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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Thursday, February 13th,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 annualized dividend and a yield of 16.83%. The ex-dividend date of this dividend 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 payout ratio of 334.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Trading Up 2.5 %

Shares of NYSE ORC traded up $0.21 during midday trading on Thursday, reaching $8.56. The company’s stock had a trading volume of 2,674,887 shares, compared to its average volume of 2,726,192. Orchid Island Capital has a fifty-two week low of $7.41 and a fifty-two week high of $9.08. The stock has a market capitalization of $683.12 million, a price-to-earnings ratio of 14.26 and a beta of 1.83. The stock has a 50 day simple moving average of $7.98 and a 200-day simple moving average of $7.99.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. As a group, equities analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current year.

Wall Street Analyst Weigh In

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

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.