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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, March 18th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Wednesday, April 29th. This represents a c) dividend on an annualized basis and a dividend yield of 20.2%. The ex-dividend date is Tuesday, March 31st.

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 annually for the last 1 consecutive 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. 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 Price Performance

Orchid Island Capital stock opened at $7.14 on Thursday. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $7.67 and a 200 day moving average price of $7.39. Orchid Island Capital has a 12-month low of $5.68 and a 12-month high of $8.44. The stock has a market cap of $1.36 billion, a P/E ratio of 6.86 and a beta of 1.67.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $124.78 million during the quarter, compared to analyst estimates of $35.74 million. Sell-side analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ORC shares. Compass Point assumed coverage on Orchid Island Capital in a report on Monday, December 15th. They issued a “neutral” rating and a $7.50 price objective on the stock. Weiss Ratings raised Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.