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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.12 per share by the real estate investment trust on Monday, December 30th. This represents a $1.44 annualized dividend and a yield of 18.54%. The ex-dividend date of this dividend is Friday, November 29th.

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 1,028.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Down 0.3 %

NYSE:ORC traded down $0.03 during mid-day trading on Thursday, hitting $7.77. 1,133,814 shares of the stock traded hands, compared to its average volume of 1,625,225. The stock has a market capitalization of $608.93 million, a price-to-earnings ratio of 7.40 and a beta of 1.85. Orchid Island Capital has a 52 week low of $7.00 and a 52 week high of $9.08. The firm’s 50 day moving average is $7.97 and its two-hundred day moving average is $8.23.

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. As a group, research analysts predict that Orchid Island Capital will post -0.25 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.