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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, February 11th. Investors of record on Friday, February 27th will be given a dividend of 0.12 per share by the real estate investment trust on Monday, March 30th. This represents a c) annualized dividend and a dividend yield of 19.2%. The ex-dividend date of this dividend is Friday, February 27th.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Orchid Island Capital has a dividend payout ratio of 182.3% 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 $0.43 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 334.9%.

Orchid Island Capital Price Performance

Shares of ORC opened at $7.49 on Thursday. The firm’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $7.34. The company has a market capitalization of $1.37 billion, a P/E ratio of 7.20 and a beta of 1.68. Orchid Island Capital has a 1-year low of $5.68 and a 1-year high of $9.01.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $109.23 million during the quarter, compared to analysts’ expectations of $35.74 million. On average, equities analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Orchid Island Capital

Several institutional investors have recently bought and sold shares of ORC. Swiss National Bank grew its position in Orchid Island Capital by 17.2% during the 4th quarter. Swiss National Bank now owns 288,000 shares of the real estate investment trust’s stock worth $2,074,000 after acquiring an additional 42,300 shares during the last quarter. Nuveen LLC grew its holdings in shares of Orchid Island Capital by 8.5% in the fourth quarter. Nuveen LLC now owns 190,510 shares of the real estate investment trust’s stock worth $1,372,000 after purchasing an additional 14,973 shares during the last quarter. Xponance LLC purchased a new position in shares of Orchid Island Capital in the fourth quarter worth $87,000. Deutsche Bank AG increased its stake in shares of Orchid Island Capital by 26.9% in the fourth quarter. Deutsche Bank AG now owns 99,787 shares of the real estate investment trust’s stock worth $718,000 after buying an additional 21,125 shares during the period. Finally, LPL Financial LLC raised its holdings in Orchid Island Capital by 23.0% during the 4th quarter. LPL Financial LLC now owns 47,558 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 8,890 shares during the last quarter. 32.74% of the stock is currently owned by hedge funds and other institutional investors.

About Orchid Island Capital

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.