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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, July 10th, NASDAQ reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.67%. The ex-dividend date is Wednesday, July 31st.

Orchid Island Capital has increased its dividend by an average of 164.3% per year 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 Down 1.1 %

Shares of ORC stock opened at $8.15 on Tuesday. The stock has a 50 day moving average of $8.46 and a two-hundred day moving average of $8.50. Orchid Island Capital has a 12 month low of $5.90 and a 12 month high of $10.75.

Wall Street Analyst Weigh In

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

Orchid Island Capital Company Profile

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.