Orchid Island Capital Inc. (ORC) Sets New 12-Month High at $10.98
Orchid Island Capital Inc. (NYSE:ORC) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.98 and last traded at $10.96, with a volume of 213,152 shares traded. The stock had previously closed at $10.86.
ORC has been the topic of a number of analyst reports. National Securities reaffirmed a “buy” rating and issued a $11.00 price objective (down previously from $12.00) on shares of Orchid Island Capital in a research report on Monday, May 2nd. Zacks Investment Research raised shares of Orchid Island Capital from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Thursday, May 5th.
The firm has a 50 day moving average of $10.45 and a 200-day moving average of $9.99. The company’s market cap is $237.65 million.
Orchid Island Capital (NYSE:ORC) last announced its earnings results on Wednesday, April 27th. The company reported ($0.21) earnings per share for the quarter. On average, analysts expect that Orchid Island Capital Inc. will post $0.13 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Friday, July 29th. Shareholders of record on Wednesday, July 27th will be paid a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a yield of 15.40%. The ex-dividend date of this dividend is Monday, July 25th.
Orchid Island Capital, Inc (Orchid) is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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