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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, January 7th. Stockholders of record on Friday, January 30th will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, February 26th. This represents a c) dividend on an annualized basis and a dividend yield of 19.2%. The ex-dividend date of this dividend is Friday, January 30th.

Orchid Island Capital has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 1 years. Orchid Island Capital has a dividend 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. 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 Down 0.2%

NYSE:ORC opened at $7.48 on Thursday. The company has a market capitalization of $1.34 billion, a PE ratio of 15.27 and a beta of 1.67. Orchid Island Capital has a 52-week low of $5.68 and a 52-week high of $9.01. The stock has a fifty day simple moving average of $7.28 and a 200-day simple moving average of $7.20.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC lifted its stake in shares of Orchid Island Capital by 64.2% during the 2nd quarter. Bogart Wealth LLC now owns 3,940 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 1,540 shares during the period. Geneos Wealth Management Inc. purchased a new position in Orchid Island Capital during the third quarter worth about $29,000. CWM LLC lifted its position in Orchid Island Capital by 123.1% during the third quarter. CWM LLC now owns 4,534 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 2,502 shares during the period. Raymond James Financial Inc. acquired a new stake in Orchid Island Capital in the 2nd quarter worth about $55,000. Finally, Rogco LP grew its holdings in Orchid Island Capital by 115.5% in the 3rd quarter. Rogco LP now owns 7,975 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 4,275 shares during the period. 32.74% of the stock is currently owned by institutional investors and hedge funds.

About Orchid Island Capital

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.