Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Up 48.0% in August

Key Points

• Orchid Island Capital's short interest rose by 48.0% in August, reaching a total of 10,240,000 shares, which represents approximately 8.1% of the company's stock sold short.
• The stock was downgraded from a "hold" to a "strong sell" rating by Wall Street Zen, while the average rating remains a "hold" from two other equity analysts.
• Orchid Island Capital recently announced a $0.12 per share dividend set to be paid on October 30th, reflecting a substantial yield of 2,000.0%.

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 10,240,000 shares, an increase of 48.0% from the August 15th total of 6,920,000 shares. Based on an average daily volume of 4,120,000 shares, the short-interest ratio is presently 2.5 days. Currently, 8.1% of the shares of the company are sold short. Currently, 8.1% of the shares of the company are sold short. Based on an average daily volume of 4,120,000 shares, the short-interest ratio is presently 2.5 days.

Institutional Trading of Orchid Island Capital

Several institutional investors and hedge funds have recently bought and sold shares of ORC. Northern Trust Corp lifted its stake in Orchid Island Capital by 16.8% in the 4th quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust's stock worth $5,310,000 after purchasing an additional 98,030 shares in the last quarter. Jane Street Group LLC lifted its stake in Orchid Island Capital by 12.4% in the 4th quarter. Jane Street Group LLC now owns 59,986 shares of the real estate investment trust's stock worth $467,000 after purchasing an additional 6,616 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Orchid Island Capital by 79.0% in the 4th quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock worth $6,972,000 after purchasing an additional 395,650 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Orchid Island Capital in the 4th quarter worth $125,000. Finally, Bank of America Corp DE increased its holdings in shares of Orchid Island Capital by 55.2% in the 4th quarter. Bank of America Corp DE now owns 71,974 shares of the real estate investment trust's stock worth $560,000 after buying an additional 25,585 shares during the last quarter. 32.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Orchid Island Capital from a "hold" rating to a "strong sell" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Orchid Island Capital presently has a consensus rating of "Hold".

Orchid Island Capital Trading Down 1.0%

Shares of NYSE ORC traded down $0.07 during midday trading on Friday, hitting $7.01. The company's stock had a trading volume of 11,743,778 shares, compared to its average volume of 4,301,496. The stock has a fifty day moving average price of $7.12 and a 200 day moving average price of $7.16. Orchid Island Capital has a one year low of $5.68 and a one year high of $9.01. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 35.05 and a beta of 1.51.

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

Orchid Island Capital Dividend Announcement

The company also recently announced a sep 25 dividend, which will be paid on Thursday, October 30th. Shareholders of record on Tuesday, September 30th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, September 30th. This represents a yield of 2,000.0%. Orchid Island Capital's dividend payout ratio is currently 720.00%.

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.