Orchid Island Capital (NYSE:ORC) Issues Earnings Results

Orchid Island Capital (NYSE:ORC) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02), Zacks reports.

Orchid Island Capital Stock Up 0.5%

Shares of ORC traded up $0.03 during midday trading on Thursday, reaching $4.89. 5,064,484 shares of the stock were exchanged, compared to its average volume of 5,933,034. Orchid Island Capital has a twelve month low of $4.75 and a twelve month high of $8.40. The company has a market cap of $977.04 million, a P/E ratio of 3.31 and a beta of 1.60. The stock’s 50 day simple moving average is $5.96 and its 200 day simple moving average is $6.51.

Orchid Island Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, October 30th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a yield of 24.5%. Orchid Island Capital’s dividend payout ratio (DPR) is presently 81.08%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings cut 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 shares of Orchid Island Capital in a research note on Thursday, July 9th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $7.50.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a real estate investment trust (REIT) that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio is focused mainly on agency securities, which are backed by residential mortgage loans and guaranteed by government-sponsored entities such as Fannie Mae and Freddie Mac or by Ginnie Mae.

The company seeks to generate income from its mortgage investments, primarily through the difference between the returns on its assets and the cost of financing those assets.