Orchid Island Capital, Inc. (ORC) To Go Ex-Dividend on March 31st

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, March 19th, Wall Street Journal reports. Investors 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 17.47%. The ex-dividend date is Monday, March 31st.

Orchid Island Capital has raised its dividend payment by an average of 8.3% per year over the last three years. Orchid Island Capital has a payout ratio of 334.9% meaning 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 Trading Down 1.0 %

Shares of ORC opened at $8.25 on Friday. Orchid Island Capital has a 1-year low of $7.41 and a 1-year high of $9.08. The firm’s 50-day moving average price is $8.30 and its 200-day moving average price is $8.06. The firm has a market capitalization of $769.21 million, a price-to-earnings ratio of 13.74 and a beta of 1.90.

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, topping the consensus estimate of ($0.03) by $0.08. On average, research analysts forecast that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on ORC shares. StockNews.com upgraded shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a 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.