Orchid Island Capital, Inc. (ORC) To Go Ex-Dividend on May 31st

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, June 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 16.76%. The ex-dividend date of this dividend is Friday, May 31st.

Orchid Island Capital has increased its dividend payment by an average of 164.3% annually over the last three years. Orchid Island Capital has a payout ratio of 1,600.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Orchid Island Capital to earn $0.12 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 1,200.0%.

Orchid Island Capital Trading Up 0.1 %

NYSE:ORC opened at $8.59 on Friday. Orchid Island Capital has a 1-year low of $5.90 and a 1-year high of $11.27. The firm has a market capitalization of $455.05 million, a price-to-earnings ratio of -16.19 and a beta of 1.82. The business’s 50-day moving average price is $8.59 and its two-hundred day moving average price is $8.15.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Friday, April 26th. The real estate investment trust reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). During the same quarter in the prior year, the company posted ($0.24) earnings per share. Sell-side analysts predict that Orchid Island Capital will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ORC has been the topic of several research analyst reports. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, April 18th. StockNews.com raised shares of Orchid Island Capital to a “sell” rating in a research report on Friday, February 9th.

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.