Short Interest in Orchid Island Capital, Inc. (NYSE:ORC) Expands By 41.0%

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 6,220,000 shares, an increase of 41.0% from the March 15th total of 4,410,000 shares. Based on an average daily trading volume, of 3,450,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 6.7% of the company's stock are sold short.

Orchid Island Capital Price Performance

Shares of NYSE ORC traded up $0.16 during mid-day trading on Friday, hitting $6.55. The company's stock had a trading volume of 3,697,875 shares, compared to its average volume of 2,367,812. Orchid Island Capital has a one year low of $5.69 and a one year high of $9.01. The company's fifty day simple moving average is $7.80 and its 200-day simple moving average is $7.87. The stock has a market cap of $610.61 million, a price-to-earnings ratio of 10.91 and a beta of 1.68.

Orchid Island Capital (NYSE:ORC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.08. On average, sell-side analysts predict 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 Thursday, May 29th. Stockholders of record on Wednesday, April 30th will be issued a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 22.00%. The ex-dividend date of this dividend is Wednesday, April 30th. Orchid Island Capital's payout ratio is 240.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its position in shares of Orchid Island Capital by 3,379.3% during the 4th quarter. Invesco Ltd. now owns 2,354,065 shares of the real estate investment trust's stock valued at $18,315,000 after purchasing an additional 2,286,405 shares in the last quarter. Vanguard Group Inc. increased its stake in Orchid Island Capital by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 4,238,780 shares of the real estate investment trust's stock worth $32,978,000 after acquiring an additional 456,209 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Orchid Island Capital by 34.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,650,122 shares of the real estate investment trust's stock valued at $13,566,000 after acquiring an additional 421,718 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Orchid Island Capital by 79.0% during the 4th quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust's stock valued at $6,972,000 after acquiring an additional 395,650 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Orchid Island Capital by 13.0% during the third quarter. State Street Corp now owns 1,073,495 shares of the real estate investment trust's stock worth $8,952,000 after purchasing an additional 123,239 shares in the last quarter. Institutional investors own 32.74% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Orchid Island Capital from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. JMP Securities reissued 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.

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