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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, August 12th. Investors 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) dividend on an annualized basis and a yield of 17.9%. The ex-dividend date of this dividend is Monday, August 31st.

Orchid Island Capital has decreased its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Orchid Island Capital has a 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 NYSE:ORC opened at $6.69 on Friday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 4.52 and a beta of 1.55. 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 has a 50 day simple moving average of $6.71 and a 200 day simple moving average of $6.94. Orchid Island Capital has a one year low of $6.31 and a one year high of $8.40.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen lowered Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded Orchid Island Capital from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, July 15th. Finally, BTIG Research initiated coverage on Orchid Island Capital in a research report on Thursday, July 9th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” 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.