Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.12 on April 29th

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, March 19th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.12 per share by the real estate investment trust on Tuesday, April 29th. This represents a $1.44 annualized dividend and a yield of 18.79%. The ex-dividend date of this dividend is Monday, March 31st.

Orchid Island Capital has raised its dividend by an average of 8.3% annually over the last three years. Orchid Island Capital has a payout ratio of 240.0% meaning 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 $0.43 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 Down 3.6 %

Orchid Island Capital stock opened at $7.66 on Friday. The firm has a market cap of $715.01 million, a PE ratio of 12.77 and a beta of 1.90. Orchid Island Capital has a 12 month low of $7.41 and a 12 month high of $9.01. The stock’s 50 day simple moving average is $8.33 and its two-hundred day simple moving average is $8.06.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on ORC shares. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd. StockNews.com lowered Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Thursday.

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.