Orchid Island Capital, Inc. (ORC) to Distribute Monthly Dividend of $0.10 on July 30th

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Tuesday, June 9th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, July 30th. This represents a c) dividend on an annualized basis and a dividend yield of 17.3%. The ex-dividend date is Tuesday, June 30th.

Orchid Island Capital has decreased its dividend payment 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 payout ratio of 151.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Orchid Island Capital Stock Up 1.2%

ORC opened at $6.95 on Friday. The company has a market capitalization of $1.39 billion, a P/E ratio of 9.26 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 509.34 and a quick ratio of 509.34. The firm’s fifty day moving average price is $6.82 and its two-hundred day moving average price is $7.23. Orchid Island Capital has a fifty-two week low of $6.41 and a fifty-two week high of $8.40.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of ($12.56) million during the quarter, compared to analyst estimates of $33.03 million.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ORC. Weiss Ratings lowered Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. Wall Street Zen lowered Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $7.50.

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.