Orchid Island Capital, Inc. (NYSE:ORC) to Issue Monthly Dividend of $0.12

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.12 per share by the real estate investment trust on Monday, December 30th. This represents a $1.44 annualized dividend and a yield of 18.54%. The ex-dividend date is Friday, November 29th.

Orchid Island Capital has increased its dividend payment by an average of 164.3% per year over the last three years. Orchid Island Capital has a payout ratio of 1,028.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Orchid Island Capital to earn $0.22 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 654.5%.

Orchid Island Capital Stock Down 0.3 %

NYSE ORC traded down $0.03 on Thursday, reaching $7.77. The company had a trading volume of 1,133,814 shares, compared to its average volume of 1,625,225. The stock has a market cap of $608.93 million, a price-to-earnings ratio of 7.45 and a beta of 1.85. The stock’s 50 day moving average is $7.97 and its 200-day moving average is $8.23. Orchid Island Capital has a 52 week low of $7.00 and a 52 week high of $9.08.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). During the same quarter in the prior year, the business earned ($0.28) EPS. As a group, analysts forecast that Orchid Island Capital will post -0.25 EPS for the current year.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a report on Wednesday, August 28th.

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.