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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Tuesday, December 10th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, January 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.87%. The ex-dividend date is Tuesday, December 31st.

Orchid Island Capital has raised its dividend by an average of 164.3% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 576.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Orchid Island Capital to earn $0.22 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 654.5%.

Orchid Island Capital Trading Up 0.5 %

Shares of NYSE:ORC traded up $0.04 during midday trading on Wednesday, reaching $8.06. 1,227,099 shares of the company were exchanged, compared to its average volume of 1,620,178. The business’s fifty day moving average is $7.85 and its two-hundred day moving average is $8.14. Orchid Island Capital has a one year low of $7.41 and a one year high of $9.08. The stock has a market cap of $632.07 million, a PE ratio of 7.67 and a beta of 1.84.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). During the same quarter in the previous year, the company posted ($0.28) EPS. As a group, sell-side analysts expect that Orchid Island Capital will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th.

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.