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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 16.83%. The ex-dividend date of this dividend is Friday, February 28th.

Orchid Island Capital has raised its dividend by an average of 8.3% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 334.9% meaning 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 Stock Performance

ORC stock traded up $0.21 during trading on Thursday, reaching $8.56. 2,675,390 shares of the company were exchanged, compared to its average volume of 2,726,233. The stock’s 50 day moving average price is $7.98 and its 200 day moving average price is $7.99. Orchid Island Capital has a 52-week low of $7.41 and a 52-week high of $9.08. The company has a market cap of $683.12 million, a P/E ratio of 14.26 and a beta of 1.83.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. As a group, equities research analysts forecast that Orchid Island Capital will post 0.37 EPS for the current year.

Analysts Set New Price Targets

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

About Orchid Island Capital

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.