Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.12 on February 26th

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, January 7th. Shareholders of record on Friday, January 30th will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, February 26th. This represents a c) dividend on an annualized basis and a yield of 17.2%. The ex-dividend date of this dividend is Friday, January 30th.

Orchid Island Capital has decreased its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. Orchid Island Capital has a 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. Research 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 Stock Up 2.3%

Shares of NYSE:ORC opened at $8.36 on Wednesday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 17.05 and a beta of 1.67. Orchid Island Capital has a 12 month low of $5.68 and a 12 month high of $9.01. The company’s fifty day simple moving average is $7.49 and its 200 day simple moving average is $7.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ORC shares. Wall Street Zen raised Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Compass Point initiated coverage on shares of Orchid Island Capital in a report on Monday, December 15th. They issued a “neutral” rating and a $7.50 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Orchid Island Capital in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $7.50.

Orchid Island Capital Company Profile

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.