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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, October 14th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.10 per share by the real estate investment trust on Friday, November 27th. This represents a $1.20 annualized dividend and a dividend yield of 23.6%. The ex-dividend date of this dividend is Friday, October 30th.

Orchid Island Capital has decreased its dividend 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 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 Up 0.3%

NYSE ORC opened at $5.08 on Thursday. Orchid Island Capital has a 12-month low of $4.85 and a 12-month high of $8.40. The company has a market capitalization of $1.01 billion, a PE ratio of 3.43 and a beta of 1.60. The firm’s 50 day moving average is $6.12 and its 200-day moving average is $6.58.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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.

Analyst Ratings Changes

Several equities research analysts have issued reports on ORC shares. Weiss Ratings lowered shares of Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. BTIG Research assumed coverage on Orchid Island Capital in a research report on Thursday, July 9th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $7.50.

About Orchid Island Capital

Orchid Island Capital, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS) issued or guaranteed by U.S. government-sponsored entities. Its portfolio generally consists of agency securities backed by mortgages insured or guaranteed by the Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac).

The company seeks to generate income from its investments and manage interest-rate and prepayment risks through portfolio construction, financing arrangements, and hedging strategies.