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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, October 16th, NASDAQ reports. Stockholders of record on Thursday, October 31st will be given a dividend of 0.12 per share by the real estate investment trust on Wednesday, November 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.89%. The ex-dividend date of this dividend is Thursday, October 31st.

Orchid Island Capital has raised its dividend by an average of 164.3% per year over the last three years. Orchid Island Capital has a payout ratio of 2,400.0% 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 $0.09 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 Up 0.2 %

Shares of Orchid Island Capital stock opened at $8.05 on Friday. Orchid Island Capital has a 12-month low of $5.90 and a 12-month high of $9.08. The firm’s 50 day simple moving average is $8.11 and its two-hundred day simple moving average is $8.32. The firm has a market capitalization of $426.44 million, a price-to-earnings ratio of -15.19 and a beta of 1.85.

Wall Street Analyst Weigh In

Separately, JMP Securities restated 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.