Orchid Island Capital, Inc. (ORC) To Go Ex-Dividend on August 31st

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, August 12th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.10 per share by the real estate investment trust on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 18.1%. The ex-dividend date is Monday, August 31st.

Orchid Island Capital has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Orchid Island Capital has a dividend payout ratio of 151.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Orchid Island Capital Stock Performance

NYSE:ORC opened at $6.62 on Friday. The firm has a market capitalization of $1.32 billion, a PE ratio of 4.48 and a beta of 1.55. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.34. Orchid Island Capital has a 12-month low of $6.31 and a 12-month high of $8.40. The firm has a 50-day moving average price of $6.69 and a 200 day moving average price of $7.03.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The business had revenue of $59.97 million during the quarter, compared to the consensus estimate of $74.26 million.

Hedge Funds Weigh In On Orchid Island Capital

A number of institutional investors have recently modified their holdings of ORC. GAMMA Investing LLC lifted its position in shares of Orchid Island Capital by 91.0% during the second quarter. GAMMA Investing LLC now owns 3,650 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,739 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Orchid Island Capital by 64.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,502 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Orchid Island Capital by 32,505.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 6,501 shares during the last quarter. McIlrath & Eck LLC raised its position in Orchid Island Capital by 157.2% in the 1st quarter. McIlrath & Eck LLC now owns 7,418 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 4,534 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Orchid Island Capital during the 2nd quarter worth $55,000. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Company Profile

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.