Orchid Island Capital (NYSE:ORC) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Orchid Island Capital (NYSE:ORC) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02), Zacks reports.

Orchid Island Capital Stock Performance

ORC stock traded up $0.03 during trading on Thursday, reaching $4.89. 5,065,391 shares of the company traded hands, compared to its average volume of 5,938,430. Orchid Island Capital has a 12 month low of $4.75 and a 12 month high of $8.40. The business has a 50 day simple moving average of $5.96 and a 200 day simple moving average of $6.51. The company has a market capitalization of $977.04 million, a price-to-earnings ratio of 3.31 and a beta of 1.60.

Orchid Island Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 24.5%. Orchid Island Capital’s dividend payout ratio is currently 81.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings cut shares of Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. BTIG Research assumed coverage on shares of Orchid Island Capital in a research note on Thursday, July 9th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $7.50.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a real estate investment trust (REIT) that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio is focused mainly on agency securities, which are backed by residential mortgage loans and guaranteed by government-sponsored entities such as Fannie Mae and Freddie Mac or by Ginnie Mae.

The company seeks to generate income from its mortgage investments, primarily through the difference between the returns on its assets and the cost of financing those assets.