low of $6.62 and a one year high of $8.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 509.34 and a current ratio of 509.34. The company has a market cap of $1.36 billion, a P/E ratio of 9.05 and a beta of 1.57.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of ($12.56) million during the quarter, compared to analyst estimates of $33.03 million.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a $0.10 dividend. This represents a c) annualized dividend and a yield of 17.7%. The ex-dividend date of this dividend is Friday, May 29th. Orchid Island Capital’s dividend payout ratio is currently 160.00%.

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.