Orchid Island Capital, Inc. (ORC) To Go Ex-Dividend on February 28th

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, February 12th, Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.12 per share by the real estate investment trust on Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 16.37%. The ex-dividend date of this dividend is Friday, February 28th.

Orchid Island Capital has increased its dividend by an average of 8.3% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 334.9% indicating that 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 $0.43 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 0.5 %

NYSE ORC opened at $8.80 on Wednesday. The business has a 50-day moving average price of $8.12 and a 200-day moving average price of $8.04. The firm has a market cap of $820.52 million, a price-to-earnings ratio of 14.66 and a beta of 1.83. Orchid Island Capital has a twelve month low of $7.41 and a twelve month high of $9.08.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.08. Research analysts expect that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on ORC shares. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd. StockNews.com upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Monday.

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.