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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, August 14th, NASDAQ reports. Investors of record on Friday, August 30th will be given a dividend of 0.12 per share by the real estate investment trust on Friday, September 27th. This represents a $1.44 annualized dividend and a yield of 17.88%. The ex-dividend date of this dividend is Friday, August 30th.

Orchid Island Capital has increased its dividend by an average of 164.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 2,057.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Orchid Island Capital to earn $0.09 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 1,600.0%.

Orchid Island Capital Stock Performance

NYSE ORC traded up $0.09 on Thursday, reaching $8.06. The stock had a trading volume of 1,097,825 shares, compared to its average volume of 1,468,418. Orchid Island Capital has a 12-month low of $5.90 and a 12-month high of $9.88. The business’s 50-day moving average price is $8.33 and its 200 day moving average price is $8.45. The stock has a market cap of $426.71 million, a P/E ratio of -15.13 and a beta of 1.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ORC shares. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, April 18th. Janney Montgomery Scott initiated coverage on Orchid Island Capital in a research note on Thursday, June 6th. They issued a “buy” rating and a $9.50 price objective for the company.

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.