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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, April 15th. Stockholders of record on Thursday, April 30th will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, May 28th. This represents a c) annualized dividend and a dividend yield of 16.3%. The ex-dividend date of this dividend is Thursday, April 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 dividend payout ratio of 182.3% indicating that 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 Performance

Shares of ORC opened at $7.36 on Thursday. The firm’s 50 day moving average is $7.30 and its 200-day moving average is $7.39. The stock has a market capitalization of $1.44 billion, a P/E ratio of 7.07 and a beta of 1.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 509.34 and a quick ratio of 509.34. Orchid Island Capital has a 12-month low of $6.26 and a 12-month high of $8.40.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $124.78 million for the quarter, compared to analyst estimates of $35.74 million. Equities research analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen raised Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings cut Orchid Island Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target 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.