Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Thursday, August 10th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be given a dividend of 0.14 per share by the real estate investment trust on Friday, September 8th. This represents a $1.68 annualized dividend and a yield of 17.55%. The ex-dividend date of this dividend is Tuesday, August 29th.

Orchid Island Capital has raised its dividend by an average of 3.4% annually over the last three years.

Shares of Orchid Island Capital (NYSE ORC) opened at 9.57 on Friday. The company has a 50-day moving average of $9.83 and a 200 day moving average of $10.35. The company’s market capitalization is $433.55 million. Orchid Island Capital has a 52-week low of $9.18 and a 52-week high of $12.60.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Monday, July 31st. The real estate investment trust reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.68. Analysts predict that Orchid Island Capital will post $1.09 earnings per share for the current year.

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In related news, Director W Coleman Bitting purchased 2,912 shares of Orchid Island Capital stock in a transaction on Monday, June 19th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $29,411.20. Following the completion of the acquisition, the director now owns 18,650 shares of the company’s stock, valued at approximately $188,365. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.

A number of equities research analysts have commented on the stock. TheStreet cut shares of Orchid Island Capital from a “c” rating to a “d” rating in a report on Monday, July 31st. BidaskClub cut shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a report on Friday, July 28th.

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.

Dividend History for Orchid Island Capital (NYSE:ORC)

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