Orchid Island Capital, Inc. (NYSE:ORC) Declares $0.10 Monthly Dividend

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, August 12th. Stockholders of record on Monday, August 31st will be given a dividend of 0.10 per share by the real estate investment trust on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 18.1%. The ex-dividend date of this dividend is Monday, August 31st.

Orchid Island Capital has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 1 years. Orchid Island Capital has a dividend payout ratio of 151.9% indicating that 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 Performance

Shares of ORC opened at $6.63 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 509.34 and a quick ratio of 509.34. The firm’s 50 day moving average is $6.69 and its 200-day moving average is $7.04. Orchid Island Capital has a 12-month low of $6.31 and a 12-month high of $8.40. The stock has a market capitalization of $1.32 billion, a P/E ratio of 4.48 and a beta of 1.55.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). The business had revenue of $59.97 million during the quarter, compared to the consensus estimate of $74.26 million.

Institutional Investors Weigh In On Orchid Island Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Orchid Island Capital by 91.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,650 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,739 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Orchid Island Capital by 64.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,502 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Orchid Island Capital by 32,505.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 6,501 shares during the last quarter. McIlrath & Eck LLC increased its position in Orchid Island Capital by 157.2% in the 1st quarter. McIlrath & Eck LLC now owns 7,418 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 4,534 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Orchid Island Capital during the 2nd quarter worth about $55,000. Hedge funds and other institutional investors own 32.74% of the company’s stock.

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.