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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.12 per share by the real estate investment trust on Monday, December 30th. This represents a $1.44 annualized dividend and a yield of 18.17%. The ex-dividend date is Friday, November 29th.

Orchid Island Capital has increased its dividend payment by an average of 164.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 1,309.1% meaning 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 Stock Up 0.6 %

Shares of NYSE:ORC opened at $7.93 on Thursday. Orchid Island Capital has a 12-month low of $7.30 and a 12-month high of $9.08. The company’s 50 day moving average price is $7.90 and its two-hundred day moving average price is $8.19. The firm has a market cap of $621.48 million, a PE ratio of 7.55 and a beta of 1.85.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). During the same period in the prior year, the firm earned ($0.28) earnings per share. On average, research analysts expect that Orchid Island Capital will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

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

Orchid Island Capital Company Profile

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.