Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) announced a monthly dividend on Wednesday, March 19th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Tuesday, April 29th. This represents a $1.44 annualized dividend and a yield of 17.51%. The ex-dividend date is Monday, March 31st.
Orchid Island Capital has raised its dividend by an average of 8.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 334.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 NYSE:ORC traded up $0.02 during midday trading on Monday, hitting $8.23. The company's stock had a trading volume of 2,102,299 shares, compared to its average volume of 2,040,803. The company has a market cap of $767.34 million, a P/E ratio of 13.71 and a beta of 1.90. Orchid Island Capital has a 12-month low of $7.41 and a 12-month high of $9.08. The business's 50 day simple moving average is $8.31 and its 200 day simple moving average is $8.06.
Orchid Island Capital (NYSE:ORC - Get Free Report) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.08. On average, sell-side analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on ORC shares. JMP Securities reaffirmed a "market perform" rating on shares of Orchid Island Capital in a research note on Thursday, January 23rd. StockNews.com raised shares of Orchid Island Capital from a "sell" rating to a "hold" rating in a research note on Wednesday, March 19th.
Read Our Latest Research Report on ORC
About Orchid Island Capital
(
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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.
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