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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given 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 of this dividend is Friday, February 28th.

Orchid Island Capital has increased its dividend by an average of 8.3% annually 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. 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 Up 2.5 %

Shares of Orchid Island Capital stock traded up $0.21 during trading on Thursday, reaching $8.56. The company’s stock had a trading volume of 2,674,887 shares, compared to its average volume of 2,726,192. The business’s 50-day moving average price is $7.98 and its 200-day moving average price is $7.99. The firm has a market cap of $683.12 million, a PE ratio of 14.26 and a beta of 1.83. Orchid Island Capital has a 52 week low of $7.41 and a 52 week high of $9.08.

Orchid Island Capital (NYSE:ORC) last announced 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. Equities analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JMP Securities reissued a “market perform” rating on shares of Orchid Island Capital in a research 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.