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, November 12th. Stockholders of record on Friday, November 28th will be given a dividend of 0.12 per share by the real estate investment trust on Tuesday, December 30th. This represents a c) annualized dividend and a dividend yield of 19.6%. The ex-dividend date of this dividend is Friday, November 28th.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. Orchid Island Capital has a payout ratio of 182.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

Shares of NYSE ORC traded up $0.03 during trading on Thursday, reaching $7.34. The stock had a trading volume of 820,119 shares, compared to its average volume of 4,148,753. The firm’s 50 day moving average price is $7.23 and its two-hundred day moving average price is $7.14. Orchid Island Capital has a one year low of $5.68 and a one year high of $9.01. The stock has a market cap of $1.11 billion, a PE ratio of 14.95 and a beta of 1.57.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $77.52 million for the quarter, compared to analyst estimates of $25.33 million. On average, research analysts expect that Orchid Island Capital will post 0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Orchid Island Capital by 26.0% in the first quarter. Vanguard Group Inc. now owns 5,341,095 shares of the real estate investment trust’s stock valued at $40,165,000 after purchasing an additional 1,102,315 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Orchid Island Capital by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 716,584 shares of the real estate investment trust’s stock worth $5,389,000 after buying an additional 52,929 shares during the last quarter. Magnetar Financial LLC bought a new stake in Orchid Island Capital during the first quarter worth $688,000. OMERS ADMINISTRATION Corp acquired a new stake in Orchid Island Capital in the first quarter valued at $717,000. Finally, Wolverine Asset Management LLC grew its position in shares of Orchid Island Capital by 416.3% in the 1st quarter. Wolverine Asset Management LLC now owns 798,360 shares of the real estate investment trust’s stock valued at $6,004,000 after acquiring an additional 643,717 shares during the period. 32.74% of the stock is owned by institutional investors.

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.