Orchid Island Capital, Inc. (NYSE:ORC) Sees Significant Drop in Short Interest

Orchid Island Capital, Inc. (NYSE:ORC) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 7,190,000 shares, a decrease of 16.3% from the December 31st total of 8,590,000 shares. Approximately 9.2% of the shares of the company are sold short. Based on an average trading volume of 2,100,000 shares, the short-interest ratio is presently 3.4 days.

Hedge Funds Weigh In On Orchid Island Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. McIlrath & Eck LLC acquired a new stake in Orchid Island Capital during the 3rd quarter worth about $58,000. Quadrature Capital Ltd acquired a new stake in Orchid Island Capital in the 3rd quarter valued at about $90,000. Prairie Sky Financial Group LLC purchased a new position in Orchid Island Capital in the 3rd quarter worth approximately $105,000. Intech Investment Management LLC acquired a new stake in shares of Orchid Island Capital during the 3rd quarter worth approximately $121,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Orchid Island Capital during the 2nd quarter worth approximately $134,000. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Price Performance

Shares of NYSE:ORC traded up $0.33 during trading on Friday, hitting $8.36. The company’s stock had a trading volume of 8,965,531 shares, compared to its average volume of 2,249,430. The company has a 50-day moving average of $7.90 and a 200-day moving average of $8.00. The firm has a market cap of $667.15 million, a price-to-earnings ratio of 7.96 and a beta of 1.82. Orchid Island Capital has a 12 month low of $7.41 and a 12 month high of $9.08.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. As a group, research analysts anticipate that Orchid Island Capital will post -0.25 earnings per share for the current year.

Orchid Island Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, January 31st. This represents a $1.44 annualized dividend and a dividend yield of 17.24%. Orchid Island Capital’s dividend payout ratio is presently 137.14%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, January 23rd.

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.