Orchid Island Capital, Inc. (NYSE:ORC) Sees Significant Decrease in Short Interest

Orchid Island Capital, Inc. (NYSE:ORC) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 2,580,000 shares, a decrease of 26.3% from the June 30th total of 3,500,000 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average daily volume of 1,670,000 shares, the days-to-cover ratio is presently 1.5 days.

Orchid Island Capital Trading Down 0.2 %

NYSE:ORC traded down $0.02 during trading hours on Friday, reaching $8.24. 2,928,845 shares of the company traded hands, compared to its average volume of 2,099,933. The business’s 50-day moving average price is $8.47 and its two-hundred day moving average price is $8.50. Orchid Island Capital has a 1 year low of $5.90 and a 1 year high of $11.27. The stock has a market capitalization of $436.51 million, a P/E ratio of -15.55 and a beta of 1.86.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). During the same period in the previous year, the business posted ($0.24) earnings per share. As a group, equities analysts anticipate that Orchid Island Capital will post -0.34 EPS for the current year.

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.44 dividend on an annualized basis and a yield of 17.48%. Orchid Island Capital’s dividend payout ratio is currently -271.70%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ORC. Janney Montgomery Scott initiated coverage on shares of Orchid Island Capital in a research note on Thursday, June 6th. They issued a “buy” rating and a $9.50 price target for the company. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, April 18th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ORC. Global Retirement Partners LLC purchased a new position in shares of Orchid Island Capital in the first quarter worth $26,000. Russell Investments Group Ltd. lifted its stake in Orchid Island Capital by 310.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,235 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,446 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Orchid Island Capital during the 2nd quarter valued at about $28,000. Parallel Advisors LLC grew its stake in shares of Orchid Island Capital by 216.4% in the fourth quarter. Parallel Advisors LLC now owns 3,433 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 2,348 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Orchid Island Capital by 1,054.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,062 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 3,710 shares during the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.