Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Down 22.3% in January

Orchid Island Capital, Inc. (NYSE:ORC) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 12,357,634 shares, a drop of 22.3% from the December 31st total of 15,899,417 shares. Based on an average daily trading volume, of 6,978,841 shares, the days-to-cover ratio is presently 1.8 days. Currently, 6.8% of the shares of the company are short sold. Currently, 6.8% of the shares of the company are short sold. Based on an average daily trading volume, of 6,978,841 shares, the days-to-cover ratio is presently 1.8 days.

Orchid Island Capital Trading Up 1.6%

Shares of ORC stock traded up $0.13 during trading hours on Tuesday, hitting $7.82. 8,013,990 shares of the company were exchanged, compared to its average volume of 6,847,032. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 7.51 and a beta of 1.68. The firm has a fifty day simple moving average of $7.57 and a 200 day simple moving average of $7.32. Orchid Island Capital has a 52-week low of $5.68 and a 52-week high of $9.01.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $109.23 million for the quarter, compared to the consensus estimate of $35.74 million. Sell-side analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 18.4%. Orchid Island Capital’s dividend payout ratio is presently 138.46%.

Wall Street Analyst Weigh In

ORC has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Orchid Island Capital in a report on Monday, December 29th. Compass Point assumed coverage on Orchid Island Capital in a research report on Monday, December 15th. They issued a “neutral” rating and a $7.50 price objective on the stock. Finally, Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $7.50.

Institutional Investors Weigh In On Orchid Island Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORC. Vanguard Group Inc. increased its stake in shares of Orchid Island Capital by 23.4% in the fourth quarter. Vanguard Group Inc. now owns 9,767,670 shares of the real estate investment trust’s stock worth $70,327,000 after purchasing an additional 1,850,221 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Orchid Island Capital by 3.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,953,916 shares of the real estate investment trust’s stock worth $27,717,000 after buying an additional 149,251 shares during the period. Invesco Ltd. boosted its holdings in Orchid Island Capital by 10.3% in the 3rd quarter. Invesco Ltd. now owns 3,165,436 shares of the real estate investment trust’s stock worth $22,190,000 after buying an additional 294,547 shares during the period. Geode Capital Management LLC grew its stake in Orchid Island Capital by 25.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,584,534 shares of the real estate investment trust’s stock valued at $18,120,000 after buying an additional 516,261 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Orchid Island Capital by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,440,892 shares of the real estate investment trust’s stock valued at $10,101,000 after buying an additional 302,548 shares in the last quarter. 32.74% of the stock is currently owned by 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.