Orchid Island Capital, Inc. (ORC) To Go Ex-Dividend on December 31st

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Tuesday, December 9th. Stockholders of record on Wednesday, December 31st will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, January 29th. This represents a c) dividend on an annualized basis and a dividend yield of 19.7%. The ex-dividend date of this dividend is Wednesday, December 31st.

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 annually for the last 1 consecutive years. Orchid Island Capital has a payout ratio of 182.3% meaning 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 $0.43 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

Orchid Island Capital stock opened at $7.33 on Monday. The company has a market capitalization of $1.31 billion, a P/E ratio of 14.95 and a beta of 1.66. Orchid Island Capital has a fifty-two week low of $5.68 and a fifty-two week high of $9.01. The stock has a 50-day simple moving average of $7.31 and a 200-day simple moving average of $7.18.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $77.52 million for the quarter, compared to analysts’ expectations of $25.33 million. As a group, analysts forecast that Orchid Island Capital will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ORC has been the topic of a number of recent research reports. Compass Point started coverage on shares of Orchid Island Capital in a report on Monday, December 15th. They issued a “neutral” rating and a $7.50 target price on the stock. Wall Street Zen raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Orchid Island Capital in a research note on Monday, December 22nd. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $7.50.

Orchid Island Capital Company Profile

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.