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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, February 11th. Shareholders of record on Friday, February 27th will be given a dividend of 0.12 per share by the real estate investment trust on Monday, March 30th. This represents a c) dividend on an annualized basis and a dividend yield of 19.2%. The ex-dividend date is Friday, February 27th.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. Orchid Island Capital has a dividend payout ratio of 182.3% 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 Price Performance

Shares of NYSE ORC opened at $7.49 on Thursday. The company has a 50-day moving average price of $7.60 and a 200-day moving average price of $7.34. The stock has a market capitalization of $1.37 billion, a P/E ratio of 7.20 and a beta of 1.68. Orchid Island Capital has a 1 year low of $5.68 and a 1 year high of $9.01.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $109.23 million during the quarter, compared to analyst estimates of $35.74 million. As a group, equities research analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

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.