Orchid Island Capital, Inc. (NYSE:ORC) Sees Large Drop in Short Interest

Orchid Island Capital, Inc. (NYSE:ORC) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 10,663,145 shares, a decrease of 32.6% from the January 29th total of 15,830,858 shares. Based on an average trading volume of 7,268,881 shares, the days-to-cover ratio is currently 1.5 days. Currently, 5.8% of the shares of the company are short sold. Currently, 5.8% of the shares of the company are short sold. Based on an average trading volume of 7,268,881 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ORC. Weiss Ratings upgraded Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 26th. Compass Point initiated coverage on Orchid Island Capital in a research report on Monday, December 15th. They set a “neutral” rating and a $7.50 price objective on the stock. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.50.

Orchid Island Capital Price Performance

ORC traded down $0.08 on Tuesday, hitting $7.38. 6,394,175 shares of the company’s stock traded hands, compared to its average volume of 6,658,382. The company’s 50 day simple moving average is $7.68 and its 200-day simple moving average is $7.38. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.09. Orchid Island Capital has a one year low of $5.68 and a one year high of $8.56. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 7.10 and a beta of 1.67.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $124.78 million during the quarter, compared to the consensus estimate of $35.74 million. As a group, research analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current year.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 19.5%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 138.46%.

Institutional Investors Weigh In On Orchid Island Capital

Several large investors have recently added to or reduced their stakes in ORC. Nisa Investment Advisors LLC raised its holdings in Orchid Island Capital by 313.0% during 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 buying an additional 157,300 shares during the period. Advisors Asset Management Inc. bought a new position in Orchid Island Capital during the third quarter valued at $972,000. Quantbot Technologies LP purchased a new stake in shares of Orchid Island Capital in the second quarter valued at $1,027,000. Financial Gravity Companies Inc. bought a new stake in shares of Orchid Island Capital in the 2nd quarter worth about $644,000. Finally, Swiss National Bank bought a new stake in shares of Orchid Island Capital in the 2nd quarter worth about $1,417,000. 32.74% of the stock is 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.