Orchid Island Capital, Inc. (ORC) Short Interest Update
Orchid Island Capital, Inc. (NYSE:ORC) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 3,748,786 shares, a growth of 66.0% from the July 14th total of 2,257,862 shares. Based on an average daily trading volume, of 1,033,869 shares, the short-interest ratio is presently 3.6 days. Approximately 9.4% of the shares of the company are short sold.
Several research firms have recently weighed in on ORC. TheStreet downgraded shares of Orchid Island Capital from a “c” rating to a “d” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.
Orchid Island Capital (ORC) opened at 9.74 on Monday. The stock’s market cap is $441.25 million. Orchid Island Capital has a 1-year low of $9.18 and a 1-year high of $12.60. The stock has a 50 day moving average of $9.76 and a 200 day moving average of $10.25.
Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Monday, July 31st. The real estate investment trust reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.68. Equities analysts anticipate that Orchid Island Capital will post $1.09 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be paid a $0.14 dividend. This represents a $1.68 annualized dividend and a dividend yield of 17.25%. The ex-dividend date is Tuesday, August 29th. Orchid Island Capital’s dividend payout ratio (DPR) is presently -2,799.53%.
In related news, Director W Coleman Bitting acquired 2,912 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $29,411.20. Following the completion of the acquisition, the director now owns 18,650 shares of the company’s stock, valued at approximately $188,365. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.
Several institutional investors have recently modified their holdings of ORC. Thrivent Financial For Lutherans acquired a new position in shares of Orchid Island Capital during the first quarter valued at $2,753,000. Vanguard Group Inc. boosted its position in shares of Orchid Island Capital by 25.4% in the first quarter. Vanguard Group Inc. now owns 1,134,132 shares of the real estate investment trust’s stock valued at $11,330,000 after buying an additional 229,968 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Orchid Island Capital by 336.1% in the second quarter. TIAA CREF Investment Management LLC now owns 244,351 shares of the real estate investment trust’s stock valued at $2,409,000 after buying an additional 188,316 shares during the period. Cetera Investment Advisers acquired a new position in shares of Orchid Island Capital during the second quarter valued at $1,021,000. Finally, Geode Capital Management LLC boosted its position in shares of Orchid Island Capital by 71.7% in the first quarter. Geode Capital Management LLC now owns 240,370 shares of the real estate investment trust’s stock valued at $2,401,000 after buying an additional 100,374 shares during the period. Hedge funds and other institutional investors own 20.57% of the company’s stock.
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About Orchid Island Capital
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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