Orchid Island Capital Inc Declares Monthly Dividend of $0.06 (NYSE:ORC)

Orchid Island Capital Inc (NYSE:ORC) announced a monthly dividend on Wednesday, June 17th, Wall Street Journal reports. Investors of record on Tuesday, June 30th will be paid a dividend of 0.055 per share by the real estate investment trust on Wednesday, July 29th. This represents a $0.66 annualized dividend and a dividend yield of 14.25%. The ex-dividend date is Monday, June 29th.

Orchid Island Capital has a payout ratio of -733.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Orchid Island Capital to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 93.0%.

Shares of ORC stock opened at $4.63 on Friday. The stock has a market cap of $306.68 million, a P/E ratio of -3.89 and a beta of 1.30. The stock has a 50 day simple moving average of $4.26 and a 200 day simple moving average of $4.86. Orchid Island Capital has a 1 year low of $1.53 and a 1 year high of $6.94.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($1.64). On average, equities research analysts predict that Orchid Island Capital will post 0.76 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on ORC shares. Zacks Investment Research cut Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Thursday, June 18th. ValuEngine downgraded Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Wednesday, April 1st. Finally, TheStreet cut Orchid Island Capital from a “c-” rating to a “d” rating in a report on Friday, May 1st.

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 are backed primarily by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS; and structured Agency RMBS, including collateralized mortgage obligations, interest only securities, inverse interest only securities, and principal only securities.

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Dividend History for Orchid Island Capital (NYSE:ORC)

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