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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, June 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 16.78%. The ex-dividend date is Friday, May 31st.

Orchid Island Capital has increased its dividend by an average of 164.3% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 1,600.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Orchid Island Capital to earn $0.12 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 1,200.0%.

Orchid Island Capital Stock Up 0.2 %

Shares of ORC traded up $0.02 during trading hours on Thursday, reaching $8.58. The company’s stock had a trading volume of 1,683,621 shares, compared to its average volume of 1,196,730. The company has a 50 day moving average of $8.59 and a two-hundred day moving average of $8.14. Orchid Island Capital has a 1-year low of $5.90 and a 1-year high of $11.27. The firm has a market cap of $454.52 million, a price-to-earnings ratio of -16.15 and a beta of 1.82.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). During the same period in the prior year, the firm posted ($0.24) EPS. As a group, analysts forecast that Orchid Island Capital will post -0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ORC. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, April 18th. StockNews.com upgraded Orchid Island Capital to a “sell” rating in a research note on Friday, February 9th.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.