Orchid Island Capital, Inc. (NYSE:ORC) to Issue $0.12 Monthly Dividend

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Tuesday, June 11th, NASDAQ reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.12 per share by the real estate investment trust on Tuesday, July 30th. This represents a $1.44 annualized dividend and a dividend yield of 16.96%. The ex-dividend date is Friday, June 28th.

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 1,309.1% 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 analysts expect Orchid Island Capital to earn $0.09 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 1,600.0%.

Orchid Island Capital Trading Up 0.2 %

ORC stock opened at $8.49 on Thursday. The company has a fifty day moving average price of $8.49 and a 200 day moving average price of $8.50. 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 results 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 posted ($0.24) earnings per share. Analysts forecast that Orchid Island Capital will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ORC shares. Janney Montgomery Scott started coverage on shares of Orchid Island Capital in a report on Thursday, June 6th. They issued a “buy” rating and a $9.50 price target for the company. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, April 18th.

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.