Short Interest in Orchid Island Capital, Inc. (NYSE:ORC) Decreases By 35.1%

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ORC. Rogco LP bought a new position in shares of Orchid Island Capital during the 1st quarter valued at approximately $28,000. US Bancorp DE grew its position in shares of Orchid Island Capital by 1,123.1% during the 1st quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 3,504 shares during the period. Russell Investments Group Ltd. lifted its stake in Orchid Island Capital by 32.8% in the 4th 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 in the last quarter. Quarry LP purchased a new position in Orchid Island Capital during the first quarter worth approximately $50,000. Finally, Tower Research Capital LLC TRC lifted its position in Orchid Island Capital by 73.3% in 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 last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

Orchid Island Capital Stock Up 0.3%

Shares of NYSE:ORC traded up $0.02 during trading on Wednesday, reaching $6.92. The stock had a trading volume of 1,362,854 shares, compared to its average volume of 3,602,982. The stock has a fifty day simple moving average of $6.89 and a two-hundred day simple moving average of $7.69. Orchid Island Capital has a 52 week low of $5.68 and a 52 week high of $9.01. The firm has a market capitalization of $755.80 million, a price-to-earnings ratio of 11.53 and a beta of 1.54.

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

Orchid Island Capital Dividend Announcement

The company 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 20.81%. The ex-dividend date is Friday, May 30th. Orchid Island Capital's payout ratio is 360.00%.

Analyst Upgrades and Downgrades

ORC has been the subject of a number of recent research reports. 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.

About Orchid Island Capital

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.