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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, February 12th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.12 per share by the real estate investment trust on Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 16.83%. The ex-dividend date is Friday, February 28th.

Orchid Island Capital has raised its dividend payment by an average of 8.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 334.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Orchid Island Capital to earn $0.43 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 334.9%.

Orchid Island Capital Price Performance

Shares of NYSE:ORC traded up $0.21 during trading on Thursday, hitting $8.56. 2,675,390 shares of the company were exchanged, compared to its average volume of 2,726,233. The firm’s 50 day moving average price is $7.98 and its 200-day moving average price is $7.99. Orchid Island Capital has a 12-month low of $7.41 and a 12-month high of $9.08. The stock has a market capitalization of $683.12 million, a P/E ratio of 14.26 and a beta of 1.83.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. As a group, equities research analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

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

Orchid Island Capital Company Profile

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.