Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Update

Orchid Island Capital, Inc. (NYSE:ORC) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 12,990,000 shares, a growth of 64.8% from the September 15th total of 7,880,000 shares. Based on an average daily volume of 4,610,000 shares, the short-interest ratio is currently 2.8 days. Based on an average daily volume of 4,610,000 shares, the short-interest ratio is currently 2.8 days.

Orchid Island Capital Stock Down 0.2%

NYSE ORC opened at $7.46 on Friday. The company has a 50-day simple moving average of $7.14 and a two-hundred day simple moving average of $7.04. Orchid Island Capital has a 12-month low of $5.68 and a 12-month high of $9.01. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 37.29 and a beta of 1.53.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $26.92 million for the quarter, compared to analysts’ expectations of $25.33 million. Equities analysts expect 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 declared a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, October 31st will be given a dividend of $0.12 per share. This represents a c) annualized dividend and a yield of 19.3%. The ex-dividend date is Friday, October 31st. Orchid Island Capital’s dividend payout ratio is presently 720.00%.

Institutional Trading of Orchid Island Capital

Institutional investors have recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. purchased a new stake in Orchid Island Capital during the first quarter valued at about $647,000. Vanguard Group Inc. boosted its holdings in shares of Orchid Island Capital by 26.0% during the first quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust’s stock worth $40,165,000 after purchasing an additional 1,102,315 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Orchid Island Capital during the first quarter worth about $92,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Orchid Island Capital by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 716,584 shares of the real estate investment trust’s stock worth $5,389,000 after purchasing an additional 52,929 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of Orchid Island Capital during the first quarter worth about $688,000. 32.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ORC has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Orchid Island Capital from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Orchid Island Capital in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Orchid Island Capital has an average rating of “Reduce”.

About Orchid Island Capital

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.