Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.12 on March 28th

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.12 per share by the real estate investment trust on Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 16.83%. The ex-dividend date is Friday, February 28th.

Orchid Island Capital has increased its dividend by an average of 8.3% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 334.9% meaning 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 Stock Up 2.5 %

Shares of NYSE:ORC opened at $8.56 on Friday. The firm has a market capitalization of $683.12 million, a PE ratio of 14.26 and a beta of 1.83. Orchid Island Capital has a twelve month low of $7.41 and a twelve month high of $9.08. The company has a 50-day moving average price of $7.98 and a two-hundred day moving average price of $7.99.

Orchid Island Capital (NYSE:ORC) last issued its 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. Analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd.

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.