Orchid Island Capital, Inc. Announces Monthly Dividend of $0.12 (NYSE:ORC)

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, March 19th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.12 per share by the real estate investment trust on Tuesday, April 29th. This represents a $1.44 annualized dividend and a dividend yield of 17.47%. The ex-dividend date of this dividend is Monday, March 31st.

Orchid Island Capital has raised its dividend payment by an average of 8.3% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 334.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Orchid Island Capital to earn $0.43 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 334.9%.

Orchid Island Capital Price Performance

Shares of NYSE ORC traded down $0.09 during midday trading on Thursday, reaching $8.25. 2,813,346 shares of the company traded hands, compared to its average volume of 2,030,692. The stock has a 50-day moving average price of $8.29 and a 200 day moving average price of $8.06. The company has a market cap of $769.21 million, a price-to-earnings ratio of 13.74 and a beta of 1.90. Orchid Island Capital has a 52 week low of $7.41 and a 52 week high of $9.08.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. As a group, analysts expect that Orchid Island Capital will post 0.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd.

Orchid Island Capital Company Profile

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.