Orchid Island Capital, Inc. (NYSE:ORC) Sees Significant Growth in Short Interest

Orchid Island Capital, Inc. (NYSE:ORC) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 12,764,933 shares, an increase of 19.7% from the February 12th total of 10,663,145 shares. Currently, 6.7% of the company’s stock are short sold. Based on an average trading volume of 6,766,951 shares, the short-interest ratio is presently 1.9 days. Based on an average trading volume of 6,766,951 shares, the short-interest ratio is presently 1.9 days. Currently, 6.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Orchid Island Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. purchased a new position in shares of Orchid Island Capital during the third quarter worth about $29,000. CWM LLC boosted its position in shares of Orchid Island Capital by 123.1% in the 3rd quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 2,502 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Orchid Island Capital by 64.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,502 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Orchid Island Capital by 32,505.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 6,501 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Orchid Island Capital during the second quarter worth approximately $55,000. 32.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Orchid Island Capital Stock Up 0.1%

NYSE ORC traded up $0.01 during trading on Wednesday, reaching $7.25. 3,621,123 shares of the company’s stock were exchanged, compared to its average volume of 6,897,762. The company has a 50 day moving average price of $7.68 and a two-hundred day moving average price of $7.39. The stock has a market cap of $1.38 billion, a P/E ratio of 6.97 and a beta of 1.67. Orchid Island Capital has a 1 year low of $5.68 and a 1 year high of $8.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 509.34 and a current ratio of 509.34.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $124.78 million for the quarter, compared to analysts’ expectations of $35.74 million. On average, equities research analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be given a $0.12 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 19.9%. The ex-dividend date of this dividend is Friday, February 27th. Orchid Island Capital’s dividend payout ratio (DPR) is 138.46%.

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.