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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Tuesday, December 9th. Investors of record on Wednesday, December 31st will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, January 29th. This represents a c) dividend on an annualized basis and a yield of 20.1%. The ex-dividend date is Wednesday, December 31st.

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 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. Equities 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 Stock Down 0.3%

ORC stock traded down $0.03 during midday trading on Wednesday, reaching $7.17. 576,168 shares of the company’s stock traded hands, compared to its average volume of 4,250,335. The company has a 50-day simple moving average of $7.29 and a two-hundred day simple moving average of $7.15. Orchid Island Capital has a 1-year low of $5.68 and a 1-year high of $9.01. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 14.62 and a beta of 1.66.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $77.52 million for the quarter, compared to the consensus estimate of $25.33 million. Equities research analysts forecast that Orchid Island Capital will post 0.37 EPS for the current year.

Institutional Trading of Orchid Island Capital

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Orchid Island Capital by 24.1% during the third quarter. Vanguard Group Inc. now owns 7,917,449 shares of the real estate investment trust’s stock worth $55,501,000 after acquiring an additional 1,537,126 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Orchid Island Capital by 3.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,953,916 shares of the real estate investment trust’s stock worth $27,717,000 after acquiring an additional 149,251 shares in the last quarter. Invesco Ltd. raised its position in shares of Orchid Island Capital by 10.3% during the third quarter. Invesco Ltd. now owns 3,165,436 shares of the real estate investment trust’s stock worth $22,190,000 after purchasing an additional 294,547 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Orchid Island Capital by 25.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,584,534 shares of the real estate investment trust’s stock valued at $18,120,000 after purchasing an additional 516,261 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Orchid Island Capital by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,440,892 shares of the real estate investment trust’s stock valued at $10,101,000 after purchasing an additional 302,548 shares in the last quarter. Institutional investors own 32.74% of the company’s stock.

About Orchid Island Capital

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.