Orchid Island Capital, Inc. (NYSE:ORC – Get Rating) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 11,440,000 shares, a drop of 25.8% from the May 31st total of 15,410,000 shares. Approximately 23.6% of the company’s shares are short sold. Based on an average trading volume of 3,060,000 shares, the days-to-cover ratio is currently 3.7 days.
Separately, StockNews.com started coverage on shares of Orchid Island Capital in a research note on Thursday, March 31st. They issued a “sell” rating on the stock.
ORC opened at $2.93 on Friday. The firm’s fifty day moving average is $2.94 and its two-hundred day moving average is $3.46. The firm has a market cap of $518.95 million, a PE ratio of -2.71 and a beta of 1.32. Orchid Island Capital has a twelve month low of $2.44 and a twelve month high of $5.29.
The company also recently announced a monthly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Thursday, June 30th will be issued a $0.045 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $0.54 annualized dividend and a yield of 18.43%. Orchid Island Capital’s dividend payout ratio (DPR) is presently -50.00%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio raised its holdings in Orchid Island Capital by 11.2% in the fourth quarter. Strs Ohio now owns 31,700 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 3,200 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of Orchid Island Capital by 0.9% during the first quarter. Advisor Group Holdings Inc. now owns 364,538 shares of the real estate investment trust’s stock worth $1,185,000 after acquiring an additional 3,429 shares during the period. Titleist Asset Management LTD. raised its holdings in shares of Orchid Island Capital by 15.3% during the first quarter. Titleist Asset Management LTD. now owns 32,991 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 4,383 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Orchid Island Capital by 4.1% during the fourth quarter. Allianz Asset Management GmbH now owns 153,400 shares of the real estate investment trust’s stock worth $690,000 after acquiring an additional 6,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Orchid Island Capital by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 371,618 shares of the real estate investment trust’s stock worth $1,208,000 after acquiring an additional 6,844 shares during the period. Institutional investors own 21.81% of the company’s stock.
About Orchid Island Capital (Get Rating)
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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