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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid 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 yield of 17.47%. The ex-dividend date of this dividend is Monday, March 31st.

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 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 Trading Down 1.0 %

Shares of NYSE ORC traded down $0.09 during midday trading on Thursday, reaching $8.25. The company’s stock had a trading volume of 2,812,252 shares, compared to its average volume of 2,030,688. The company has a market cap of $769.21 million, a price-to-earnings ratio of 13.74 and a beta of 1.90. Orchid Island Capital has a one year low of $7.41 and a one year high of $9.08. The company has a 50 day moving average price of $8.29 and a 200 day moving average price of $8.06.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.08. Research analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd. StockNews.com upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Wednesday.

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.