Orchid Island Capital (NYSE:ORC) Releases Earnings Results, Beats Expectations By $0.08 EPS

Orchid Island Capital (NYSE:ORC) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.08, Zacks reports.

Orchid Island Capital Price Performance

ORC stock traded up $0.16 during trading on Thursday, reaching $8.04. 4,418,890 shares of the stock traded hands, compared to its average volume of 2,600,156. The firm has a market capitalization of $641.59 million, a PE ratio of 7.65 and a beta of 1.82. The business’s 50 day moving average price is $7.89 and its 200-day moving average price is $8.00. Orchid Island Capital has a 52-week low of $7.41 and a 52-week high of $9.08.

Orchid Island Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.92%. The ex-dividend date is Friday, January 31st. Orchid Island Capital’s dividend payout ratio is currently 137.14%.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd.

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.