Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.12 on August 29th

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, July 10th, NASDAQ reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 16.74%. The ex-dividend date is Wednesday, July 31st.

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. Equities analysts expect Orchid Island Capital to earn $0.09 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 1,600.0%.

Orchid Island Capital Price Performance

Shares of NYSE:ORC opened at $8.60 on Friday. Orchid Island Capital has a 1-year low of $5.90 and a 1-year high of $11.27. The business’s 50 day moving average is $8.48 and its 200-day moving average is $8.50.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). During the same quarter last year, the business earned ($0.24) earnings per share. As a group, analysts anticipate that Orchid Island Capital will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ORC has been the subject of several research reports. Janney Montgomery Scott assumed coverage on shares of Orchid Island Capital in a research note on Thursday, June 6th. They set a “buy” rating and a $9.50 price target for the company. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, April 18th.

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.