Orchid Island Capital, Inc. (NYSE:ORC) Declares Monthly Dividend of $0.10

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, August 12th. Shareholders of record on Monday, August 31st will be paid a dividend of 0.10 per share by the real estate investment trust on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 18.1%. The ex-dividend date of this dividend is Monday, August 31st.

Orchid Island Capital has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Orchid Island Capital has a dividend payout ratio of 151.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Orchid Island Capital Stock Up 0.9%

NYSE:ORC opened at $6.63 on Thursday. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $6.69 and a 200-day moving average of $7.04. The firm has a market capitalization of $1.32 billion, a PE ratio of 4.48 and a beta of 1.55. Orchid Island Capital has a 52 week low of $6.31 and a 52 week high of $8.40.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). The company had revenue of $59.97 million during the quarter, compared to analyst estimates of $74.26 million.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ORC shares. Wall Street Zen cut Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. BTIG Research initiated coverage on shares of Orchid Island Capital in a report on Thursday, July 9th. They issued a “neutral” rating on the stock. Finally, Weiss Ratings upgraded shares of Orchid Island Capital from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $7.50.

Orchid Island Capital Company Profile

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.