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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Tuesday, November 10th. Shareholders of record on Monday, November 30th will be paid a dividend of $0.10 per share by the real estate investment trust on Thursday, December 31st. This represents a $1.20 annualized dividend and a yield of 24.8%. The ex-dividend date of this dividend is Monday, November 30th.

Orchid Island Capital has decreased its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Orchid Island Capital has a 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 Down 1.3%

NYSE:ORC traded down $0.07 on Wednesday, hitting $4.83. The stock had a trading volume of 1,005,970 shares, compared to its average volume of 5,976,974. The business’s 50-day simple moving average is $5.47 and its two-hundred day simple moving average is $6.63. The stock has a market cap of $933.12 million, a price-to-earnings ratio of 96.70 and a beta of 1.64. Orchid Island Capital has a 52-week low of $4.70 and a 52-week high of $8.40.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.29 by ($1.19). The firm had revenue of $59.13 million for the quarter, compared to analysts’ expectations of $73.41 million.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $7.50.

About Orchid Island Capital

Orchid Island Capital, Inc. is a mortgage real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio focuses on agency RMBS, whose principal and interest payments are guaranteed by U.S. government-sponsored enterprises or agencies, including Fannie Mae, Freddie Mac and Ginnie Mae. The company’s investments include mortgage pass-through securities and structured mortgage securities tied to U.S. residential loans. Orchid Island Capital seeks to generate income from its portfolio and finances its investments through borrowings, including repurchase agreements.