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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Thursday, March 20th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.12 per share by the real estate investment trust on Tuesday, April 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.47%. The ex-dividend date is Monday, March 31st.

Orchid Island Capital has increased its dividend payment by an average of 8.3% per year over the last three years. Orchid Island Capital has a payout ratio of 334.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Down 1.0 %

Shares of NYSE:ORC traded down $0.09 on Thursday, reaching $8.25. The company had a trading volume of 2,812,252 shares, compared to its average volume of 2,030,688. The stock has a market capitalization of $769.21 million, a P/E ratio of 13.74 and a beta of 1.90. The stock has a 50-day moving average price of $8.29 and a 200 day moving average price of $8.06. Orchid Island Capital has a twelve month low of $7.41 and a twelve month high of $9.08.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. On average, sell-side analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ORC has been the topic of a number of research reports. StockNews.com raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research note 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.