Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Up 32.2% in December

Orchid Island Capital, Inc. (NYSE:ORC) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 15,899,417 shares, a growth of 32.2% from the December 15th total of 12,022,517 shares. Based on an average trading volume of 6,457,186 shares, the days-to-cover ratio is presently 2.5 days. Currently, 8.9% of the shares of the stock are sold short. Currently, 8.9% of the shares of the stock are sold short. Based on an average trading volume of 6,457,186 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Compass Point started coverage on shares of Orchid Island Capital in a research note on Monday, December 15th. They issued a “neutral” rating and a $7.50 target price on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Orchid Island Capital in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $7.50.

Orchid Island Capital Price Performance

Shares of NYSE ORC opened at $8.34 on Friday. The stock has a market capitalization of $1.53 billion, a P/E ratio of 17.02 and a beta of 1.67. Orchid Island Capital has a one year low of $5.68 and a one year high of $9.01. The firm’s 50 day simple moving average is $7.35 and its two-hundred day simple moving average is $7.24.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $77.52 million during the quarter, compared to analysts’ expectations of $25.33 million. As a group, equities analysts expect that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be issued a $0.12 dividend. The ex-dividend date is Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 17.3%. Orchid Island Capital’s payout ratio is currently 293.88%.

Institutional Investors Weigh In On Orchid Island Capital

Institutional investors have recently bought and sold shares of the stock. My Personal CFO LLC purchased a new position in Orchid Island Capital in the 4th quarter worth approximately $72,000. SG Americas Securities LLC bought a new position in shares of Orchid Island Capital in the fourth quarter worth approximately $552,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Orchid Island Capital in the fourth quarter worth approximately $119,000. JPMorgan Chase & Co. increased its stake in shares of Orchid Island Capital by 295.1% in the third quarter. JPMorgan Chase & Co. now owns 234,720 shares of the real estate investment trust’s stock worth $1,645,000 after buying an additional 175,311 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in Orchid Island Capital during the 3rd quarter valued at $96,000. 32.74% of the stock is currently owned by hedge funds and other institutional investors.

Orchid Island Capital Company Profile

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.