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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Tuesday, December 10th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, January 30th. This represents a $1.44 annualized dividend and a yield of 17.87%. The ex-dividend date is Tuesday, December 31st.

Orchid Island Capital has raised its dividend 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. Equities 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 %

ORC stock traded up $0.04 during trading on Wednesday, hitting $8.06. The company had a trading volume of 1,227,099 shares, compared to its average volume of 1,620,178. The firm has a market capitalization of $632.07 million, a P/E ratio of 7.67 and a beta of 1.84. Orchid Island Capital has a 52-week low of $7.41 and a 52-week high of $9.08. The company has a 50 day simple moving average of $7.85 and a 200-day simple moving average of $8.14.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). During the same quarter in the previous year, the company posted ($0.28) earnings per share. Sell-side analysts forecast that Orchid Island Capital will post -0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JMP Securities reiterated 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.