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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, May 31st will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, June 27th. This represents a $1.44 annualized dividend and a yield of 16.78%. The ex-dividend date of this dividend is Friday, May 31st.

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 payout ratio of 1,600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Orchid Island Capital to earn $0.12 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 1,200.0%.

Orchid Island Capital Stock Performance

Orchid Island Capital stock traded up $0.02 during midday trading on Thursday, hitting $8.58. 1,683,621 shares of the company’s stock were exchanged, compared to its average volume of 1,196,730. The stock has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $8.14. Orchid Island Capital has a 52-week low of $5.90 and a 52-week high of $11.27. The company has a market cap of $454.52 million, a P/E ratio of -16.15 and a beta of 1.82.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). During the same period in the previous year, the firm earned ($0.24) earnings per share. As a group, sell-side analysts expect that Orchid Island Capital will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ORC has been the subject of a number of analyst reports. StockNews.com upgraded shares of Orchid Island Capital to a “sell” rating in a report on Friday, February 9th. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, April 18th.

About Orchid Island Capital

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.