Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.10 on June 29th

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, May 13th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend yield of 17.3%. The ex-dividend date is Friday, May 29th.

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 annually for the last 1 consecutive years. Orchid Island Capital has a dividend payout ratio of 151.9% meaning 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 Price Performance

Shares of Orchid Island Capital stock opened at $6.93 on Friday. The firm has a fifty day simple moving average of $7.09 and a 200-day simple moving average of $7.36. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.26. Orchid Island Capital has a 1-year low of $6.62 and a 1-year high of $8.40. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.23 and a beta of 1.57.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of ($12.56) million during the quarter, compared to analyst estimates of $33.03 million.

Institutional Investors Weigh In On Orchid Island Capital

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in shares of Orchid Island Capital by 313.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 207,548 shares of the real estate investment trust’s stock worth $1,480,000 after purchasing an additional 157,300 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Orchid Island Capital during the 3rd quarter worth about $972,000. Wolverine Asset Management LLC increased its position in shares of Orchid Island Capital by 298.9% during the 4th quarter. Wolverine Asset Management LLC now owns 1,011,903 shares of the real estate investment trust’s stock worth $7,286,000 after purchasing an additional 758,217 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Orchid Island Capital by 295.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 234,720 shares of the real estate investment trust’s stock worth $1,645,000 after purchasing an additional 175,311 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Orchid Island Capital during the 3rd quarter worth about $1,412,000. Institutional investors and hedge funds own 32.74% of the company’s stock.

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.