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

Orchid Island Capital, Inc. (NYSE:ORC) declared 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 dividend on an annualized basis and a yield of 18.79%. The ex-dividend date is Monday, March 31st.

Orchid Island Capital has increased its dividend payment by an average of 8.3% per year over the last three years. Orchid Island Capital has a payout ratio of 240.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Down 3.6 %

Shares of NYSE ORC opened at $7.66 on Friday. The firm has a 50-day simple moving average of $8.33 and a 200-day simple moving average of $8.06. The stock has a market capitalization of $715.01 million, a price-to-earnings ratio of 12.77 and a beta of 1.90. Orchid Island Capital has a 52 week low of $7.41 and a 52 week high of $9.01.

Orchid Island Capital (NYSE:ORC) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.08. As a group, equities research analysts expect that Orchid Island Capital will post 0.37 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on ORC shares. StockNews.com lowered shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research report on Thursday. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd.

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.