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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Shareholders 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 18.24%. The ex-dividend date of this dividend is Friday, November 29th.

Orchid Island Capital has raised its dividend by an average of 164.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 1,309.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 0.4 %

Shares of NYSE:ORC opened at $7.90 on Wednesday. The stock has a market cap of $619.13 million, a PE ratio of 7.52 and a beta of 1.85. The company’s fifty day moving average is $7.90 and its 200 day moving average is $8.19. Orchid Island Capital has a 52 week low of $7.30 and a 52 week high of $9.08.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). During the same quarter in the previous year, the firm posted ($0.28) EPS. Sell-side analysts anticipate 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 research note 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.