Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Up 42.3% in May

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 6,430,000 shares, an increase of 42.3% from the May 15th total of 4,520,000 shares. Based on an average daily volume of 3,990,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 6.9% of the company's shares are short sold.

Orchid Island Capital Price Performance

NYSE ORC traded up $0.11 during midday trading on Thursday, hitting $7.05. 3,434,828 shares of the company traded hands, compared to its average volume of 2,727,718. The company has a market cap of $853.92 million, a PE ratio of 17.61 and a beta of 1.49. The company's 50-day simple moving average is $6.95 and its 200-day simple moving average is $7.62. Orchid Island Capital has a 52 week low of $5.69 and a 52 week high of $9.01.

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

Orchid Island Capital Dividend Announcement

The firm also recently disclosed a jun 25 dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be given a $0.12 dividend. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 20.5%. Orchid Island Capital's payout ratio is 360.00%.

Institutional Trading of Orchid Island Capital

A number of institutional investors have recently made changes to their positions in ORC. Rogco LP acquired a new stake in shares of Orchid Island Capital in the 1st quarter worth $28,000. US Bancorp DE boosted its position in shares of Orchid Island Capital by 1,123.1% in the 1st quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 3,504 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of 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 worth $48,000 after purchasing an additional 1,522 shares in the last quarter. Quarry LP acquired a new stake in shares of Orchid Island Capital in the 1st quarter worth $50,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Orchid Island Capital by 73.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 3,012 shares in the last quarter. Institutional investors and hedge funds own 32.74% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.