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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Tuesday, November 10th. Investors of record on Monday, November 30th will be paid a dividend of $0.10 per share by the real estate investment trust on Thursday, December 31st. This represents a $1.20 annualized dividend and a dividend yield of 24.8%. The ex-dividend date is Monday, November 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 annually for the last 1 consecutive years. Orchid Island Capital has a dividend 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 Price Performance

NYSE ORC traded down $0.07 during trading hours on Wednesday, reaching $4.83. 1,005,970 shares of the company’s stock traded hands, compared to its average volume of 5,976,974. Orchid Island Capital has a 52-week low of $4.70 and a 52-week high of $8.40. The firm has a market cap of $933.12 million, a PE ratio of 96.70 and a beta of 1.64. The firm has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $6.63.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, October 22nd. The real estate investment trust reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.29 by ($1.19). The company had revenue of $59.13 million for the quarter, compared to analyst estimates of $73.41 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $7.50.

About Orchid Island Capital

Orchid Island Capital, Inc. is a mortgage real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio focuses on agency RMBS, whose principal and interest payments are guaranteed by U.S. government-sponsored enterprises or agencies, including Fannie Mae, Freddie Mac and Ginnie Mae. The company’s investments include mortgage pass-through securities and structured mortgage securities tied to U.S. residential loans. Orchid Island Capital seeks to generate income from its portfolio and finances its investments through borrowings, including repurchase agreements.