Short Interest in Orchid Island Capital, Inc. (NYSE:ORC) Decreases By 41.3%

Orchid Island Capital, Inc. (NYSE:ORC) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 11,059,270 shares, a decrease of 41.3% from the April 30th total of 18,842,017 shares. Based on an average trading volume of 4,204,527 shares, the days-to-cover ratio is currently 2.6 days. Currently, 5.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

ORC has been the subject of several recent analyst reports. Weiss Ratings cut Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Wall Street Zen lowered shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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 bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in Orchid Island Capital by 64.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,502 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Orchid Island Capital by 32,505.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,501 shares in the last quarter. McIlrath & Eck LLC grew its stake in Orchid Island Capital by 157.2% in the first quarter. McIlrath & Eck LLC now owns 7,418 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 4,534 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Orchid Island Capital during the 2nd quarter worth approximately $55,000. Finally, CWM LLC raised its stake in shares of Orchid Island Capital by 72.0% during the 4th quarter. CWM LLC now owns 7,797 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 3,263 shares in the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

Orchid Island Capital Price Performance

Shares of NYSE:ORC traded up $0.11 during trading on Thursday, reaching $6.71. The stock had a trading volume of 1,767,670 shares, compared to its average volume of 6,409,350. The business’s 50-day moving average price is $6.97 and its 200 day moving average price is $7.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 509.34 and a quick ratio of 509.34. The stock has a market capitalization of $1.35 billion, a PE ratio of 8.93 and a beta of 1.55. Orchid Island Capital has a 52 week low of $6.57 and a 52 week high of $8.40.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of ($12.56) million during the quarter, compared to the consensus estimate of $33.03 million.

Orchid Island Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 17.9%. Orchid Island Capital’s dividend payout ratio is presently 160.00%.

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.