Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.12 on April 29th

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, March 18th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Wednesday, April 29th. This represents a c) dividend on an annualized basis and a yield of 20.9%. The ex-dividend date of this dividend is Tuesday, March 31st.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%per year 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. 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 Down 1.6%

Orchid Island Capital stock opened at $6.88 on Friday. The company’s 50-day moving average price is $7.55 and its two-hundred day moving average price is $7.38. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.34 billion, a P/E ratio of 6.61 and a beta of 1.67. Orchid Island Capital has a twelve month low of $5.68 and a twelve month high of $8.40.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $124.78 million for the quarter, compared to the consensus estimate of $35.74 million. As a group, analysts expect that Orchid Island Capital will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ORC. Wall Street Zen cut Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Saturday. Compass Point initiated coverage on shares of Orchid Island Capital in a research note on Monday, December 15th. They issued a “neutral” rating and a $7.50 price objective for the company. Finally, Weiss Ratings raised shares of Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.50.

About Orchid Island Capital

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.