Orchid Island Capital, Inc. (NYSE:ORC) Short Interest Down 12.8% in September

Orchid Island Capital, Inc. (NYSE:ORC) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 3,480,000 shares, a drop of 12.8% from the August 31st total of 3,990,000 shares. Approximately 4.9% of the shares of the company are sold short. Based on an average daily volume of 2,110,000 shares, the days-to-cover ratio is currently 1.6 days.

Analysts Set New Price Targets

Several research firms recently issued reports on ORC. Janney Montgomery Scott initiated coverage on shares of Orchid Island Capital in a report on Thursday, June 6th. They set a “buy” rating and a $9.50 price target for the company. JMP Securities reissued a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th.

Hedge Funds Weigh In On Orchid Island Capital

Several institutional investors and hedge funds have recently modified their holdings of the company. EMG Holdings L.P. acquired a new stake in Orchid Island Capital in the 4th quarter worth about $4,364,000. TrueMark Investments LLC acquired a new position in Orchid Island Capital during the second quarter worth approximately $3,194,000. Significant Wealth Partners LLC increased its position in Orchid Island Capital by 266.8% during the first quarter. Significant Wealth Partners LLC now owns 459,194 shares of the real estate investment trust’s stock worth $4,101,000 after purchasing an additional 334,002 shares during the last quarter. CastleKnight Management LP purchased a new position in Orchid Island Capital during the fourth quarter worth approximately $1,791,000. Finally, Van ECK Associates Corp grew its stake in shares of Orchid Island Capital by 25.0% during the 2nd quarter. Van ECK Associates Corp now owns 498,079 shares of the real estate investment trust’s stock valued at $4,154,000 after buying an additional 99,713 shares during the period. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Stock Up 0.9 %

ORC stock opened at $8.25 on Friday. The stock’s 50 day moving average price is $8.17 and its 200 day moving average price is $8.41. Orchid Island Capital has a 1 year low of $5.90 and a 1 year high of $9.08.

Orchid Island Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 17.45%. Orchid Island Capital’s dividend payout ratio is currently -271.70%.

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.