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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, December 11th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, January 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.87%. The ex-dividend date is Tuesday, December 31st.

Orchid Island Capital has raised its dividend payment by an average of 164.3% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 576.0% 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 $0.22 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 654.5%.

Orchid Island Capital Stock Up 0.5 %

NYSE ORC traded up $0.04 on Wednesday, hitting $8.06. 934,449 shares of the stock were exchanged, compared to its average volume of 1,618,573. Orchid Island Capital has a fifty-two week low of $7.41 and a fifty-two week high of $9.08. The company has a market cap of $632.07 million, a PE ratio of 7.67 and a beta of 1.84. The company has a 50-day moving average price of $7.85 and a 200-day moving average price of $8.14.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). During the same quarter last year, the firm posted ($0.28) earnings per share. As a group, equities research analysts predict that Orchid Island Capital will post -0.25 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a report on Wednesday, August 28th.

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.