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

Posted by George Bondi on Nov 15th, 2024

Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) declared a monthly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.12 per share by the real estate investment trust on Monday, December 30th. This represents a $1.44 dividend on an annualized basis and a yield of 18.54%. The ex-dividend date of this dividend is Friday, November 29th.

Orchid Island Capital has increased its dividend by an average of 164.3% per year over the last three years. Orchid Island Capital has a payout ratio of 1,028.6% 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 $0.22 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 654.5%.

Orchid Island Capital Price Performance

NYSE ORC opened at $7.77 on Friday. The firm’s 50-day moving average is $7.97 and its two-hundred day moving average is $8.23. Orchid Island Capital has a 12 month low of $7.00 and a 12 month high of $9.08. The stock has a market capitalization of $608.93 million, a P/E ratio of 7.40 and a beta of 1.85.

Orchid Island Capital (NYSE:ORC – Get Free Report) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). During the same quarter last year, the firm posted ($0.28) earnings per share. As a group, analysts anticipate that Orchid Island Capital will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th.

Read Our Latest Analysis on ORC

Orchid Island Capital Company Profile

(Get Free Report)

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.