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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, May 13th. Stockholders of record on Friday, May 29th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, June 29th. This represents a c) annualized dividend and a dividend yield of 17.3%. The ex-dividend date is Friday, May 29th.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 1 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

ORC opened at $6.96 on Thursday. The company has a 50-day moving average of $7.10 and a 200-day moving average of $7.36. The company has a market capitalization of $1.40 billion, a P/E ratio of 9.27 and a beta of 1.57. Orchid Island Capital has a 1-year low of $6.62 and a 1-year high of $8.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 509.34 and a current ratio of 509.34.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The company had revenue of ($12.56) million during the quarter, compared to the consensus estimate of $33.03 million.

Institutional Investors Weigh In On Orchid Island Capital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. acquired a new stake in Orchid Island Capital during the first quarter worth about $195,000. State of Wyoming acquired a new stake in Orchid Island Capital during the first quarter worth about $66,000. Cetera Investment Advisers raised its stake in Orchid Island Capital by 12.6% during the first quarter. Cetera Investment Advisers now owns 431,038 shares of the real estate investment trust’s stock worth $3,030,000 after acquiring an additional 48,369 shares during the period. PNC Financial Services Group Inc. raised its stake in Orchid Island Capital by 51.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,704 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 3,291 shares during the period. Finally, Swiss National Bank raised its stake in Orchid Island Capital by 26.0% during the first quarter. Swiss National Bank now owns 362,800 shares of the real estate investment trust’s stock worth $2,550,000 after acquiring an additional 74,800 shares during the period. Institutional investors and hedge funds own 32.74% of the company’s stock.

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.