Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.10 on July 30th

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Tuesday, June 9th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.10 per share by the real estate investment trust on Thursday, July 30th. This represents a c) annualized dividend and a yield of 18.3%. The ex-dividend date is Tuesday, June 30th.

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

Shares of ORC stock opened at $6.58 on Thursday. The company’s 50 day moving average is $6.93 and its 200 day moving average is $7.28. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.26. Orchid Island Capital has a 52-week low of $6.41 and a 52-week high of $8.40. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 8.77 and a beta of 1.55.

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

Institutional Investors Weigh In On Orchid Island Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of Orchid Island Capital in the 3rd quarter valued at $972,000. Wolverine Asset Management LLC raised its stake in Orchid Island Capital by 298.9% during the 4th quarter. Wolverine Asset Management LLC now owns 1,011,903 shares of the real estate investment trust’s stock worth $7,286,000 after acquiring an additional 758,217 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Orchid Island Capital by 295.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 234,720 shares of the real estate investment trust’s stock worth $1,645,000 after acquiring an additional 175,311 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Orchid Island Capital during the 3rd quarter worth $1,412,000. Finally, GraniteShares Advisors LLC acquired a new stake in Orchid Island Capital during the 4th quarter worth $2,673,000. 32.74% of the stock is currently owned by institutional investors and hedge funds.

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.