Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Up 64.8% in September

Key Points

• The short interest for Orchid Island Capital, Inc. (NYSE:ORC) surged by 64.8% in September, reaching a total of 12,990,000 shares as of September 30th.
• The company announced a monthly dividend of $0.12 per share with a yield of 19.3%, expected to be paid on November 26th.
• Wall Street analysts have generally downgraded the stock, with some issuing a "strong sell" rating, reflecting a consensus rating of "Reduce."

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 12,990,000 shares, a growth of 64.8% from the September 15th total of 7,880,000 shares. Based on an average daily trading volume, of 4,610,000 shares, the days-to-cover ratio is presently 2.8 days. Based on an average daily trading volume, of 4,610,000 shares, the days-to-cover ratio is presently 2.8 days.

Orchid Island Capital Stock Performance

Shares of Orchid Island Capital stock traded down $0.02 during mid-day trading on Wednesday, hitting $7.47. 4,629,290 shares of the stock were exchanged, compared to its average volume of 5,146,141. Orchid Island Capital has a 12 month low of $5.68 and a 12 month high of $9.01. The company has a 50-day simple moving average of $7.14 and a 200 day simple moving average of $7.03. The company has a market capitalization of $1.09 billion, a P/E ratio of 37.33 and a beta of 1.53.

Orchid Island Capital (NYSE:ORC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The company had revenue of $23.15 million during the quarter, compared to analysts' expectations of $23.25 million. Analysts predict that Orchid Island Capital will post 0.37 EPS for the current year.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.12 per share. This represents a c) annualized dividend and a yield of 19.3%. The ex-dividend date of this dividend is Friday, October 31st. Orchid Island Capital's dividend payout ratio is 720.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ORC shares. Wall Street Zen cut shares of Orchid Island Capital from a "hold" rating to a "strong sell" rating in a research report on Saturday, July 26th. Weiss Ratings reiterated a "sell (d)" rating on shares of Orchid Island Capital in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Orchid Island Capital has a consensus rating of "Reduce".

Institutional Trading of Orchid Island Capital

A number of large investors have recently bought and sold shares of ORC. Bogart Wealth LLC lifted its position in shares of Orchid Island Capital by 64.2% during the 2nd quarter. Bogart Wealth LLC now owns 3,940 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 1,540 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Orchid Island Capital by 17.8% during the second quarter. Prudential Financial Inc. now owns 13,189 shares of the real estate investment trust's stock valued at $92,000 after purchasing an additional 1,995 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Orchid Island Capital by 4.8% in the second quarter. Nisa Investment Advisors LLC now owns 50,248 shares of the real estate investment trust's stock worth $358,000 after purchasing an additional 2,315 shares in the last quarter. CWM LLC grew its stake in 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 buying an additional 2,502 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Orchid Island Capital by 52.1% during the 1st quarter. Russell Investments Group Ltd. now owns 9,379 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 3,214 shares during the period. 32.74% of the stock is owned by hedge funds and other institutional investors.

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.

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