Orchid Island Capital, Inc. (ORC) to Issue $0.14 Monthly Dividend
Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Thursday, July 13th, Wall Street Journal reports. Stockholders of record on Monday, July 31st will be paid a dividend of 0.14 per share by the real estate investment trust on Thursday, August 10th. This represents a $1.68 annualized dividend and a dividend yield of 17.55%. The ex-dividend date of this dividend is Thursday, July 27th.
Orchid Island Capital has increased its dividend by an average of 3.4% annually over the last three years.
Shares of Orchid Island Capital (ORC) traded up 0.84% on Tuesday, hitting $9.57. 503,181 shares of the stock traded hands. Orchid Island Capital has a 52 week low of $9.18 and a 52 week high of $12.60. The firm’s 50 day moving average is $9.89 and its 200 day moving average is $10.41. The firm’s market capitalization is $433.55 million.
Orchid Island Capital (NYSE:ORC) last announced its earnings results on Monday, July 31st. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.68. On average, analysts expect that Orchid Island Capital will post $1.09 EPS for the current fiscal year.
In other news, Director W Coleman Bitting acquired 2,912 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was bought at an average price of $10.10 per share, with a total value of $29,411.20. Following the acquisition, the director now owns 18,650 shares in the company, valued at approximately $188,365. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.
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Several equities research analysts recently weighed in on ORC shares. BidaskClub lowered Orchid Island Capital from a “buy” rating to a “hold” rating in a report on Friday, July 28th. TheStreet lowered Orchid Island Capital from a “c” rating to a “d” rating in a report on Monday, July 31st.
About Orchid Island Capital
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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