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

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 4,520,000 shares, a decrease of 35.1% from the April 30th total of 6,960,000 shares. Based on an average trading volume of 3,970,000 shares, the short-interest ratio is currently 1.1 days. Approximately 4.9% of the company's stock are short sold.

Hedge Funds Weigh In On Orchid Island Capital

A number of large investors have recently made changes to their positions in ORC. Rogco LP bought a new stake in Orchid Island Capital during the first quarter valued at $28,000. US Bancorp DE boosted its stake in Orchid Island Capital by 1,123.1% during the first quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 3,504 shares during the period. Russell Investments Group Ltd. boosted its stake in Orchid Island Capital by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 6,165 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,522 shares during the period. Quarry LP bought a new stake in Orchid Island Capital during the first quarter valued at $50,000. Finally, Tower Research Capital LLC TRC boosted its stake in Orchid Island Capital by 73.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 3,012 shares during the period. 32.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jones Trading reiterated a "hold" rating on shares of Orchid Island Capital in a report on Wednesday, April 30th. Wall Street Zen raised Orchid Island Capital from a "sell" rating to a "hold" rating in a research report on Friday, May 16th.

Orchid Island Capital Stock Performance

NYSE ORC traded down $0.07 on Monday, hitting $6.77. 3,273,758 shares of the stock traded hands, compared to its average volume of 2,637,296. The business's fifty day moving average is $6.94 and its two-hundred day moving average is $7.71. Orchid Island Capital has a 12 month low of $5.69 and a 12 month high of $9.01. The firm has a market capitalization of $738.87 million, a price-to-earnings ratio of 11.28 and a beta of 1.54.

Orchid Island Capital (NYSE:ORC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The firm had revenue of $19.71 million during the quarter, compared to analysts' expectations of $11.96 million. Analysts expect that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Orchid Island Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 21.29%. The ex-dividend date of this dividend is Friday, May 30th. Orchid Island Capital's payout ratio is currently 360.00%.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.