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

Posted by Chris Copeland on Aug 15th, 2024

Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) announced a monthly dividend on Wednesday, August 14th, NASDAQ reports. Investors of record on Friday, August 30th will be paid a dividend of 0.12 per share by the real estate investment trust on Friday, September 27th. This represents a $1.44 annualized dividend and a yield of 17.88%. The ex-dividend date of this dividend is Friday, August 30th.

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 dividend payout ratio of 2,057.1% 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 $0.09 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 1,600.0%.

Orchid Island Capital Trading Up 1.2 %

ORC stock traded up $0.09 on Thursday, hitting $8.06. The company had a trading volume of 1,097,825 shares, compared to its average volume of 1,468,418. Orchid Island Capital has a 12-month low of $5.90 and a 12-month high of $9.88. The stock’s 50-day simple moving average is $8.33 and its 200 day simple moving average is $8.45. The stock has a market cap of $426.71 million, a price-to-earnings ratio of -15.13 and a beta of 1.86.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Janney Montgomery Scott initiated coverage on shares of Orchid Island Capital in a report on Thursday, June 6th. They issued a “buy” rating and a $9.50 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, April 18th.

Read Our Latest Report on Orchid Island Capital

About Orchid Island Capital

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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.