Short Interest in Orchid Island Capital, Inc. (NYSE:ORC) Grows By 59.7%

Orchid Island Capital, Inc. (NYSE:ORC) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 18,841,769 shares, a growth of 59.7% from the March 15th total of 11,798,603 shares. Approximately 9.7% of the shares of the stock are sold short. Based on an average daily volume of 7,635,505 shares, the short-interest ratio is currently 2.5 days.

Orchid Island Capital Price Performance

Shares of ORC traded up $0.05 during midday trading on Wednesday, hitting $7.35. 2,021,878 shares of the company traded hands, compared to its average volume of 6,766,806. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 7.06 and a beta of 1.63. The firm has a 50 day moving average of $7.31 and a 200-day moving average of $7.39. The company has a debt-to-equity ratio of 0.09, a quick ratio of 509.34 and a current ratio of 509.34. Orchid Island Capital has a 52 week low of $6.26 and a 52 week high of $8.40.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $124.78 million during the quarter, compared to analysts’ expectations of $35.74 million. On average, analysts forecast that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 29th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 19.6%. Orchid Island Capital’s dividend payout ratio is presently 138.46%.

Wall Street Analysts Forecast Growth

ORC has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $7.50.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors and hedge funds have recently made changes to their positions in ORC. Nisa Investment Advisors LLC lifted its stake in shares of Orchid Island Capital by 313.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 207,548 shares of the real estate investment trust’s stock valued at $1,480,000 after purchasing an additional 157,300 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in Orchid Island Capital during the 3rd quarter valued at $972,000. JPMorgan Chase & Co. lifted its position in Orchid Island Capital by 295.1% in the third quarter. JPMorgan Chase & Co. now owns 234,720 shares of the real estate investment trust’s stock worth $1,645,000 after buying an additional 175,311 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Orchid Island Capital during the third quarter worth $1,412,000. Finally, SG Americas Securities LLC purchased a new position in Orchid Island Capital during the fourth quarter worth $552,000. 32.74% of the stock is owned by hedge funds and other institutional investors.

About Orchid Island Capital

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.