Orchid Island Capital (NYSE:ORC) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Orchid Island Capital (NYSE:ORC) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08, Zacks reports.

Orchid Island Capital Stock Up 2.0 %

Shares of NYSE ORC traded up $0.16 during midday trading on Thursday, reaching $8.04. 4,419,938 shares of the stock were exchanged, compared to its average volume of 2,600,359. The firm has a market cap of $641.59 million, a price-to-earnings ratio of 7.65 and a beta of 1.82. The firm has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $8.00. Orchid Island Capital has a twelve month low of $7.41 and a twelve month high of $9.08.

Orchid Island Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, January 31st will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 17.92%. The ex-dividend date is Friday, January 31st. Orchid Island Capital’s payout ratio is presently 137.14%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd.

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.