Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.10 on May 28th

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, April 15th. Stockholders of record on Thursday, April 30th will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, May 28th. This represents a c) dividend on an annualized basis and a dividend yield of 17.7%. The ex-dividend date of this dividend is Thursday, April 30th.

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 annually for the last 1 consecutive years. Orchid Island Capital has a payout ratio of 182.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Down 7.7%

ORC opened at $6.80 on Friday. The company has a market cap of $1.33 billion, a PE ratio of 6.53 and a beta of 1.63. Orchid Island Capital has a twelve month low of $6.28 and a twelve month high of $8.40. The company has a 50-day moving average price of $7.28 and a 200 day moving average price of $7.39. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.09.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $124.78 million during the quarter, compared to analyst estimates of $35.74 million. Sell-side analysts expect that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings downgraded Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Orchid Island Capital presently has an average rating of “Reduce” and a consensus price target of $7.50.

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.