Orchid Island Capital (NYSE:ORC) Sets New 52-Week High at $6.16

Shares of Orchid Island Capital, Inc. (NYSE:ORC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $6.16 and last traded at $6.14, with a volume of 30482 shares changing hands. The stock had previously closed at $6.11.

Separately, Jonestrading upped their target price on Orchid Island Capital from $5.50 to $6.00 and gave the company a “buy” rating in a report on Friday, January 15th.

The firm has a 50 day simple moving average of $5.89 and a 200 day simple moving average of $5.48. The firm has a market cap of $579.13 million, a P/E ratio of 204.67 and a beta of 1.36.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Friday, February 26th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.03). On average, equities analysts predict that Orchid Island Capital, Inc. will post 1.16 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Wednesday, March 31st will be paid a dividend of $0.065 per share. The ex-dividend date is Tuesday, March 30th. This represents a $0.78 annualized dividend and a dividend yield of 12.70%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 90.70%.

Institutional investors and hedge funds have recently bought and sold shares of the company. NEXT Financial Group Inc increased its stake in shares of Orchid Island Capital by 67.7% during the fourth quarter. NEXT Financial Group Inc now owns 7,736 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 3,122 shares during the period. IFP Advisors Inc bought a new stake in shares of Orchid Island Capital during the fourth quarter valued at approximately $53,000. Victory Capital Management Inc. bought a new stake in shares of Orchid Island Capital during the fourth quarter valued at approximately $56,000. Paloma Partners Management Co bought a new stake in shares of Orchid Island Capital during the fourth quarter valued at approximately $60,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Orchid Island Capital during the fourth quarter valued at approximately $77,000. 34.46% of the stock is currently owned by hedge funds and other institutional investors.

About Orchid Island Capital (NYSE:ORC)

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS are backed primarily 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, including interest only securities, inverse interest only securities, and principal only securities.

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