Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Down 33.4% in October

Orchid Island Capital, Inc. (NYSE:ORC) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 8,650,000 shares, a drop of 33.4% from the September 30th total of 12,990,000 shares. Approximately 5.9% of the company’s stock are sold short. Based on an average daily volume of 4,760,000 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 4,760,000 shares, the short-interest ratio is presently 1.8 days. Approximately 5.9% of the company’s stock are sold short.

Institutional Investors Weigh In On Orchid Island Capital

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Orchid Island Capital by 537.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,585,508 shares of the real estate investment trust’s stock worth $26,963,000 after buying an additional 3,023,062 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Orchid Island Capital by 26.0% in the 1st quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust’s stock valued at $40,165,000 after buying an additional 1,102,315 shares during the period. Millennium Management LLC boosted its stake in Orchid Island Capital by 234.9% during the 1st quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust’s stock valued at $7,794,000 after purchasing an additional 726,907 shares during the period. Bank of America Corp DE boosted its stake in Orchid Island Capital by 1,338.0% during the 2nd quarter. Bank of America Corp DE now owns 701,837 shares of the real estate investment trust’s stock valued at $4,920,000 after purchasing an additional 653,030 shares during the period. Finally, Wolverine Asset Management LLC boosted its stake in Orchid Island Capital by 416.3% during the 1st quarter. Wolverine Asset Management LLC now owns 798,360 shares of the real estate investment trust’s stock valued at $6,004,000 after purchasing an additional 643,717 shares during the period. Institutional investors and hedge funds own 32.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ORC. Weiss Ratings restated a “sell (d)” rating on shares of Orchid Island Capital in a research report on Wednesday, October 8th. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.

Orchid Island Capital Trading Up 1.7%

Shares of NYSE ORC traded up $0.13 during trading on Tuesday, reaching $7.39. 3,713,735 shares of the company traded hands, compared to its average volume of 4,119,522. The firm’s fifty day simple moving average is $7.19 and its 200 day simple moving average is $7.11. The stock has a market cap of $1.12 billion, a P/E ratio of 15.07 and a beta of 1.57. Orchid Island Capital has a 12-month low of $5.68 and a 12-month high of $9.01.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $26.92 million for the quarter, compared to analyst estimates of $25.33 million. As a group, research analysts expect that Orchid Island Capital will post 0.37 EPS for the current year.

Orchid Island Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, October 31st will be paid a $0.12 dividend. This represents a c) annualized dividend and a yield of 19.5%. The ex-dividend date is Friday, October 31st. Orchid Island Capital’s dividend payout ratio is currently 293.88%.

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.