Orchid Island Capital, Inc. Announces Monthly Dividend of $0.10 (NYSE:ORC)

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Monday, September 14th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.10 per share by the real estate investment trust on Thursday, October 29th. This represents a c) annualized dividend and a yield of 19.2%. The ex-dividend date is Wednesday, September 30th.

Orchid Island Capital has decreased its dividend 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 151.9% meaning 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 Down 1.2%

ORC stock opened at $6.25 on Tuesday. The firm has a fifty day moving average price of $6.62 and a two-hundred day moving average price of $6.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 509.34 and a quick ratio of 509.34. Orchid Island Capital has a 1-year low of $6.22 and a 1-year high of $8.40. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 4.23 and a beta of 1.55.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $59.97 million for the quarter, compared to analyst estimates of $74.26 million.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ORC shares. Weiss Ratings upgraded Orchid Island Capital from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 15th. BTIG Research started coverage on Orchid Island Capital in a research note on Thursday, July 9th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $7.50.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a real estate investment trust (REIT) focused on investing in residential mortgage-backed securities (RMBS). Its portfolio primarily consists of agency RMBS, which are securities issued or guaranteed by U.S. government-sponsored entities such as Fannie Mae and Freddie Mac, or by government agencies such as Ginnie Mae.

The company seeks to generate income from its investments and finances portions of its portfolio through borrowings, including repurchase agreements.