Orchid Island Capital, Inc. (NYSE:ORC) Announces Monthly Dividend of $0.12

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, June 27th. This represents a $1.44 annualized dividend and a yield of 16.78%. The ex-dividend date of this dividend is Friday, May 31st.

Orchid Island Capital has increased its dividend payment by an average of 164.3% annually over the last three years. Orchid Island Capital has a payout ratio of 1,600.0% 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 $0.12 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 1,200.0%.

Orchid Island Capital Price Performance

ORC stock opened at $8.58 on Friday. The firm’s fifty day simple moving average is $8.59 and its 200-day simple moving average is $8.15. The company has a market capitalization of $454.52 million, a P/E ratio of -16.19 and a beta of 1.82. Orchid Island Capital has a 12 month low of $5.90 and a 12 month high of $11.27.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). During the same quarter in the previous year, the company earned ($0.24) earnings per share. As a group, sell-side analysts forecast that Orchid Island Capital will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ORC has been the topic of several recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, April 18th. StockNews.com raised shares of Orchid Island Capital to a “sell” rating in a report on Friday, February 9th.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.