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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, June 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 16.76%. The ex-dividend date of this dividend is Friday, May 31st.

Orchid Island Capital has increased its dividend payment by an average of 164.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 1,600.0% 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 $0.12 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 1,200.0%.

Orchid Island Capital Price Performance

ORC stock opened at $8.59 on Friday. The firm has a fifty day moving average price of $8.59 and a two-hundred day moving average price of $8.15. Orchid Island Capital has a 1-year low of $5.90 and a 1-year high of $11.27. The firm has a market cap of $455.05 million, a price-to-earnings ratio of -16.19 and a beta of 1.82.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). During the same period last year, the firm earned ($0.24) EPS. As a group, analysts expect that Orchid Island Capital will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ORC shares. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, April 18th. StockNews.com upgraded Orchid Island Capital to a “sell” rating in a research report on Friday, February 9th.

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.