Orchid Island Capital, Inc. (NYSE:ORC – Get Rating) was the target of a significant drop in short-term interest in June. As of June 15, there was short interest totaling 11,440,000 shares, a decrease of 25.8% from the total of 15,410,000 shares as of May 31. Based on an average daily volume of 3,060,000 shares, the short interest rate is currently 3.7 days. Currently, 23.6% of the company’s shares are sold short.
Several institutional investors and hedge funds have recently changed their positions in ORC. Vanguard Group Inc. increased its equity stake in Orchid Island Capital by 50.3% during the 1st quarter. Vanguard Group Inc. now owns 10,183,641 shares of the real estate investment trust worth $33,097,000 after purchasing an additional 3,406,623 shares during the period. State Street Corp increased its stake in shares of Orchid Island Capital by 17.6% in the 1st quarter. State Street Corp now owns 2,541,958 shares of the real estate investment trust worth $8,374,000 after purchasing an additional 380,388 shares during the period. Van ECK Associates Corp increased its equity stake in Orchid Island Capital by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 1,391,220 shares of the real estate investment trust worth $6,260,000 after purchasing an additional 352,396 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Orchid Island Capital during Q3 for a value of approximately $606,000. Finally, Northern Trust Corp increased its stake in shares of Orchid Island Capital by 10.7% during the 4th quarter. Northern Trust Corp now owns 1,252,953 shares of the real estate investment trust worth $5,638,000 after purchasing an additional 121,251 shares during the period. 21.81% of the shares are held by institutional investors.
ORC shares opened at $2.93 on Friday. The company has a 50-day moving average of $2.94 and a 200-day moving average of $3.46. Orchid Island Capital has a one-year low of $2.44 and a one-year high of $5.29. The company has a market capitalization of $518.95 million, a PE ratio of -2.71 and a beta of 1.32.
The company also recently announced a monthly dividend, which will be paid on Wednesday, July 27. Shareholders of record on Thursday, June 30 will receive a dividend of $0.045. This represents a dividend of $0.54 on an annualized basis and a dividend yield of 18.43%. The ex-dividend date is Wednesday, June 29. Orchid Island Capital’s dividend payout ratio (DPR) is currently -50.00%.
Separately, StockNews.com began covering Orchid Island Capital stocks in a research report on Thursday, March 31. They issued a “sell” rating for the company.
Orchid Island Capital Company Profile (Get a 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 mortgages, referred to as Agency RMBS. Its portfolio includes traditional transfer agency RMBS, such as mortgage transfer certificates and secured mortgage bonds; and structured agency RMBS comprising interest only securities, inverse interest only securities and principal only securities.
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